It was only natural for LISC DC to be one of the first investors in Good Food Markets since we support the development, expansion and improvement of quality retail food outlets and other healthy food activities.
Our initial investment in Good Food Markets, a healthy food grocery store located in the Woodridge neighborhood of Washington, DC, was a $10,000 grant quickly followed by a $25,000 project investment to the nonprofit Friends of Rhode Island Avenue (FORIA) that was used to pay for predevelopment costs associated with opening Good Food Markets. Not only did LISC DC’s support allow Good Food Markets to open their store, essentially ending one of the District’s “food deserts,” but it also helped the grocery store attract other investors like the District of Columbia.
LISC DC also provided Good Food Markets with a $5,000 1-for-1 match to help them successfully complete their $20,000 Kickstarter campaign. This will now allow them to make necessary additional investments in community outreach and equipment.
Our package of resources to Good Food Markets has gone a long way in helping them literally open their doors, while simultaneously creating the space for others to invest in this much needed grocery store. This Washington Business Journal article details how Good Food Markets is now attracting new investors.