The Project includes the substantial rehab of a vacant Toys R Us property to create a full service, minority-owned grocery store in a USDA designated food desert. By increasing access to nutritious and culturally appropriate foods for residents, the Vallarta Van Nuys Supermarket will be addressing the incidence and prevalence of diet related disease.
Vallarta estimates that 80% of the permanent full time employees will be filled by bilingual, low-income residents of the surrounding community. These employment opportunities will benefit the local low-income, minority neighborhoods further bolstering the regional economy.
NMTC will compensate for the high cost of land purchase and the rising Los Angeles minimum wage and allow Vallarta to maintain grocery prices low and affordable to the surrounding low-income community. The business will be operated by GFE, a subsidiary of Vallarta Supermarkets Group which is an owner and operator of 32 supermarkets throughout Southern and Central California employing an estimated 8,000 team members.
Gonzalez Food Enterprises, Inc. (GFE) will use NMTC financing to substantially rehabilitate an existing 41,000 square foot building for use as a new Vallarta Van Nuys Supermarket. Construction of the 41,000 SF grocery store is expected to begin in November 2019 and complete in November 2020.