Renovation of Shed 7 will modernize Detroit’s historic food hub, expand refrigerated space for urban growers, and strengthen regional food system.
FOR IMMEDIATE RELEASE September 30, 2025
LANSING, Mich. – With support from Michigan Community Capital (MCC), the Eastern Market Partnership (EMP), together with its subsidiary Eastern Market Development Corporation (EMDC), is renovating and expanding the outdated Shed 7 building to create an approximately 43,000-square-foot cold chain- and Food Safety Modernization Act-compliant space. MCC has provided $10.75 million in New Markets Tax Credit (NMTC) allocation in addition to a bridge loan.
NMTC proceeds from MCC will fund upgrades to the facility to ensure cold chain compliance, installation of additional refrigeration to support smaller growers, security improvements to protect food safety, and upgrades to mechanical and electrical systems. Magnet Lending Corporation, a subsidiary of MCC, will provide a bridge loan of approximately $5.26 million for a $12-million grant from Michigan Department of Agriculture and Rural Development (MDARD).
“Michigan Community Capital is proud to support the Shed 7 redevelopment with both New Markets Tax Credits and bridge financing,” said Liz Alexandrian, Vice President of Lending at Michigan Community Capital. “This project not only strengthens Detroit’s historic Eastern Market but also expands opportunities for small growers, urban farmers, and food entrepreneurs who are vital to the city’s future. By modernizing this facility, we are helping ensure food safety, preserving critical jobs, and investing in a food system that delivers fresh, healthy produce to communities across the region.”
The Shed 7 project is vital to the Eastern Market area and Detroit’s Eastside. It will retain the building’s primary tenants, including RJR Distribution, LLC (RJR), Frank’s Deli and Grill, and Tocco’s Fresh Produce, while providing affordable refrigerated space to regional farmers and 20+ urban farming organizations. Detroit’s historic Eastern Market is a wholesale food hub where over 54 million pounds of produce were sold in 2023. The organization also operates seasonal markets and partners with groups such as the Detroit Black Farmer Land Fund and Oakland Avenue Urban Farm to expand access to minority- and women-owned growers.
Eastern Market Partnership, acting as the economic development organization for the greater market district under a management agreement with the City of Detroit since 2006, created EMDC as a nonprofit real estate development organization to serve as the direct sponsor of the project.
“Eastern Market is an anchor of Detroit’s economy, a platform for local entrepreneurs, and a catalyst for regional food systems,” said Katy Trudeau, President and CEO of Eastern Market Partnership. “Shed 7 brings our mission to life by creating space that reflects the diversity and talent of our food economy and by removing barriers for growers who’ve long been underserved.”
The project will track produce volume and transportation efficiency, including pallets moved and truck logistics. EMP anticipates the investment will double food volume sold at the market and expand its Mobile Markets program from 15 to over 40 locations across Wayne County, increasing fresh produce accessibility in underserved areas.
Located at 3445 Russell Street, Detroit, the project qualifies for NMTC in a “deeply distressed” census tract with a median family income at 33% of the area median, a 44.8% poverty rate, and 22.8% unemployment (over four times the national average). The project is expected to create 17 construction jobs and retain or create 36 permanent positions through the facility’s tenants.
“For J.P. Morgan, supporting the renovation and expansion of Shed 7 reflects our commitment to Detroit,” said Melissa Pillars, Executive Director of Community Development Banking, J.P. Morgan. “This facility is an investment in Detroit’s food businesses and urban farmers and strengthens Eastern Market as a space where local entrepreneurs, culture, and community come together. We’re proud to partner with Michigan Community Capital and Eastern Market to create new opportunities.”
Project Financing Overview
MCC NMTC allocation: $10.75 million
Invest Detroit NMTC allocation: Approximately $4.65 million
NMTC investor: Chase Community Equity, LLC
Other loan sources include grants from MDARD and the Gilbert Foundation.
“Invest Detroit has been a proud partner of Eastern Market for many years, and we are thrilled to help finance this important project,” said Marcia Ventura, Senior Vice President of Lending at Invest Detroit. “By providing subsidized cold storage space, especially for Detroit’s urban farmers, we’re helping more locally grown produce reach consumers quickly and safely. This investment is expected to triple sales for local growers, strengthening the food system and creating new opportunities for small- and mid-sized producers across the city.”
The Shed 7 renovation represents a significant step in strengthening Detroit’s regional food system, providing modern, scalable infrastructure for urban and minority-owned farmers, ensuring food safety, and catalyzing economic development in a historically underserved community.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. Michigancommunitycapital.org.
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Hillsdale, Midland, and Rochester Hills welcome ALDI Grocery Stores
FOR IMMEDIATE RELEASE February 20, 2025
LANSING, Mich. – ALDI is investing approximately $13 million to bring new locations to Hillsdale, Midland, and Rochester Hills in eastern Michigan. ALDI will build and equip the three new stand-alone grocery stores which combined will comprise approximately 61,000 square feet of space and feature a range of products including fresh meat and seafood, organic produce, and pantry essentials with approximately 30% of each store’s floor area dedicated to fresh food. The developments are being supported with a $12-million New Markets Tax Credit (NMTC) allocation from Michigan Community Capital (MCC). The new ALDI location in Midland opened in November 2024, while the upcoming stores in Hillsdale and Rochester Hills are slated to open later this year.
The three ALDI stores in Michigan will address the critical need for affordable, fresh food in one non-metro and two metro communities that experience high rates of food insecurity. Each store within the Project Area qualifies as an “Area of Greater Economic Distress” as defined by the Community Development Financial Institution (CDFI) Fund.
ALDI, America’s fastest-growing retailer, offers shoppers groceries at everyday low prices in more than 2,400 stores nationwide. ALDI focuses on the groceries commonly purchased by shoppers, primarily under its exclusive brands, and is committed to providing customers with quality products at the lowest possible prices. ALDI strives to reduce the company’s impact on the environment through an energy efficient store design, including state-of-the-art lighting and refrigeration systems that have reduced energy features and environmentally friendly building materials.
Approximately 27 new full-time equivalent positions will be created to support the new stores. All positions will be accessible to individuals without a four-year degree and will provide industry-leading benefits including competitive wages, health insurance, 401(k) program and paid time off.
“We are thrilled that ALDI continues to invest in Michigan,” said Eric Hanna, president, and CEO at Michigan Community Capital. “At a time when groceries are expensive, ALDI uses its skills in supply chain management and store efficiency to deliver affordable and healthy food where it’s most needed.”
New Markets Tax Credits are a federal subsidy tool administered by the U.S Department of Treasury and designed to attract capital to projects that support low- and moderate-income households and communities. Michigan Community Capital is the only Community Development Entity (CDE) that deploys this resource entirely in Michigan. Since the organization’s formation in 2005, MCC has secured $570 million in NMTC allocation through competitive rounds to support Michigan businesses and communities. MCC uses NMTC’s to support job creation, access to healthy food, and mixed-use projects that include mixed-income housing and commercial businesses that benefit low-income households.
U.S. Bancorp Impact Finance, a U.S. Bank subsidiary, is serving as the New Markets Tax Credit investor on this project. Impact Finance provided $3.65 million in Federal New Markets Tax Credits.
About ALDI
ALDI is America’s fastest-growing retailer, serving millions of customers across the country each month. Our disciplined approach to operating with simplicity and efficiency gives our customers great products at the lowest prices of any national grocery store.* ALDI strives to have a positive impact on its customers, employees and communities by being socially and environmentally responsible, earning ALDI recognition as a leading grocer in sustainability.** In addition to helping protect the planet, ALDI helps customers save time and money through convenient shopping options via in-store, curbside pickup or delivery at shop.aldi.us. For more information about ALDI, visit aldi.us. *According to the 2025 ALDI Price Leadership Report. **According to Progressive Grocer’s 2023 and 2024 Top 10 Most Sustainable Grocers list.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. Michigancommunitycapital.org
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Dearborn Business Expansion Expected to Retain and Create Hundreds of Jobs
FOR IMMEDIATE RELEASE October 25, 2024
LANSING, Mich. – Hollingsworth Logistics Group, LLC (Hollingsworth), a Native American-owned company providing logistics services for sectors including aerospace, automotive, and food and beverage, has received New Markets Tax Credit (NMTC) allocations from Michigan Community Capital (MCC), Invest Detroit, and U.S. Bancorp Impact Finance to support its expansion. The project includes the acquisition and rehabilitation of a 100-year-old building located at 14225 W. Warren Avenue in Dearborn.
The acquired 864,000-square-foot building will serve as Hollingsworth’s headquarters, featuring a company warehouse and offices. Planned upgrades include the replacement of all major building systems (HVAC, plumbing, roof, elevators), new windows, a façade rebuild, and the reconfiguration and expansion of the shipping and receiving dock doors. The first phase of the project is expected to exceed $24 million, improving the operational efficiency of the company.
The project is set to create approximately 265 jobs over a ten-year period and retain more than 700 full-time positions in a highly distressed census tract with a poverty rate of 34.4% and an unemployment rate of 1.5 times the national average. Job roles will include entry-level packagers, inventory control specialists, operation support team members, and corporate office personnel. Comprehensive benefits include medical insurance, a 401(k) plan with up to a 5% match, paid time off, and personal career coaching. Notably, 76% of the jobs will be accessible to individuals without a four-year degree.
“Hollingsworth has always invested in and supported the communities we operate in. With over 30 years of history in Dearborn, we are proud to continue this philosophy not only through financial investment, but by providing hundreds of jobs for families and giving back in any way we can,” said Michael McNamara, president of Hollingsworth Logistics Group, LLC.
Michigan Community Capital contributed $10 million in NMTC allocation to support the expansion.
“We are excited to partner with a company that understands the value of training and career advancement, a company investing in its people and the community of Dearborn,” said Eric Hanna, president and CEO at Michigan Community Capital.
Invest Detroit also provided $10 million in NMTC allocation for the project.
“Helping Hollingsworth stay rooted in a neighborhood that serves as a nexus of culture, multilingual communities, and a gateway between Detroit and Dearborn demonstrates the critical role New Market Tax Credits play in our development ecosystem,” said Marcia Ventura, senior vice president of lending at Invest Detroit. “Hollingsworth’s commitment to fostering an inclusive work environment—respecting local faith communities, offering language assistance, and providing career opportunities with a living wage—makes us proud to support the capital that keeps this business thriving locally.”
U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, is the NMTC investor in the project and provided $3.25 million in allocation.
“We’re pleased to serve as the NMTC investor and help bring tangible impact to the Dearborn community,” said Tom Oldenburg, senior vice president of business development for Impact Finance. “We believe everyone deserves to live in a thriving community with access to opportunity and are excited about the number of jobs the expansion is expected to create.”
“The restoration of the historic Albert Kahn-designed building will serve as both a revitalization of a Dearborn landmark and a catalyst for economic growth. Hollingsworth’s expansion will create hundreds of jobs and preserve over 700 positions, driving significant opportunity in downtown east Dearborn,” said State Representative Alabas Farhat (D-Dearborn).
The expansion aligns with the Dearborn 2030 Master Plan and includes placemaking and public safety enhancements, supporting the City of Dearborn’s broader Warren Avenue Corridor Improvement Project. Hollingsworth will collaborate with the City of Dearborn and Wayne County to add a stoplight and crosswalk on Warren Avenue, improving safety for employees walking to and from work and increasing foot traffic for surrounding businesses.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in four key areas: Real Estate Development, CDFI lending, New Markets Tax Credits, and affordable Property Insurance. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.3 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. michigancommunitycapital.org
