Colorado Enterprise Fund Provides $1M Loan for Montbello Grocery Store
The Colorado Enterprise Fund has made its largest commercial real estate loan in history, providing food in a neighborhood described as a food desert that had lost its grocery store.
A $1 million loan — double the CEF’s normal loan limit — has been given to the Chambers Place Redevelopment Project in Denver’s Montbello neighborhood, that includes a Save-A-Lot grocery store. The loan is part of a $10.5 million redevelopment project financed by multiple agencies.
The redevelopment project is being led by Chris and John Leevers, of Leevers Supermarkets Inc. and is located at 51st and Chambers, where there once was a Safeway store.