NEW ORLEANS–Hope Credit Union said it has partnered with the City of New Orleans, the Louisiana Agricultural Finance Authority (LAFA) and Canseco Properties to finance a newly constructed store in an underserved area here.
Canseco’s Market will move from its Elysian Fields site located in the Seventh Ward, a historically underserved area, into a newly-constructed building right across the street “providing an enhanced shopping experience by offering a variety of food options with more retail space for refrigeration of fresh fruits and vegetables, an in house bakery, a sushi bar, and other prepared foods,” Hope Credit Union stated.
The new store will be nearly twice the square footage of the existing store, increasing the shopping area to 11,000 square feet. The new store also will serve over 21,300 residents, three out of four of whom are Black, and create 15 new jobs, Hope CU added.
Two-Million Project
Mississippi-based Hope Credit Union said it led partial financing for the project totaling $2 million. Other financing partners include the City of New Orleans’ Fresh Food Retail Initiative (FFRI) and the Louisiana Department of Agriculture and Forestry’s Healthy Food Retail Program.
“The City of New Orleans is a proud investor in Canseco Properties through our Fresh Food Retailer Initiative (FFRI),” said Mayor LaToya Cantrell. “Since its inception, FFRI has invested over $13 million to bring fresh food access to underserved communities. Sinesio Canesco provided the Gentilly community with its first full-service grocery store following the devastating impacts of Hurricane Katrina. I applaud Mr. Canesco's strong commitment and great contribution to our city and look forward to Canseco’s continuing its impact throughout our communities by expanding our people's access to fresh, affordable, healthy food. We are grateful to Hope Credit Union and Mr. Canseco for supporting and understanding the need of this critical resource for our people.”
‘Healthy Groceries’
Added Hope CU SVP of Community & Economic Development Kathy Saloy, “Canseco’s Market will create new jobs and increase access to healthy groceries for New Orleans residents and visitors. “Health and financial wellness go hand-in-hand, and this project creates opportunities for both in New Orleans.”
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