Media Advisory
Greensboro, N.C. – Nonprofit community developer Self-Help Ventures Fund, an affiliate of Self-Help Credit Union, is hosting a groundbreaking ceremony with the City of Greensboro for Renaissance Shops at Phillips Avenue on Tuesday, June 16 from 10:30 am - 12:30 pm. The exact address is 2582 Phillips Avenue in Greensboro. Attendees are asked to RSVP to Self-Help Real Estate Director Kim Cameron at kim.cameron@self-help.org.
Once redeveloped, Renaissance Shops is expected to house the Renaissance Community Co-op (RCC), Greensboro Municipal Credit Union, City of Greensboro offices, and other businesses and community spaces. As part of the redevelopment process an advisory committee composed of 19 community members has worked to ensure recognition of the Renaissance Shops’ history and redevelopment plans are in sync with the community’s desired outcomes. RCC will be locally owned and operated and the first grocery store in the immediate neighborhood in over 20 years.
“Breaking ground at Renaissance Shops moves one step closer to helping provide much needed commercial resources to Northeast Greensboro Community,” said Cameron. “We hope and expect that Renaissance Shops will be an active community hub for families in the neighborhood.”
Self-Help acquired the site from the City of Greensboro in January. The city is providing a $2 million loan to help finance the project. Self-Help is working with DevCon Resources and East Market Street Development Corporation (EMSDC) on property management and leasing for the site. DevCon Resources will provide the leasing, marketing, and management of the property, and will partner with EMSDC to provide marketing and maintenance services.
Self-Help has a goal of utilizing 25% Minority and Women Business Enterprises (MWBEs) on the Renaissance Shops project and has awarded joint venture C2 Contractors (MBE)/Weaver-Cooke the construction contract for the project.
The 45,000 square foot neighborhood shopping center once included a supermarket, pharmacy and a public library but Family Dollar is the last remaining tenant. Following the recommendations of the advisory committee, Self-Help is also seeking to attract a health care clinic, a pharmacy, a restaurant and other community oriented businesses as tenants.
Self-Help owns and has developed 20 commercial properties across North Carolina, including the Self-Help Center and Revolution Mill in Greensboro. In addition, Choice Community Credit Union at 3400 Battleground Ave operates as a division of Self-Help Credit Union.
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About Self-Help Credit Union
Self-Help, a nonprofit community development lender headquartered in North Carolina, has provided over $6.8 billion in financing to nearly 102,000 families, individuals and businesses. It helps drive economic development and strengthen communities by financing hundreds of homebuyers each year, as well as nonprofits, child care centers, community health facilities, public charter schools, and residential and commercial real estate projects. Through its two credit unions and 40 branches, Self-Help serves over 117,000 families in North Carolina, California and Chicago and offers a full range of financial products and services. Learn more at www.self-help.org.