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Yellow Banana Partners With Chicago, Illinois, for Community Development Grant; Michael Nance Comments

Yellow Banana Partners With Chicago, Illinois, for Community Development Grant; Michael Nance Comments

Monday, July 25th, 2022

Yellow Banana, owner and operator of Chicago, Illinois-area Save A Lot stores, will soon be getting a facelift. Mayor Lori Lightfoot recently announced that the city would be providing a $13.5 million Community Development Grant to Yellow Banana. The retailer will be using this grant to invest in significant upgrades to its existing stores, as well as to reopen a location in the Auburn-Gresham neighborhood that closed in 2020.

Michael Nance, Co-Founder, 127 Wall Holdings“We are exceedingly grateful to Mayor Lightfoot and the City of Chicago for this generous grant and their investment in the South and West Side neighborhoods of Chicago,” said Michael Nance, Co-Founder of 127 Wall Holdings, the Owner of Yellow Banana. “We know how critical access to high-quality food at affordable prices is in many of these neighborhoods—I myself having been raised in a community with many similarities—and we are honored to be able to serve them. By updating these stores both inside and out and continuing to source fresh, affordable food at prices working families can afford, we can deliver a dignified, first-rate shopping experience for local families. We are committed to the wider Chicago community and look forward to finding even more ways to better serve those who live here.”

Chicago’s grant, combined with other financing and funding from Yellow Banana, will bring approximately $26 million in investment to the retailer’s six locations in underserved communities throughout the city’s south and west sides, according to a press release. Yellow Banana currently owns and operates 38 stores in Cleveland, Ohio; Chicago; Milwaukee, Wisconsin; Jacksonville, Florida; and Dallas, Texas. The grant furthers Yellow Banana’s efforts to partner with major cities in addressing food deserts and healthy food access in underserved communities.

Yellow Banana recently received a $13.5 million Community Development Grant from the city of Chicago, Illinois, to make significant updates to its existing stores and re-open a store location

Capital investments will be used to purchase the underlying real estate for six of the seven locations in Chicago as well as to complete full internal and external remodels, including new flooring, lighting, HVAC, interior and exterior painting, new décor and signage, and more. Remodels will begin this fall, as well as the reopening of the Auburn-Gresham Save A Lot by the year’s end.

Check out the full details provided here.

Deli Market News will continue to keep an eye on the retail landscape.

Yellow Banana