The Reinvestment Fund (TRF -- www.trfund.com) provided financing to support the renovation of Progress Plaza, a supermarket-anchored retail center in Philadelphia. The retail center is the nation's oldest African-American owned and operated shopping center. The center was built in 1968 by civil rights leader Rev. Leon Sullivan and had been in disrepair for more than a decade since its anchor tenant, a supermarket, moved out. With the financing, TRF helped the owners and a new supermarket operator, renovate the center, demolish the old supermarket and construct a new one in its place. The three-phased development project also included a two-story office building and retail space. TRF financing for the project included New Markets Tax Credits and capital through the Pennsylvania Fresh Food Financing Initiative (FFFI).

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