Quick Facts

Project Name
Limehouse Produce
CDE
Greenville New Markets Opportunity II, LLC
  (GNMO II)
Total Development Cost
$10,200,000
GNMO II Allocation
$9,000,000
Location
2650 Carner Avenue
North Charleston, SC 29405
NMTC Consultant
taxadvantagegroup, llc
Developer
Limehouse Produce
Square Footage
176,712
Leveraged Lender
Limehouse GEX, LLC
NMTC Investor
Capital One Bank, N.A.
Permanent Jobs
115 Direct
46 Induced/Indirect
Construction Jobs
30 Direct
24 Induced/Indirect
Low-Income Community
Poverty: 47.3%
MFI: 37.06%
Unemployment Rate: 21.96%
Unemployment Ratio: 2.78x
State EZ
FEMA Disaster Area
HFFI-Designated Food Desert
Financing Complete
February 2016

Limehouse Produce


North Charleston, SC

Project

Charleston, SC is world renowned for its history, culture and Southern charm, but not far from the heart of its thriving tourist district – in an area known locally as “The Neck” – poverty is rampant. For decades, The Neck was home to the Charleston Naval Base, a source of thousands of jobs. The base’s closing in 1996 resulted in a mass exodus of military personnel, shuttering local businesses, and leaving local residents with almost no access to jobs or fresh food.

In 2015, Limehouse Produce purchased the former site of the Charleston Naval Exchange Building on Carner Avenue for the development of a multi-faceted agribusiness program. Limehouse Produce, which provides conventional row crops, local specialties, fresh herbs and dairy products to Charleston area restaurants, will rehabilitate the abandoned 127,156-sq.-ft. Exchange Building into a food hub with additional tenant space for locally owned businesses and non-profits at reduced rental rates. It will also build a new 49,556-sq.-ft. produce distribution and cold storage facility, with the total project encompassing over 175,000 square feet on 14.6 acres. As a “first-mover” in this distressed neighborhood, the economic impact of this project is tremendous.

Community Impact

The GNMO II investment will support 145 direct quality jobs and, to encourage accessibility of jobs to residents, Limehouse will establish an apprenticeship program with Apprenticeship Carolina and Trident Technical College. Beyond its own workforce, Limehouse will strive to provide opportunities to minorities from the farms that supply them as well as restaurants that buy from them. One example is its partnership with Clemson University to streamline and simplify the GAP (Good Agricultural Practices) Certification process for farms through the US Department of Agriculture.

In addition to a supporting quality jobs, Limehouse provides significant support to the local food banks, including One80Place (formerly Crisis Ministries) and the Lowcountry Food Bank. The total contributions to these organizations are in the millions of pounds of food and the overall impact is immeasurable. Amy Kosar, Food Resource Manager for the Lowcountry Food Bank, recently reported that over the past three years, Limehouse has donated 413,136 pounds of food to them alone.

“Limehouse Produce is another outstanding example of how important agribusiness is to South Carolina’s economy. Businesses like this support local farmers and increase market access for Certified S.C. grown fruits and vegetables.”

– S.C. Department of Agriculture Commissioner Hugh Weathers

“Limehouse Produce is proud to have accompanied Charleston, and particularly the local restaurants, in the extraordinary success of our beautiful city. We are very excited about the renovation of the Navy Exchange Building and the construction of our new facility, which will not only position us to serve our customer base better, but will also be an asset to our neighborhood. We would like to thank Greenville New Markets Opportunity II and Tax Advantage Group for their assistance in employing the New Markets Tax Credit Program to bring this project to fruition.”

– Andrea Limehouse, Vice President, Limehouse Produce

For more information contact:

Tammy C. Propst | 864.271.2737 | tpropst@taxadvantagegroup.com