Super Natural & Fresh Produce III and Finanta (formerly Community First Fund) hosted a ribbon-cutting of a new supermarket in Reading Wednesday morning. Finanta, a nonprofit advancing economic opportunity in low-income neighborhoods, allocated $6 million in New Markets Tax Credits (NMTC) to support the development of this new full-service grocery store at 243 N. 4th Street, Reading, PA.
The project, led by Leopoldo Sanchez, a longtime grocery store operator serving residents, will bring fresh, healthy and affordable food, including Latino foods not found in larger regional stores, to one of Reading’s most important neighborhoods. Sanchez will also hire and train local residents, creating dozens of stable jobs with career growth opportunities, allowing families to achieve greater financial stability.
“This investment reflects Finanta’s commitment to increasing access to healthy food while helping families gain the financial stability to save and plan for their futures,” said Daniel Betancourt, President & CEO of Finanta. “With the support of MTC financing, this project will create quality jobs, provide essential grocery access, and strengthen the local economy.”
Super Natural & Fresh Produce III will be a 43,000-square-foot facility offering fresh produce, meats, dairy, and other grocery products. On its first floor, customers can visit its cafe to enjoy a healthy bite before or after they shop. Additionally, the project includes a wholesale distribution warehouse for small grocers, and a future tortilla manufacturing facility on the second floor.
The $19 million project is made possible through $6 million in federal tax credits led by Finanta with participation from Blue Hub Capital and Reinvestment Fund. Additionally Fulton Bank, Low Income Finance Fund, Greater Berks Development Fund, Commonwealth Cornerstone Group, Commonwealth Financing Authority and contributions from owner Leopoldo Sanchez, and grants from the City of Reading and the County of Berks, demonstrate a commitment to economic development and to the residents of the Reading community.
Owner Leopoldo Sanchez said: “Super Natural & Fresh Produce III, the newest addition to the Super Natural family, is bringing fresh, locally sourced produce and a commitment to healthy living to the heart of the City of Reading community. Today marks more than just the opening of Super Natural & Fresh Produce III — it’s a celebration of community, health, and hard work. I’m deeply grateful to not only God and my family, but also Mayor Moran, Representative Guzman, County of Berks, City of Reading, and everyone who believed in this vision and helped bring it to life. Thank you for your support, your smiles, and your trust. Here’s to fresh beginnings and nourishing futures!”
Community and Economic Impact
- Fresh Food Access: Providing affordable and accessible groceries for an estimated 5,900 weekly customers.
- Job Creation: 120 permanent full-time and 30 part-time positions.
- Wholesale Expansion: A second-floor warehouse will supply corner stores and small grocers, reducing supply chain barriers.
- Supporting Local Business: Plans for a tortilla manufacturing facility, with letters of intent from multiple regional buyers.
- Investing in Community: The project is revitalizing a long-abandoned city garage, transforming it into a vital community resource.
- Economic boost: The project is expected to generate a 2000% increase in new tax revenue and spur additional investment in surrounding businesses.
