August 30, 2006 - Recently, Local Initiatives Support Corporation has been recognized in Shopping Centers Today, a magazine for the retail real estate industry, for its excellent work in rejuvenating urban core communities through its investment in neglected or nonexistent shopping centers.

While most businesses fail to see the potential profit in communities that by traditional standards and statistics are poverty stricken, LISC has successfully drawn investors and national companies to these blighted areas which need commercial opportunities most. Where families once had to ride an hour on buses to reach the closest grocery store, thriving shopping centers now stand. In New York City's Harlem, LISC helped finance a 50,000-square-foot Pathmark, which has become the chains highest volume store, and quickly following its introduction other national chains such as Blockbuster, the Body Shop, CVS, Footlocker, Marshalls, Staples, and Starbucks have appeared along the same street.

Following in New York's footsteps, Greater Kansas City LISC has also seen the potential and the need for commercial opportunities in Kansas City'’s urban core. In the Fall of 2005, the Shops on Blue Parkway, a new 150,000- square-foot retail shopping center backed by a $1.5 million line of credit by Greater Kansas City LISC to Swope Community Builders, opened and become an initial asset to the once forgotten area. The shopping center features a 55,000- square-foot Baron's Foods grocery store, as well as national tenants such as H&R Block, Footlocker, and Subway. The Shops on Blue Parkway are one of many projects which Greater Kansas City LISC has assisted through its Lending and Development programs.

To read the Shopping Centers Today Article please click here…