A new bakery and cafe is coming to the Hollins Market neighborhood thanks to local developer and neighborhood resident Noble Baier. The first floor will be home to an 1,800 sf retail operation, supported by a co-op style commercial kitchen in the basement. CityWorks, Baier’s development company, will provide the baking equipment as a way to lower barriers to entry for emerging bakers and food-based entrepreneurs whose goods will be sold on the first floor.
While the property was once a bakery in the late 19th century, it has served a variety of functions over the years. The current buildings were erected in 1890 and 1949, but were partially demolished and left vacant in later years. Baier undertook a comprehensive, $600,000 full gut rehabilitation to bring the building back into use.
As part of this project, Baier successfully got approval and built five apartments on the upper floors to make this project more feasible. Doing so brought greater density to the neighborhood and allowed for greater flexibility in the commercial space.
NIIF was proud to support this project with a $675,000 bridge loan to enable CityWorks to finish construction, stabilize the property, and ultimately secure long-term commercial financing.