Mississippi Rouses Market

Hampton Roads Ventures (HRV) partnered with PB Community Impact Fund to provide $16.4 million in New Markets Tax Credit (NMTC) financing to support the acquisition and rehabilitation of the River Ridge retail shopping center in Picayune, Mississippi. Anchored by a new 40,000 sq. ft. Rouses Grocery Store, this project addresses the critical need for access to fresh, affordable food in a USDA-designated food desert. The grocery store replaces a Winn-Dixie that closed in 2018, revitalizing the community by providing healthy food options and boosting the local economy.

The project created 81 construction jobs and will support 97 permanent full-time positions, with Rouses employing up to 150 people in both full- and part-time roles. The store offers an array of fresh produce, meats, seafood, bakery goods, and ready-to-eat meals, catering to the needs of a community that previously had limited access to such resources. Rouses’ decision to invest in Picayune reflects its commitment to serving loyal customers who previously traveled significant distances to shop at other locations.

HRV’s investment demonstrates its mission to support rural communities and drive impactful development. By funding this essential project, HRV not only helped eliminate a food desert but also contributed to the economic revitalization of Picayune. This collaboration highlights the power of NMTC financing to foster sustainable growth and improve quality of life in underserved areas.