{"id":5857,"date":"2026-06-05T21:32:14","date_gmt":"2026-06-05T21:32:14","guid":{"rendered":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/05\/endangered-river-district-market-project-sees-signs-of-hope-heres-what-to-know-2\/"},"modified":"2026-06-05T21:32:14","modified_gmt":"2026-06-05T21:32:14","slug":"endangered-river-district-market-project-sees-signs-of-hope-heres-what-to-know-2","status":"publish","type":"post","link":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/05\/endangered-river-district-market-project-sees-signs-of-hope-heres-what-to-know-2\/","title":{"rendered":"Endangered River District market project sees signs of hope. Here\u2019s what to know"},"content":{"rendered":"<article><!-- --><!-- --><!-- WPS-5038 -- removed the script from WPS and added the placeholder for trinity player --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- CONTENT --><!--[--><!--[--><\/p>\n<p>Last month, Alchemist Public Market, a proposed multifaceted community space at 341 North 10th Street that broke ground in the burgeoning River District in April, appeared at risk of cancellation due to a funding issue. Timing, not the financial security of the project, was the crux, and all indications were that time was running out.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/05\/a-pride-celebration-is-coming-to-elk-grove-heres-where-and-when-2\/\">A Pride celebration is coming to Elk Grove. Here\u2019s where and when<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The project, which is fully funded with $9.4 million in federal and state grants, ran into a timing gap. Draws from those grants can take 60 to 90 days to process, but the project\u2019s contractors needed payment on month-to-month terms.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The non-profit sought a one-year $3 million bridge loan, but ran into opposition. Absent the loan, the organization feared it would have to cancel the project outright as of June 2. Fortunately, circumstances have changed, and Alchemist CEO Sam Greenlee seems confident there is a path forward.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>\u201cOne key thing is that in the past week and a half, we were able to raise about $770,000 in financing for the project. Most of that is direct loans. A portion of it is very generous charitable gift toward the project, and so that was extremely helpful,\u201d he said.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The organization\u2019s partners, including California EDD and the project\u2019s contractor, D.G. Grenade, also stepped up to help find solutions.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/05\/judge-ends-trump-freeze-on-immigration-applications-of-cubans-haitians-venezuelans\/\">Judge ends Trump freeze on immigration applications of Cubans, Haitians, Venezuelans<\/a><\/p>\n<p><!--]--><!--[--><\/p>\n<p>\u201cThe state identified some efficiencies in the reimbursement process and D.G. Grenade is providing some flexibility on timelines. Combining those makes a big difference to our project cash flow,\u201d Greenlee said.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>In the end, this means Alchemist  needs to drum up a total of about $2 million as opposed to the previous estimate of $3 million. With the funds already raised, that leaves around $1.25 million, but Greenlee says things are in the works.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>\u201cI think between the conversations we have ongoing, and the potential of people hearing about this, and how small the gap is at this point, I think we\u2019re on track for a collection of partners to step in and finish that liquidity gap,\u201d he said.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/05\/woodland-city-council-wants-to-ask-for-voter-approval-of-one-cent-sales-tax-hike\/\">Woodland City Council wants to ask for voter approval of one-cent sales tax hike<\/a><\/p>\n<p><!--]--><!--]--><!-- --><!-- --><!-- --><!-- --><\/article>\n","protected":false},"excerpt":{"rendered":"<p>Alchemist Public Market at 341 North 10th Street closed much of a funding gap after raising $770,000 and revisiting payment plan to keep the project alive.<\/p>\n","protected":false},"author":1,"featured_media":2910,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Endangered River District market project sees signs of hope. 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