For over a decade, Brahm Ahmadi of the People’s Community Market has been attempting to create an oasis in West Oakland’s food desert, which according to Ahmadi has not had a full service grocery store since 2006.

Happily, with the recent escrow closing on a property located at 3103 Myrtle Street (near San Pablo Avenue), the market is one step closer to finally becoming a reality.

While People’s Community Market had been able to secure $1.2 million in funding from approximately 400 investors who participated in the market’s direct public offering that launched in 2012 , for the past few years, the project had seemed to stall.

The main reason for the delay, according to Ahmadi, has been the incredible challenge of navigating the bloated Bay Area real estate market in order to find the right location for the market.

Ahmadi says that following multiple unsuccessful negotiations, in which potential landlords were asking for 200-300% over market value, he approached the East Bay Asian Local Development Corporation (EBALDC) for help. The non-profit, which helps develop and manage affordable housing and retail spaces for local small businesses and community centers, agreed to help facilitate the project. Ahmadi describes the partnership as a win-win relationship.

The market also now has an anonymous angel investor — a retired Wall Street hedge fund manager who grew up in Oakland — who has loaned the money to purchase the property to EBALDC, who will then serve as the landlord for the market. To give the project a strong runway for takeoff, Ahmadi says that EBALDC will lease the property to the market for free for the first three years.

Ahmadi says that acquisition of an actual property is a game changer for the market and the company will now be launching a second DPO to help secure an additional $778,000 in funds.

Actual groundbreaking is expected to take place in November, with construction getting underway in December. If all goes to plan, Ahmadi is aiming for the market to open in late 2017.

People’s Community Market, 3103 Myrtle St. (near San Pablo Ave.), Oakland. peoplescommunitymarket.com