Old North End Expansion
November 3, 2016
Old North End Expansion Update
We presented a recommendation about our Old North End (ONE) plans to our Board of Directors in October. This recommendation reviewed our extensive due diligence with financial data and estimates of associated expenses and store sales for a potential ONE store, the South End store and their impacts with our current downtown store. In light of the significant financial investment, time and resources needed to successfully open the South End store, the Board authorized my recommendation to “hold and assess” the ONE site. This means that we will hold the ONE site by paying rent on it until the spring of 2018. At that point we will assess our South End store performance and see whether it makes sense to move forward with ONE store development.
We recognize and share the tremendous level of Member enthusiasm and support for a ONE store. However, the initial transition from one to two stores is something that many co-ops have struggled with and we need to ensure we’re doing this well before committing to further expansions. Rest assured that we are doing everything we can to successfully establish the South End store so we can progress with expansion in the ONE.
June 8, 2016
City Market Considers Expansion in Burlington’s Old North End
Co-op considers location on North Winooski Avenue
Burlington’s community-owned food cooperative is considering expansion into the city’s Old North End. For many years, Members have asked the Co-op to open a City Market in this area of town that’s part of the Co-op’s over 43-year history.
The auto parts store located at 242-244 North Winooski Avenue (next to the Central Market and across from the McClure Multigenerational Center) closed several months back and the property is currently for lease. This spring, City Market worked with a consultant to forecast potential sales for a Co-op at this location and has been working closely with Redstone, who recently purchased the building.
City Market has tentatively signed a lease agreement with Redstone on this space. This agreement gives City Market’s management team until October 24, 2016 to conduct some additional due diligence before committing to the full term of the lease. The space at 242-244 North Winooski Avenue includes 6,000 square feet upstairs with an additional 6,000 square feet in the basement and a 2,000 square foot outbuilding. If City Market were to move forward with this location, they anticipate opening as early as the fall of 2017, following the planned grand opening of the South End store.
City Market’s General Manager, John Tashiro, shares his excitement for this potential next phase of expansion. “Our Members have been clear that they’d like us to have a presence in Burlington’s Old North End and we’re eager to complete our due diligence on this new location. Redstone has been a great partner in the process of exploring how this location could be beneficial to our Members. They’ve also been responsive to our need for a flexible timeline, given all the current work we’re doing on our South End plans as well.”
Director of Community Engagement
About City Market, Onion River Co-op: The Onion River Co-op is a consumer cooperative, with over 11,600 Members, selling wholesome food and other products while building a vibrant, empowered community and a healthier world, all in a sustainable manner. Located in downtown Burlington, Vermont, City Market provides a large selection of local, organic, and conventional foods and thousands of Vermont-made products. Visit City Market, Onion River Co-op online at www.citymarket.coop or call 802-861-9700.