Sparkleman

Hub City Co-op

43 posts in this topic


Wow, even better! No offense to HubBub, but their building is not in the best location. For the best exposure, being on Morgan Square is key

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I agree that this is better for the Co-Op plus I feel it will force further retail/restaurant/offices to move up further east past Wild Wing as there are now no more spaces of any real size left on Morgan Square. This could be the factor that drives development up that way.

I still think an Orvis store or possibly a Mast store could work downtown. Orvis stores tend to be smaller and would work on Magnolia St. Mast is bigger but perhaps for our market we could get a smaller version since we have one 30 miles away in Greenville and 45 minutes away in Hendersonville.

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IMO some of the best restaurants are the ones that aren't very large. There are still come vacant buildings towards Wall St... namely that building with the large stone arch. I think it was formerly Carolina Cash Co?

This is why it is so unfortunate that GDJ didn't build street retail in on the north side of the Square in the ESA building.

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Exciting news! The Hub City Co-op has announced their location! It is the old tire store building at 176 N Liberty Street (near Papa's Breakfast Nook). They have 6 months to raise more funds for the building upfit. Announcing a location should help with the fundraising efforts. They're hoping to open sometime next year.

Edit: Herald-Journal article

Edited by westsider28
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The Hub City Co-op has selected McMillan Pazdan Smith as the architects for their building renovation. They received a $10,000 grant from the Food Co-op Initiative for that purpose. They also received a $10,500 gift from VCOM to hire a nationally recognized store planner for the interior design. The Hub City Co-op now has over 700 owners. They need 1,000 owners to get the co-op from concept to reality.

Herald-Journal article

Here are some photos of the announcement & renderings of the building:

post-24605-0-77893700-1350668478_thumb.j post-24605-0-77487800-1350668484_thumb.j post-24605-0-01638500-1350668492_thumb.j post-24605-0-12501800-1350668499_thumb.j

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Yes, more details would be appreciated, if you have them.

I'm amazed that anyone would be willing to take on the challenge of renovating this unsightly, extremely narrow building. It would take a lot of work to make it look decent. But if this truly happens, I'll be thrilled!

Edit: Here's a link which confirms gman430's info (also found it on NAI Earle Furman's website). No more details. Hope to hear more about this soon.

Edited by westsider28

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The Hub City Cooperative and the George Dean Johnson, Jr. College of Business and Economics at the University of South Carolina Upstate is pleased to announce a collaborative initiative that is benefiting students, faculty, Co-op investors, local farmers, and the community-at-large: http://news.uscupstate.edu/2012/12/hub-city-co-op-utilizing-space-and-expertise-at-usc-upstate-johnson-college-of-business-and-economics/

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I thought the Co-op deserved its own thread.  Spartan (or other mod), could you put the previous posts about this topic (mostly in DT development thread) in this thread?

 

The Hub City Co-op is about to begin it's major fundraising campaign.  They already have $500,000 committed.  They are looking to raise $1 million through owner loans and the purchase of preferred stock.  Another $1 million will come from investors and lenders.

 

I'm an owner (you should be too!), and I was at the annual meeting the other day.  One cool thing they mentioned is that the building owner is going to take care of basically all exterior improvements (roof, walls, parking lots, etc) at no cost to the Co-op.  The Co-op pretty much only has to pay for the interior renovations (as far as site prep goes).

 

GSA Business article

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I was checking out the Co-op's website (http://hubcitycoop.org) and they have a rendering of the layout concept. I didn't realize this place would have a café too.

 

plan-site-rendering-on-tb-1-2.jpg

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The Hub City Co-op has secured a $571,800 loan from the Lowcountry Housing Trust.  The loan is contingent on the co-op reaching its $3.58 million fundraising goal by July 12.  This is a huge step toward opening the first co-op grocery store in SC!

 

H-J article

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That is great news.  I plan on joining but just haven't yet.

Me too.  $150 ain't much!

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Unfortunately, the Co-op missed the July 12 fundraising deadline to qualify for a $571,800 loan.  But the lender has allowed more time, so the Co-op plans to restart its capital campaign in the fall.

 

GSA Business article

 

I always thought it was an optimistic goal for such a short time-frame (especially during the summer).  This may push the timeline for opening back, but I'm sure Spartanburg citizens can make this happen eventually.

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The City has laid out a plan to help fund the Hub City Co-op.  The Co-op still needs $700,000 to open.  If the Co-op is able to raise half ($350,000), the City would provide a $200,000 zero-interest loan and a $150,000 operations assistance grant that would be paid out monthly during the first four years of operation.  The City Manager recommended giving the Co-op three to six months to raise the money.  Council will vote on the plan at their next meeting (May 27).

 

I hope the Co-op can raise the money to take advantage of the City funds (assuming they're approved).  As an owner, I'm really looking forward to the Co-op opening.  I hope they can recapture the community support/momentum that I feel has faded a bit.

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The City has laid out a plan to help fund the Hub City Co-op.  The Co-op still needs $700,000 to open.  If the Co-op is able to raise half ($350,000), the City would provide a $200,000 zero-interest loan and a $150,000 operations assistance grant that would be paid out monthly during the first four years of operation.  The City Manager recommended giving the Co-op three to six months to raise the money.  Council will vote on the plan at their next meeting (May 27).

 

I hope the Co-op can raise the money to take advantage of the City funds (assuming they're approved).  As an owner, I'm really looking forward to the Co-op opening.  I hope they can recapture the community support/momentum that I feel has faded a bit.

I'm a member too and anxious to see things beging to move along.

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The Spartanburg Downtown Association recently committed to buy $10,000 worth of stock in the Hub City Co-op, which is great to see.  Last I heard, they have over $100,000 committed of $350,000 needed by October 31.  I really hope they can make it, as this would be huge for downtown.  I'm afraid it may take some big donations/investments at the 11th hour.  But that's happened before with fundraising campaigns in Spartanburg, so maybe it can happen again.  (If anyone reading this has copious amounts of cash burning a hole in your pocket, please invest!)

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The Spartanburg Downtown Association recently committed to buy $10,000 worth of stock in the Hub City Co-op, which is great to see.  Last I heard, they have over $100,000 committed of $350,000 needed by October 31.  I really hope they can make it, as this would be huge for downtown.  I'm afraid it may take some big donations/investments at the 11th hour.  But that's happened before with fundraising campaigns in Spartanburg, so maybe it can happen again.  (If anyone reading this has copious amounts of cash burning a hole in your pocket, please invest!)

I sent my $150 in more than a year ago. 

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I have friends that gave their $150 more than 3 years ago. If it looks like it will ever get off the ground (I am very skeptical), I'll drop them $150.

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They already have $2 million committed, so they're very close (and actually up over $150,000 for this final campaign now).  You should go ahead and buy an ownership now, as this is the make-or-break time and any contribution will help them.  This is the rare opportunity for regular people to make a real, concrete impact on making our downtown a better place.  If you check their FAQs, you'll see that if they don't open, you'll get (at least some of) your money back: "Each owner will receive a pro-rata share of their investment: investment less expenses."

 

(*steps down from soapbox*) :thumbsup:

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I bought my ownership when this campaign started.

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Great news!  The Hub City Co-op announced at Monday's City Council meeting that they have met their funding goal!  It will be the first co-op grocery store in the state when it opens by the end of the year.  We're getting a DT grocery store!  :yahoo:

City article

H-J article

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I was at the Hub City Co-op's annual meeting this evening.  Clayton Construction and H. General Contractors were selected to do the store work.  The co-op is waiting on approval for a loan, which should come around May 1.  Construction should begin at that point and take about 6 months.  They're hoping to open the store by Thanksgiving.  They are also in the process of hiring a general manager for the store.  They can still use new owners and donations, so tell your friends!  Can't wait for the co-op to open!

 

H-J article

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Building renovation is now underway for the Hub City Co-op!  If you know anyone who's been holding out on becoming an owner, tell them now's the time to join in, because this is happening!  Edit: Herald-Journal article

12011250_942075275831716_303864475263458

Edited by westsider28
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The Herald-Journal had an article today with more info on the co-op's design, construction, and progress.  The exterior design has changed a bit.  It looks like they're stripping off the grey paint and going with bare brick, which looks good to me.  Wish there were some higher-res renderings somewhere.

12027133_1115064341838328_53174601774051

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