The board of Greenbelt Homes, Inc. (GHI) is considering purchasing 121 Centerway, the building that houses the Co-op Supermarket and Pharmacy and Greenbelt Arts Center (GAC). A joint statement from GHI’s Board and the Co-op Supermarket said, for the first time in Roosevelt Center’s history, the owners of 121 Centerway have expressed a willingness to sell the building. “This presents a rare chance to bring this cornerstone property under cooperative stewardship,” says the joint statement. A special town hall meeting for GHI members to discuss the proposal is planned for Thursday, April 9 at 7 p.m. in the Youth Center gymnasium.
Among the advantages to the Co-op Supermarket identified in the joint statement are access to grants and funding designed for cooperatives and community development, opportunities to upgrade the supermarket and arts center, and the potential for the supermarket to expand deli offerings, have better produce storage, increased seating and improved accessibility. The two organizations also suggested advantages for GHI may include income-generating assets for the cooperative and its members, strengthening Roosevelt Center “as a vibrant, community-driven commercial hub” and reinforcing “shared values of democratic governance and long-term stewardship.”
The GHI and Supermarket boards have not made any decisions or promises, they stressed in their joint statement. “The goal of the Town Hall is to ensure all members understand the financial realities, risks and possible benefits of this purchase,” they stated. A GHI membership vote to authorize the purchase will be scheduled if interest is high enough after the town hall.
Details of the town hall are being developed, but Co-op Supermarket General Manager Dan Gillotte said he anticipates the supermarket and pharmacy will make a presentation or a joint presentation will be given. He was unable to comment on the potential price of the purchase on Tuesday.
Gillotte said the supermarket and pharmacy have long wanted to purchase the building or have another landlord and, with the current owner potentially amenable, he worked with GHI, creating their proposal last week. It’s a purchase that he believes would be mutually beneficial to the two cooperatives. He described this as “a potentially very exciting moment for our co-ops!”
For the Co-op Supermarket and Pharmacy a better landlord relationship will mean improved store possibilities, including fair rent and future building improvements for which their current lease requires the store to bear the costs, said Gillotte. He sees potential for improved sales and presentation; better lighting and atmosphere; properly sized, designed and planned departments; improvements in refrigeration and equipment; better gathering spaces and seating; and the ability to better serve current customers and attract new ones.
GHI members are asked to attend the town hall meeting to learn more. They are also invited to email questions in advance of the meeting to info@greenbelt.coop or replytoghi@ghi.coop, no later than Sunday, April 5. A notice was sent to GHI members via email on Tuesday, March 24, and will also be distributed by mail.
“We really believe this is a once-in-a-generation opportunity for a mutually beneficial real estate transaction to take place that brings community ownership to our jewel at Roosevelt Center.” said Gillotte.
