TPSS Co-op Expansion Project
As an important part of our efforts to fulfill our mission of promoting healthful living by offering wholesome food, high quality products and community resources in a clean, friendly cooperative grocery store that our members own, TPSS management and Board have been considering the possibility of expanding our store for quite a while.
We have been in our current building since1998. Our current facility offers about 5500 square feet of selling space. Food retailers often begin to think about expanding or moving when annual sales reach $1000 per square foot. Our annual sales far exceed that industry standard, and we would like to double the retail space available to us.
Our goals for this undertaking are to:
· Provide us with an opportunity to offer a broader product mix, with a wider variety of price points,
· Create a store that is committed to responsible energy use and conservation,
· Provide new space that will allow us to sponsor regular community programs that will continue to foster a strong Co-op/community relationship.
Last summer, TPSS commissioned a feasibility study for our planned growth and expansion. The report presented the pros and cons of several options:
· Stay in our existing building and expand eastward into the small parking lot.
· Stay in our existing building and expand westward into the municipal parking lot.
· Leave our building and relocate to a new building on the municipal lot or elsewhere.
Our efforts have taken on more urgency, as the Takoma Park City Council issued a Request for Proposals for the development of the municipal lot. It is vital to the future of the Co-op for us to retain control of access to our loading dock and to offer sufficient parking for our shoppers. The Council is hoping to receive proposals that will act as a stimulus to the commercial district and locally-owed, independent businesses; improve the aesthetic appeal of the district; and be contextually sensitive and environmentally sustainable. We will be submitting one or more proposals that address the Council’s goals while enabling us to realize our expansion dreams. To support this initiative, we have created a capital reserve fund of $500,000 and are committed to raising sufficient debt and equity financing.
Please watch your newsletters, email blasts, and our website for up-to-date information on this very important effort.
Questions? Comments? Interested in joining
the Expansion Committee?