$338,500 Raised in 2 Months!

Your Store, Your Investment

A unique way to earn a return on investment and support your community.

 

Community Investment Campaign Recap

Now that our June Investment Campaign has ended, we want to thank all the investors and volunteers who helped make this campaign such a succcess! With support from over 80 investors, we raised $338,500 in community investments in just 2 months! That means that we've raised over half the quity needed to make sure Urban Greens not only opens, but thrives as a community owned and oeprated business. The success of this campaign is a testament both to the impact of community capital and to growing excitement around the Co-op. 

Without so many committed and excited individuals, we would never have made it this far. Thank you!

It's not too late to invest! 


Urban Greens is ready to be an anchor community business:

  • A leader in local sourcing
  • Dedicated to being inclusive: from leadership and hiring, to local food sourcing, to our Food For All program
  • Offering farmers market quality, 7 days a week


An opportunity to invest where you live and see your investment grow.

  • Minimum 2% annual interest rate
  • May redeem after 7 years at full value
  • May redeem after 12 years at 120% of full value
  • Interest accrues during any unpaid year


FAQ:
How much needs to be raised?
$600,000 in investments from the community.

Why community capital?
Community investments allow the Co-op to take on less debt and become the thriving and unique store we all envision.

When does the Co-op need the community capital?
Right now! Community investment is critical to getting our doors open!

 

Urban Greens Funding Sources

This is not a donation. This is an interest-bearing investment that will help open Urban Greens. You'll be able to walk into your investment, browse your investment's shelves, and buy local food from farmers that your investment supports. Questions? Email us at invest@urbangreens.com or call us at 401-267-8432.

 

Ready to Invest?

 

All potential investors should read the Offering Memorandum available at urbangreens.com/invest. Offers are made only by Offering Memorandum and other offering materials. Open to Rhode Island residents only.

The Latest on 93 Cranston Street

Preliminary mock-up of 93 Cranston Street, by Bourne Avenue Capital Partners.
 

Urban Greens Food Co-op will be locating our future grocery store at 93 Cranston Street, the site of the old Louttit Laundry building. The co-op will be the anchor commercial tenant in a mixed use development including 39 residential units--8 of which will be "low-income" housing and 31 will be for "work force" housing. Urban Greens will be the sole commercial tenant, occupying 8000 sq ft of ground floor retail space in one of the two buildings.

 
Facade of the former Louttit Laundry building at 93 Cranston Street
Facade of the former Louttit Laundry site located at 93 Cranston Street, corner of Cranston Street and Thomas P Whitten Way. The building was demolished in 2008.

 
The former Louttit Laundry site has been abandoned since 1985, and has been an empty lot since 2008. Owned by the Providence Redevelopment Authority (PRA), it was a Brownfield site, requiring environmental remediation. The city was supportive of the co-op’s desire to locate the store on the site, and the PRA and Urban Greens have worked together over the last two years to create a plan for the site, and bring the appropriate developer on board to purchase and develop the site. The development team is a partnership of Bourne Avenue Capital Partners, Truth Box Studio, & D+P Real Estate.
 
Preliminary site layout for 93 Cranston Street. Building 1 will be the home of Urban Greens Food Co-op. The Co-op will occupy 7000 sq ft of retail space on the ground floor with 2 additional floors of housing. Building 2 will be all housing with parking garage on ground floor. There will be 37 residential units between the two buildings.
Preliminary site layout for 93 Cranston Street. Building 1 will be the home of Urban Greens Food Co-op.  The Co-op will occupy 8000 sq ft of retail space on the ground floor with 2 additional floors of housing.  Building 2 will be all housing with parking garage on ground floor. There will be 39 residential units between the two buildings.


This site is ideal in so many ways for Urban Greens Food Co-op. It’s situated at the nexus point of three diverse neighborhoods: Federal Hill, West End, & Upper South Providence, as well as being just west of downtown, and easily accessible from I95 and Rts 6/10. We’re incredibly excited to help meet the food needs of our immediate neighborhood residents while at the same time helping to expand consistent retail access to locally sourced foods in the Providence Metro area.

 
The overall mixed-use project will cost approximately $10 million. In January 2016, the development as a whole received $2.7 millions in Rebuild RI tax credits which will allow for groundbreaking in the fall of 2016. Urban Greens Food Co-op has worked to build strong community support, with over 700 member-owners, and has also worked with expert consultants at every phase of the project, with full financials completed by Leshinsky Finance. Urban Greens is projected to open in the fall of 2017, 12 months from the start of construction.
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