City’s investment will make grocery co-op a reality & help revitalize Uptown via job creation, community programming, & preservation of historic Gerber Building
CHICAGO, IL, UNITED STATES, July 18, 2022 /EINPresswire.com/ — Today, Mayor Lori Lightfoot announced that Chicago Market is among 79 organizations being moved forward for Community Development Grants totaling more than $49 million that will be funded from the Chicago Recovery Plan (CRP) and Tax Increment Financing (TIF) programs. With this support, Chicago Market, an innovative grocery co-op that plans to play an important role in the continued revitalization of Uptown, takes a major step closer to its planned opening in late 2023.
The investment from the City of Chicago adds to the investments already made by Chicago Market’s supporters and co-op Owners and clears the path for moving into the project’s final phase of development. This round of investment caps off a year of significant progress for the project which includes the hiring of Dan Arnett, a luminary from the food co-op space to serve as the Market’s General Manager, closing on the 10-year lease of the Gerber Building from the Chicago Transit Authority, finalizing the preliminary store design, and beginning remediation of the property’s basement in anticipation of the final buildout.
“We have made significant progress in breathing life into Chicago Market on behalf of our more than 2,200 Owners who have already invested their time and money to see the Market open. This support from the City is a big step forward in our quest to open,” said Matthew Ruffi, President of Chicago Market’s Board of Directors. “We would like to extend our heartfelt appreciation to the City for believing in our project and thank Alderman James Cappleman, Alderman Harry Osterman, Sarah Wilson and the Uptown Chamber of Commerce team, and the Chicago Transit Authority for their continued partnership and support. We look forward to continuing to work with the Chicago Development Commission, the Chicago Department of Planning and Development, and the City Council as we work to open our doors to the Uptown community and beyond.”
Chicago Market will be an innovative grocery experience, built on the cooperative business model, that breaks down the traditional barriers that limit access to healthy, local foods and promotes the sustainability of the local foodshed and economy. The Co-op will offer over 9,000 square feet of locally sourced and sustainable foods; create more than 75 local jobs, and offer education and programs to the community that improves access to healthy food. The planned 2023 opening of the Market coincides with the 100-year anniversary of the Gerber Building which Chicago Market calls home.
“Chicago Market is one of many exciting things happening in Uptown,” said James Cappleman, Alderman for the 46th Ward which includes part of Uptown. “As one of the most diverse and vibrant wards in all of Chicago, I’m excited to see Chicago Market choose Uptown as its home. Chicago needs more businesses that reflect the diversity of our city and the values we have to create a welcoming and sustainable future for all. Chicago Market will do all of that and more.”
ABOUT CHICAGO MARKET
Chicago Market is a community-owned grocery co-op that exists to rebuild the connection between food producers and consumers. Powered by its members, who each own a stake in the store and are referred to as Owners, the co-op will feature local, sustainable foods from producers right here in the Midwest.
Chicago Market, which plans to open in late 2023, will be located in the historic Gerber Building, home of the former ‘L’ station at the corner of Wilson and Broadway in Chicago’s Uptown neighborhood.
Learn more about Chicago Market at chicagomarket.coop.
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Chicago Market Logo (Chicago_Market_Logo.jpg)
Gerber Building, Home of Chicago Market (Chicago_Market_exterior.jpg)