Our 2019 and 2020 investment offering to help fund our expansion ended November 1st 2020, and we came very close to our final goal of 1.1 million in owner investment. We raised over $650,000 via our preferred share offering during the capital campaigns.
Just like any other successful business, it takes significant owner investment to make any expansion happen. Our project will continue to move ahead as demolition has started and we finalize plans for the newly expanded store.
After the first capital campaign we have spent a lot of time revising the store plans, financial expectations and programs for the new co-op and are confident those decisions will contribute to a bigger and better Sioux Falls Food Co+op. With the help of National Co+op Grocers and the Development Cooperative, alongside our fabulous architects at Koch Hazard and the construction team at Fiegen Construction, we have been able to reduce the cost of the expansion by nearly half-a-million dollars. This was done through vigorous work from all partners to find cost-effective solutions that would have little to no impact on the shopping experience.
How big will the new store be?
The Co-op will take over the office space directly to the West, which will allow us to be the sole occupants of the building, doubling our square footage to 8,000 feet.
Are we moving?
No. You might hear casual reference to the “new store” but it’s really just an expansion of our current space. Our address will remain the same.
When’s it going to start?
Pending a successful owner investment campaign, construction is slated to begin Summer of 2020.
When will it be finished?
Great question. Construction is projected to take approximately four months, with some work ongoing inside the store after the main construction is finished.
Will the store be closed during construction?
No. The store will remain operable throughout the process. We will begin remodeling the half of the building we currently do not occupy, move operation into the newly remodeled space, and remodel the old store space.
What departments are expanding?
All areas of the store will see improvements, with a focus on fresh departments and deli. Our goal is to meet the demands of Co-op owners and shoppers that have told us they want more deli options, indoor seating, expanded selections in meat, dairy and alternatives. Providing a shopping experience that is both comfortable and inclusive is a priority.
Will there be indoor seating?
Yes. We are very excited to be able to add the indoor seating to provide a comfortable and welcoming place to enjoy our expanded deli options, in response to our owners’ and shoppers’ requests!
What sustainability measures are being incorporated into the process?
Just like the original remodel of our current space, there will be a focus on energy efficiency on all new and existing equipment, LED lighting throughout the entire building and HVAC systems that reduce energy use as much as possible. All salvageable materials in the expanded space will be reused or donated to Habitat for Humanity. Improving the backroom and receiving areas to allow for efficient product movement will also help reduce energy use by minimizing the amount of time cooler and exterior doors remain open.
How can I get involved?
Co-op owners have the opportunity to invest in the Co-op by purchasing equity in the form of Preferred Shares. This is a great and transparent way to invest your dollars directly into your local community. You can also get involved by spreading the word about our expansion and owner investment campaign, and of course, by continuing to shop at the Co-op!