A website for the Church Hill Market has recently sprung up, announcing a new market selling natural foods, deli, wines and imported beer to come to 2824 East Broad Street.
this is a dream come true.
There website is up and has some products on there… it looks real nice- if I made 200k a year. It is amazing how quickly the neighborhood has priced out not only the low income residents but now the working professional! We need access to good food at a reasonable price.
Does anyone know what’s happening with this? I’d heard that this was supposed to open in Fall 06. I don’t even think they’ve started construction.
I wish something was done with that building on Broad Street. It is a real eyesore in the area. Furthermore, it’s not helped by the chainlink fence surrounding the property. And, for what reason–there is nothing happening there. The gutted shell has remained idle for a few years. How long does the city permit barriers (chain-link fence) to block the street and sidewalks? I think reasonable time has expired on this one.
Does ANYONE know what the story is with this site? Is the “Church Hill Market” really coming there or has it fallen by the wayside?
I notice they change the seasonal decorations in the window but nothing else sees to be happening here.
Sure, they have an ad in the Church Hill Newsletter, but does anyone …. ANYONE…. have any idea when they plan to open the store itself?
it seemed so promising.. well besides the really TOO expensive stuff they were peddling. I fear this is another example of Richmond not being able to bring ANY retail/commercial space into the city. It is kinda sad actually….
I don’t think this has anything to do with the City of Richmond. An ill-conceived business plan is doomed to fail. The reality is too much was paid for a badly decomposed “shell”. The renovations would be very costly to develop the property as proposed. For anyone familiar with operating a grocery/ prepared foods business, the margins are very thin. In order to generate any reasonable return on investment, this location would have to drive considerable volume to survive based on their plan.
The assumption was unrealistic and the scale of the operation was far too big for the site. Bottom line–it would have been a money losing operation. That location will only support a narrowly focused business specializing in either one service or category of merchandise that is not labor intensive (much like the others in the neighborhood.) A dry cleaner, a coffee shop, a pastry shop, a sandwich shop, a deli, an ice cream parlor….. All would be more realistic in this neighborhood that probably will not yet support a lot of volume. Most of these shops are mom and pop operated to minimize labor costs. Walmart and Kroger are masters at merchandising, vendor price negotiations, logistics, and driving volume. Their grocery operations net an average operating profit of 3%. I hardly think this location would be able to survive and provide the investors with a reasonable return on investment considering the volume.
How can the tenants afford to pay the mortgage each month while the building remains vacant? I’m getting a little sick of these people who get started on renovating a dilapidated building, only to suddenly halt progress, making the building look WORSE than before they started. Another example is the abandoned renovation of one of the old laundromats on Marshall St.
You’re absolutely right Ruth.
That building was no beauty prior to renovations–but, it’s worse now since the interior has been completely gutted and has no systems.
In it’s current state, it’s worth less now than the purchase price. I’m sure the owner would love to unload it at it’s purchase price but…that too, would be unrealistic. One of the best uses right now may be to renovate the building and convert it into a single family home and try to break even.
So if they are not going to go through with the market, why are they still spending money advertising in the CHA newsletter and why bother to maintain a website?
can someone give an update on progress of the market. I noticed recent changes outside.
Friends and neighbors,
I apologize for the lack of communication on the Church Hill Market project but, since there are more interested parties on this site than mine, I am making this entry to update you all as well as I can.
I am still holding on to my dream of having a great neighborhood grocery at 29th and Broad. I have my zoning approval, a business plan, a website, construction drawings and have just today received my approval with the Department of the Interior’s National Park Service for historic tax credits.
During all this time I lost my operator/partner to Whole Foods Grocery, so I am now researching possible new operators. (Suggestions are welcome!) I am also looking at alternative construction plans to possibly lower my construction cost and make the feasibility of actually bringing the Church Hill Market to us all a reality, even if I have to scale it down a bit.
As always, I welcome your comments and your support. Thank you.
Thanks for the update, I was wondering about the Church Hill Market just this weekend.
Mr. Wyatt, please keep us neighbors up to date on the progress of this building. I know a lot of where/still are looking forward to his establishment.
Please sell this place if nothing is going to happen to the market in the NEAR future..it is not fair to the neighbors
Any updates? The neighbors would really like to know what is going on with the market. With the new plans for the playground/park renovation going under way…it would be nice to know that this area of Church Hill including the market will finally get the upkeep it needs…please give us an update regarding the market.
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