Five Questions With: Corey Auger

Corey Auger, chairman of the Urban Greens Food Co-op, is preparing to open the first community-oriented grocery in Providence, on the site of a former manufacturing building in the city’s West End.
Corey Auger, chairman of the Urban Greens Food Co-op, is preparing to open the first community-oriented grocery in Providence, on the site of a former manufacturing building in the city’s West End.

Corey Auger, chairman of the Urban Greens Food Co-op, is preparing to open the first community-oriented grocery in Providence, on the site of a former manufacturing building in the city’s West End. The project already has captured state investment, in the form of support from the R.I. Commerce Corp. He responded to questions posed by the Providence Business News on the site for the endeavor.

PBN: Urban Greens will occupy a new space in a building that will take the place of the now-demolished Louttit Laundry building. What are the advantages of new construction for the operation?

AUGER: There are two key benefits to new construction for Urban Greens Food Co-op. First, it means more control in overall design, being able to lay everything out within the store in the most effective way possible. And being able to work with a great team of developers has made it easy to plan everything from the front to the back. Second, it meant being able to locate the store at 93 Cranston St. This location was our top choice, and is perfectly situated to serve three distinct neighborhoods (Federal Hill, West End and Upper South Providence), while also being adjacent to downtown, and having easy access from the highways (Interstate 95, Routes 6 and 10). This site has been an empty lot since 2008, so locating here meant being part of a new construction project.

PBN: How many sites did you evaluate before deciding on this option, and what were some of the negatives to them, i.e., a renovated structure?

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AUGER: We looked at too many sites to count in the early phases. Out of our initial search process, we identified four sites with strong potential, and contracted with a national food co-op and grocery market analyst to conduct a market-feasibility study, and target sales projections for each location. [The site at] 93 Cranston St was clearly the best location based on this study. With that said, we did also look into the others, but it quickly became clear that renovating an existing structure did not necessarily mean lower costs or quicker timelines. If cost and timeline were in the same ballpark, then new construction at 93 Cranston St was definitely the best scenario.

PBN: What is the market for the Urban Greens business. What area, physically, will you draw from?

AUGER: Urban Greens will be a full-service grocery store that prioritizes local sourcing. We will draw customers from the local surrounding neighborhoods, but also from all over the Greater Providence metro area and Rhode Island. This will be a unique shopping experience that combines full grocery store inventory with farmers-market-quality goods. There is a big gap in Rhode Island when it comes to availability of local goods in a retail setting. Urban Greens is positioned to promote and emphasize local sourcing in a grocery setting that will increase both market awareness and convenience of local foods. Food co-ops thrive in communities across America, both urban and rural. One great example of a food co-op in a similar area to ours is Seward Community Co-op in Minneapolis, which has opened a second location in an extremely diverse area with low access to grocery stores. The store has not only thrived as a business, but has also been a great source for local jobs. That’s something we aim to do as well.

PBN: You are now raising funds for the endeavor. How do you explain this to investors?

AUGER: Urban Greens’ Community Investment Campaign recently surpassed $200,000 in investments. This investment opportunity is registered with the state as a Series A Preferred Share of Stock, and is a rare opportunity for Rhode Islanders to earn a return on investment while supporting a community project. We have already received investments from over 45 individuals or families, with folks investing amounts averaging around $5,000 per investment. This is a great example of community capita, many people directing investments to a company right here in Rhode Island. Not only will the investment earn a return and help get the business open, but by directing more investment capital into the local Rhode Island economy, it helps spur economic development. Anyone can learn more at Urbangreens.com, or email us at invest@urbangreens.com

PBN: How much of a need is there in this community for locally sourced, fresh foods? How far away is the closest supermarket?

AUGER: Urban Greens will fill a significant need by expanding access to healthy and locally sourced foods. A [Local Initiatives Support Corporation] study from 2012 showed $8.7 million in food and beverage retail sales leaving the West End neighborhood alone [LISC Metro Edge Metrics]. This doesn’t include Federal Hill or Upper South Providence, which also lack major grocery access, and points to scale of need in this area. As a community-owned store, Urban Greens is committed to serving its customers and community members, which includes promoting healthy foods, sourcing local and culturally appropriate produce, and creating strong nutrition and healthy cooking classes in the store. Approximately $1 in every $10 in health care spending goes toward treating and managing diabetes and its effects, and Providence’s underserved communities have the highest rates of diabetes in the state. Not only will Urban Greens make it easier to get healthy and local food, it will also help address some of the serious chronic health factors that face Providence residents.

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