Urban Greens intends to open a community-owned, self-sustaining retail grocery store that will provide local, healthy food to consumers of all income levels. The grocery store will provide a unique shopping experience in Providence’s vibrant marketplace. The store will feature locally sourced goods from farmers, fishermen, and specialty food producers in Rhode Island and throughout New England, in addition to a more conventional product mix.
The Urban Greens Food Co-op will be located just west of downtown Providence, at 93 Cranston St: centrally located where the neighborhoods of Federal Hill, West End, and Upper South Providence all come together. The location of the grocery store is well-situated to support a customer base not only from Providence’s densely populated urban core, but also from the surrounding western suburbs, with easy access from I-95, Route 6 and Route 10, with up to 40 parking spots to accommodate customers. Urban Greens will offer competitive prices to increase local food access to its wide customer base.
The Co-op is seeking to raise $600,000 in preferred stock, with a minimum investment of $2,000. This stock will have an annual dividend of 2%, and will accrue in any year not paid. This funding is a key part of the Urban Greens Start up financing, and will help make sure that the Co-op is able to open it’s doors and thrive once open.
Providence’s West and South side neighborhoods lack access to healthy, locally produced food. At the same time, small Rhode Island farms and food businesses do not have access to stable year-round retail markets. Urban Greens Food Co-op will open a full-scale community-owned grocery store in Providence’s West End Neighborhood, filling a missing link in Rhode Island’s growing food economy, and creating a solution to both challenges. The store will provide and promote local, healthy, affordable, and culturally appropriate food. By connecting farmers to new, large and regular markets Urban Greens will significantly increase the availability and consumption of local products, while at the same time improving public health and the Rhode Island economy. The innovative ownership model of a consumer co-op will ensure that local sourcing is a strong priority. The scale of Urban Greens will allow greater purchasing power which will result in more affordable for Rhode Islanders.
Once open, Urban Greens will be more than a grocery store; it will be a cultural crossroads, a source of local foods, health and wellness, an economic engine, and a reflection of community members’ values and priorities. Community ownership and local sourcing priorities will keep more money in Rhode Island and in particular, help more money recirculate into Rhode Island’s farms and food infrastructure. The market power of a committed consumer base will help RI food start-ups launch and scale up. Urban Greens’ commitment to providing locally produced goods paired with consumer education will increase food security as well as access and market interest in local foods. Urban Greens will lead the way to a broader, more accessible local food economy in Rhode Island by bringing locally-produced food to the grocery retail market.
DISCLAIMER: This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by prospectus or other offering materials. There are risks associated with an investment in our company and you should not invest unless you can afford the loss of your entire investment. The State of Rhode Island does not recommend or endorse the purchase of these securities.
Corey Auger - Chairperson
Antonieta Falconi - Secretary
Harry Siple - Treasurer
Cassie Tharinger - Council Member
Philip Trevvett - Vice-Chairperson
Byron McMasters - Council Member
Allyson Brathwaite-Gardner - Council Member
Seth Sokoloff - Council Member
Fay Strongin - Council Member
Thea Upham - Council Member
Winston Groman - Council Member