Tuesday, January 06, 2009

Downtown Schnucks Plodding Forward

Looks like the long-awaited downtown Schnucks store is finally about to become a reality, as Legacy Building Group will begin construction this month. The 20,800 sf store will occupy the ground floor retail space in the Ninth Street Garage in Old Post Office Square and is expected to open in the summer of 2009.

According to the Business Journal:
Getting the store up and running is estimated to cost $7.56 million. Schnuck Markets is paying $3.42 million for tenant improvements, inventory and other opening expenses. The remainder is coming from a combination of state, federal and city subsidies, including the federal New Markets Tax Credits.
It's great to see this project moving forward. Hopefully Schnucks and City Grocers can successfully co-exist, despite their proximity.

3 comments:

Dr. Danielle said...

I already started hearing rumors in the late summer of '08 that City Grocers was going to close with the mere threat of Schnuks opening downtown. I had heard from a commerical real estate agent who works downtown that they would be closing by the end of 2008, but obviously that hasn't happened and hopefully won't!

Brian said...

^
Yeah, I'm thinking that they'll probably have to make some major changes to their business model in order to survive with Schnucks right across the street. Maybe eliminate all "grocery" items and focus almost entirely on the deli, prepared foods, wines, microbrews, and other high-end items.

Matt Kastner said...

I know the actual space is already constructed, but this summer seems like a pretty quick turnaround to have that place open. Their alterations are going to take time to complete so they better get started.