Friday, January 8, 2010

Non-update on Ellwood Thompson's

After months of trying, I finally got in touch with Rick Hood, the owner of Ellwood Thompson's, the organic grocery store that is attempting to move into DCUSA.

I say non-update because he didn't have much to say -- there's nothing new to report, ET is still working on it everyday, and they hope to be able to tell something soon.

Fingers crossed.

UPDATE: I should have mentioned the tax break that ET's received in November, but I haven't heard much from them about that. Ed Bruske of the Slow Cook spoke to Hood in mid-December, and he sounded much more optimistic then. Maybe something has changed since that interview. Here's the interview with Bruske:
"We're making progress. We're working with the developer," Hood said. "We've had this recessionary change, and there's a reluctance on the part of the developer to make any change in the economic structure of the rent... There’s a really good chance we will work it out."

Any issues with getting financing? "We’ve made progress there."

4 comments:

Ed Bruske said...

There was this update, less than a month ago:

http://www.theslowcook.com/2009/12/17/where-is-ellwood-thompsons/#more-3440

Andrew said...

Thanks. I should have mentioned the tax break, I'll add it.

Jim said...

As a person involved in retail real estate in DC since 1990, I can state with certainty that the developer--Grid Properties, and its President in particular--remain delusional on where market rents have fallen. For years, those of us in the business felt this persistent smarmy attitude from New Yorkers when they deigned to visit the sleepy southern burg of DC. There's definitely an element of that going on with Grid. Someone ought to tell them to read their very own New York Times on Friday, which reported that the NYC commercial real estate market is in very rugged shape. I hope things work out with ET, I'd love to think that Grid can eventually "get religion". I'll sit tight and watch.

Tim said...

andrew, to see what we are missing check out some photos i took last a few months ago:

http://the42bus.blogspot.com/2010/01/if-elwoods-thompsons-came.html