Greetings!
We are making meaningful progress in our Expansion & Relocation Project to relocate Green Fields Market into the former Wilson’s Department Store building.
In mid-May we received a preliminary offer from MassDevelopment to provide reasonable financing for a significant portion of the amount required to take on this challenging renovation. Although final approvals are required and various contingencies must be met, this is a major – and truly thrilling – step forward. In early discussions, other funding sources are expressing renewed or new interest in being part of the project. With this funding as a foundation, we believe we will be able to put our full financing package in place before the end of this year.
In addition, we are now confident in the timeline provided by our project partners. We are targeting closing on the building in March of 2026 and beginning our store’s construction shortly thereafter. We can communicate this clear timeline to our potential lenders, a critical component of their requests during earlier conversations.
At our next regularly scheduled Board meeting, the Board will take a formal vote to shift from “on hold” to “proceed with intent” on this project. That vote will serve as the “go ahead” to take the next major steps in the project, including moving forward with final construction planning and securing the remainder of funding needed. This is the point at which the Board will allow member loans to become accessible.
See more details below, and answers to Frequently Asked Questions about the planned expansion here.