Oak Street Cooperative

Investing in community to keep resources local.

 

Background

Over the last year, we've been working on a unique and exciting concept. Spearheaded by Matt Cropp from the Vermont Employee Ownership Center and several committed community members, a group has formed to cooperatively purchase the multi-use Chubby Muffin building at 88 Oak Street in the Old North End. 

This co-op structure will allow community members to make small investments of $1,000-$20,000 towards a real estate purchase. Similar to City Market membership, member-owners will own a percentage of the property, receive yearly dividends, and have voting rights and potential for board membership.

This creates an opportunity for us and our community. As neighbors who care about Burlington and the Old North End, we’re asking for your support and for you to consider an investment in what we believe will be a unique, successful, community-driven concept.  

Member Benefits

  • Up to 6% Annual Return on Your Investment

Real estate has always been a safe investment, especially in Burlington. This project gives members the chance to earn a greater return than the bank while giving them the opportunity to invest locally in a project that promotes the values of our community. 

 

  • Maintain the Unique Character of Burlington

A cooperative purchase would demonstrate community appetite for keeping resources local. Member owners will have a stake and voice in the future of this building, and this project would create a model for community owned real estate in Burlington. Already, groups in Minnesota and New York have demonstrated similar cooperative purchasing models. 

 

  • Creation of Two Restaurants + an Incubator for Food Entrepreneurs

There will be two commercial tenants in the main building, as well as a residential unit upstairs. We will operate Poppy, an internationally inspired cafe, during the day, and Maria Lara-Bregatta from Cafe Mamajuana will operate a casual Dominican eatery for dinner service. A portion of this space will be a small market where we can each sell our house-made wares. Think pickles, preserves, hot sauces, salsas, spice blends.

The real estate purchase also includes a 2,000 sq.ft warehouse building that boasts additional refrigerated, freezer storage, and processing capacity. This space will be used by other small food businesses trying to scale up, branch out, or concept test new ideas. By providing affordable access to infrastructure, we can minimize risk and lower barriers of entry for growing enterprises. We’re looking to blueprint how local producers can share space and collaborate. 

  • More Good Food in Burlington

Our goal has always been to create a gathering place nestled in our neighborhood, establish community with customers and provide food that's delicious, healthy, and dynamic. We know this can happen here.