Change

When I first learned the old building housing the Roosevelt Market was up for sale, it seemed that neighbors had been handed an opportunity to change a cycle of uncertainty for an important community asset. Rather than allow change to be imposed from elsewhere, this seemed like a chance to manage change internally and intentionally. As a community, we could do something to preserve a family of assets occupying the building across from the neighborhood school.

By ‘assets,’ I refer here to Susan, Nicky and their amazing team; I refer to the energy and hospitable vibe they all create through their hard work, good will and endless patience, humility and generosity.

The building itself is just a shell. Just like a church congregation or school, the space the Market occupies is secondary. The ‘sense of place’ is created by activity and energy, not walls. The shell housing the market may not be architecturally significant, but it fits into the setting of the East End neighborhood like a pebble in the hand, because it was always meant to be a market. Birds gotta fly, fish gotta swim, and that humble structure’s gotta be a neighborhood market.

I work in community and economic development throughout Idaho, so I see lots of examples of what I consider essential social enterprise, whether it’s a neighborhood bar, pharmacy, community center or feed store. You can spot them by the people (of all ages and incomes) and dogs (purebreds and mutts) constantly in orbit, and the fact that most of the people are drinking something, and all of the above are socializing. The Roosevelt Market fits that description.

Historically, income from the market has been barely enough to cover expenses, with a little left over for a modest living (barring any hiccups). A new and larger mortgage wasn’t going to help matters.

The idea of a community purchase was a pretty straightforward, if unconventional response to this challenge: pool our resources to retire the mortgage on the building and hold the property in a ‘community land trust.’ No one I talked with wanted to possess the building; but just about everyone shared my own feeling: we wanted to invest in our neighborhood. It might have worked in this case or failed miserably; we can't know if it would be better or worse than an individual landlord, just that some aspects would have been different.

By removing the mortgage from the equation, a land trust could settle on a sustainable lease—one that would cover taxes and insurance with enough left over for a reserve fund and operation, repair and management costs. This would let the Market operators make a living and nurture that sense of place we all have come to appreciate. Most importantly, the folks I heard from said if it ain’t broke, don’t fix it. The consensus was to let Susan and Nicky continue on as before, since that’s what the customer base wanted. I couldn’t agree more.

A complicating factor is that there are two separate entities: an early 1900s building with no land, setback or foundation; and a business called the Roosevelt Market. New landlords own the building now. Like any landlord, they can increase the rent, impose a new lease, or evict the tenants for some other reason; it’s called property rights. Once the deal closed with the realtor—from my perspective—the door to shared community ownership and direction for that specific building closed along with it. As the saying goes, all’s fair in love, war and real estate.

Who knows? The new owners—long-time East End residents—may be just what the building needs at this stage, and taking on this project involved risk and responsibility. Emotions are pretty high, particularly in the aftermath of the Hollywood Market, a fact that complicates the transition.

Personally, I want to learn from this and use the resulting lessons to help other neighborhoods and communities. Around the world, there are great examples of community supported enterprise, cooperative stores and land trusts for everything from farming and ranching to workforce housing. What interest me are opportunities for creativity and cooperation that bring communities together.

Time will tell how things play out with the Market and its current location, and neighbors will each form an opinion on the outcomes based on any number of factors and perceptions. I wish everyone involved the very best, and only hope that the inevitable change doesn’t damage the many long-standing relationships that make this neighborhood a darn cool place to live.

So far, things seem to be moving along on an even keel, and I think everyone is grateful for that. Remember to shop local!

The Roosevelt Market building has been sold

Jaco's last walk was to say goodbye to his pal Susan.

Dear Neighbors:

We learned Friday that a local Realtor made an offer on the building, which was accepted the next day. We also learned that Nicki and Susan had been informed.

We realized a week ago that given such short notice it would be difficult to assemble a community purchase offer from scratch; it was a long shot but seemed worth the effort. None of us sought personal gain or ownership; only a lasting legacy for the East End. We hope things work out, but given this outcome, we are disinclined to put any further energy into this other than to offer our support and gratitude to Susan and Nicki.

The picture above illustrates one reason we put energy into this project; I'll never forget how excited our old dog Jaco was to visit the Market. He always knew Nicki and Susan would be as glad to see him as he was to see them. And he happened to like the 'cookies' they always had on offer. On his last day, he managed to hobble down to say good bye. To Jaco, they were family.

Just so everyone knows what we collectively accomplished the past six days:

• In less than one week, we received over 2500 visits to this page, and 125 pledges totaling $34,100 from neighbors interested in a community ownership model. Frankly, we have been blown away by the response.
• Once EENA board members indicated they were not inclined to take ownership of the building, we began talks with Preservation Idaho on other possible ownership and shared management structures. This would have created a tax-deductible donation option to fund purchase of the building. We hope to build on our experience and help others to adopt strategies for situations like this.
• Researched and compared online crowd-funding options.
• Connected with the Roosevelt Elementary School principal and PTA to invite them to join in a fundraising effort.
• Received offers of legal, accounting, management and design consulting from generous and talented neighbors.
• Lots of conversations about the realities of shared purchase and management; no one wanted to take this leap without knowing what lay ahead.
• Secured space for a neighborhood meeting to bring everyone together this coming week. (cancelled)

The previous building owners have expressed their gratitude to this group and to you all for our combined efforts; they had a serious offer, and as we were still unable able to put in another firm offer, we understand their decision to accept. We appreciate their dedication to the Market business since their purchase in 2003, and hope the new owners can preserve and nourish the good will of the neighborhood and current patrons.

All of this showed how much the neighborhood values the Roosevelt Market, and especially their appreciation for the sense of family cultivated by Nicki and Susan. We are amazed by our neighbors.

New support poll at right

Check out our pledge-o-meter to see impressive support for saving the Roosevelt Market.

Hey Neighbors:
Things are moving along and we're busily assessing various options for securing the home of the Roosevelt Market as a permanent neighborhood asset. We need to estimate the amount of potential support.

There is a simple poll at right that lets you indicate an amount you could and would realistically contribute. While this is not a commitment (and we don't know who you are), please be realistic. Imagine how much the market is worth to you personally and what you are willing and able to contribute if we can put together a way to purchase the building.

Please note: for the purposes of this poll, consider what you would donate. Be honest and vote only once so we have a clear picture.

Thanks to all the generous folks who have offered to help so far. You are what make this neighborhood great!

Our aim is to place the land and building in a permanent neighborhood trust, not to pursue personal financial gain. We envision a future where locals can fly over on their jet packs and schmooze their neighbors...maybe get a soft-serve ice cream or a freshly baked sweet roll and pick out a nice bottle of local wine. It's a legacy thing, not a personal enrichment thing.

What's going on?

Everyone knows the Roosevelt Market. East End residents and visitors, along with current or past Roosevelt Raiders know the impact of the market on our neighborhood.  If you aren’t familiar with the market, click here or here.

Background. The land and building (the real estate) were purchased in 2003 by some East End angel investors that didn’t want to see the market fade away. The Roosevelt Market (i.e., the business piece) was acquired in early 2004 by Nicki and Susan, the folks currently running the show who have earned the trust and confidence of neighbors and students for the past nine years. The Roosevelt Market has been in almost continuous operation as a neighborhood market since the early 1900s. All that could change; that’s why you’re reading this.

The building owners are faced with a need to recover their investment, so the building (not the market) is for sale. This means neighbors face a decision: do we do nothing, and mourn the loss of the market if it goes the way of the Hollywood Market in the North End? Or do we step up to the plate and find a way to secure the market’s place as a permanent historic, economic and cultural asset for the East End?

Here are a few realities:

• Whoever owns the building gets to decide what happens.
• That being said, anyone attempting to change its historic use as a market—or displace the current market mavens—would face an uphill battle with neighbors...not to mention losing ground in terms of existing use agreements. Although many people with good intentions may have a dream for 'the perfect business or boutique,' it would be about as welcome as the ugly sweater you used to get from Noni every year.
• We benefit from the convenience and social amenities of a neighborhood market.
• An option being considered involves raising funds to purchase the building and hold it in a neighborhood trust, which would lease space to the Market.
• Another option is for one or more new ‘angel investors’ to purchase the building and continue to make it available for use as a market (this is why it’s still here). This would last only as long as those investors can afford to have funds tied up in the real estate; it would also depend on the intent of the investor(s).
• A third alternative is to sell shares in the market for a set price; inidividual shareholders would get one vote, regardless of the number of shares held. Shares could be bought and sold, and bylaws would govern various aspects of trading.
• If we do nothing, we can’t complain if the market goes away.

So, several neighbors are busy exploring options and networking. Stay tuned to see what we come up with, and leave comments!

Considerations

• History. The Market has been around for a while...since 1900. See http://www.boisearchitecture.org/structuredetail.php?id=1376 for more info. on the history.

• Added value. Many residents selected the East End as their home in part because of Roosevelt Market. A neighborhood market like this is an amenity that adds value—economic and otherwise—to our homes in many ways.

• Subsidy to equity. Susan and Nicki (and the building owners) have invested heavily in (and taken on risk) making the Market what it is. From block parties and wine tastings to offering to maintain a 'tab' for the convenience of neighbors, their contributions and sacrifice effectively subsidize our quality of life in measurable ways.

• Safety. Whenever there are break-ins, burglaries or vandalism, Susan and Nicki know about it. The kids that attend or play at the school know they can go the Market if they need help, and chances are that someone at the market will know whom to contact if a kid's in trouble (or causing it!).

• News nexus and sense of place. The Market serves as a micro-local, human-oriented news network and neighborhood social hub. Neighbors often go there to catch up with one another and on the latest news or activity that impacts them as homeowners. It's where we post neighborhood fliers for lost pets, job or apartment opportunities, local event posters, and where we ask for recommendations on services.

• Loss of Hollywood Market. The Hollywood Market went up for sale last year and now it's historic role in the neighborhood is gone forever. A yoga studio will be a great use as well, but it's not the same. The cost of remodeling the Hollywood Market has been significant, in large part because the owners were determined to preserve the historic appearance/exterior to the extent possible.

• Limitations. The Roosevelt Market building currently sits on a parcel that is only 0.038 of an acre. Without any setback or easement, it seems impractical to replace the structure with anything new. The historic use as a market is grandfathered in. Any attempt to displace the market would be unwelcome among neighbors, to say the least. New owners could be faced with starting from scratch in terms of permitting.