Investment news, for those worried about Whole Foods

fplaceastside.jpgSince West Seattle currently has the city’s only under-construction Whole Foods Market, and since the chain’s money woes continue to fuel chatter, we thought we would share this story about a major investment that pumped up its stock today. WF and local developers have continued to reiterate this project’s on track; here’s our most recent report.

29 Replies to "Investment news, for those worried about Whole Foods"

  • Denny January 8, 2009 (2:46 pm)

    still no crane in sight…

  • CB January 8, 2009 (2:55 pm)

    If I were the developer, I’d be getting several years of lease payments upfront and an iron-clad agreement. Whole Foods pulled a fast-one on the Magnolia development, which remains empty.

  • Sue January 8, 2009 (3:00 pm)

    Denny, if you read TR’s previous coverage at https://westseattleblog.com/blog/?p=12372 it says the construction will start “sometime after the first of the year” so that probably explains why no crane yet – it’s only 8 days into the year.

  • 4thGenWestSider January 8, 2009 (4:03 pm)

    What we need are some more banks and nail salons! Maybe we could incorporate some sort of mega financial-cuticle establishment after Whole Foods “offically” bails out?

  • nuni January 8, 2009 (5:00 pm)

    Oh you mean 3 grocery stores on one corner is too much?

  • chas redmond January 8, 2009 (5:11 pm)

    Well, that’s kinda cool, isn’t it? That now we can look forward to walking range grocery competition in the Junction. Previously the only real area where this was possible was Admiral (PCC/Safeway/MetMarket). I would suggest a “grocery” competition of some form could be developed by readers to “shop” Admiral and Alaska Junction and see which location had the most expensive, cheapest, most exotic, most common – sort of a demographics of groceries competition. That would certainly be a fun outing for a foodie – I consider myself both a foodie and a chocoholic so we could also throw in that element and the Junction might win with Husky Deli and Bakery Nouveau alone.

  • nuni January 8, 2009 (5:19 pm)

    I’d suggest getting a grocery store in the High Point area. That would be nice. Or how about Highland Park. There’s no need for 3 grocery stores within this close of a proximity.

  • sam January 8, 2009 (5:31 pm)

    Chas: re: grocery competition.
    I’ve already researched diapers :)

    FYI: Thriftway charges the most for the
    7th generation brand: $ 15.49

    Met market: $ 12.99
    Fred Meyer: $ 10.79
    QFC: $ 10- $ 11
    Amazon Fresh $ 9.50

    don’t know what they charge at whole foods.

    but food- yeah that would be a fun competition.

  • cruiser January 8, 2009 (5:33 pm)

    Nuni,

    It’s nothing to do with need it’s about profit. It’s where these guys think they can get the most foot traffic and make money. They prefer to compete in a busy area than to be stand alone in area where they feel there isn’t the demand and for demand you can read $$.

  • the_bridge_to_somewhere January 8, 2009 (6:08 pm)

    Totally worthless comment, but man, it would have been so much better for me if this property were going to be a Trader Joe’s instead . . .

  • Ikonoklast January 8, 2009 (7:14 pm)

    Whole Paycheck is a scam. Corporate Amerika attempting to be environmentally correct but only in it for the profit$ Support local farmers and shop at the community-focused PCC instead.

  • Alvis January 8, 2009 (8:59 pm)

    I’d be pleased and excited if Whole Foods pulled out of the deal and the new anchor tenant were a Bullseye Bodega. That’s the new chain of discount clothing and variety stores that Target has designed for urban neighborhoods where big box stores with acres of parking are not welcome and not feasible, but mixed-use projects are.

  • jsrekd January 8, 2009 (9:27 pm)

    that Bullseye sounds interesting – thought I’m with tbts, I wish it could be Trader Joes

  • Jill January 8, 2009 (10:21 pm)

    nuni, that’s a great idea, we would probably still be living in Highland Park (with the house paid off no less) if there were a few essentials within walking distance. But on the other hand, if there were those things, my house would’ve cost a lot more, and it wouldn’t really be paid off by now, lol!

  • Alex January 8, 2009 (10:48 pm)

    Worried? Not exactly. There’s enough options available.

  • mrhineh January 8, 2009 (10:57 pm)

    There are plenty of empty (car) lots still available if TJ’s wants in. The question is, why not WS? Burien? I for one, do not get it (taking nothing away from Normany Park, but reallY?)

  • sd January 8, 2009 (11:21 pm)

    I ask TJ’s every time I go to Burien or Cap Hill WHEN they are coming to West Seattle. The most recent conversation I had w/a manager (?) who has worked for TJ’s for 13 years. He said that since TJ’s is a private company they open their stores with their own cash so their growth is very deliberate and methodical. Perhaps we don’t make the cut on demographics? Unfortunately the next planned TJ’s is for Ballard and he said no plans are being laid for West Seattle. I like Whole Foods but can’t see myself shopping there a ton w/food (everything) prices the way they are.

  • rbj January 9, 2009 (6:47 am)

    I won’t shop any non-union grocery stores (of which there are few) and especially not Whole Foods.

  • Steph January 9, 2009 (7:59 am)

    Not the right demogphics in WS for a Trader Joe’s??? And Burien does??? I think we have more than enough people that fit the TJ profile. I won’t ever shop at that Whole Paycheck place. Just can’t afford it.

  • Steph January 9, 2009 (8:09 am)

    There. Just emailed TJ and told them it’s stupid NOT to have a TJ in West Seattle. Wonder what would happen if all of us would do the same thing for like a week?…Maybe they would get tired of hearing from us and take the hint….

  • No More Same Old Same Old January 9, 2009 (9:01 am)

    Ikonoklast & rbj – PCC could benefit from a bit of competition, even if it comes from a big money hungry chain like Whole Foods. I say that as someone who has been a member of the West Seatle PCC since it opened it doors in 1989, (or was it 1990?) I really like PCC, but a good chunk of the store staff is in need of a customer service smack in the head and having WF down the street might get them to get their acts together and not take the dedicated and committed membership for granted.

  • nuni January 9, 2009 (9:34 am)

    You can’t really compete with WF’s deli though. It’s friggin’ awesome!

  • Jen V. January 9, 2009 (9:57 am)

    Steph, I just sent them an email also. Told them there is a vast, untamed, grocery-store-less area in the east portion of WS just perfect for a TJ’s.

    I can’t afford Whole Paycheck…which is a pisser, because it will be the closest walking distance store from my house.

  • food eater January 9, 2009 (12:41 pm)

    I’m glad the Whole Foods project is still on track. Maybe that way Safeway will improve their store (which in my humble opinion is a pit). I realize that Safeway is more affordable, but what a dump.

  • d January 9, 2009 (2:24 pm)

    Has anyone noticed that the diversity of food choice is better at the Roxbury Safeway than at the Jefferson Square store, for that price point? This perception, along with that lamest of parking lots at JSquare is enough reason for me to skip it completely.

    But, TJ’s as an alternative? I have never understood the appeal. But, choice is good for everyone.

  • nuni January 9, 2009 (4:43 pm)

    I only shop at the Roxbury Safeway. It’s always cleaner and better stocked than the Jefferson Square one.

  • miws January 9, 2009 (4:55 pm)

    I’ve only been to TJ’s a few times, and it’s been several years, so a question for the regulars….

    .

    Does/has TJ’s ever asked shoppers their zip code? Of course, e-mail is a great way to let TJ’s Corp know of the desire to have one in a particular area, but I think asking the zip code question would be a good idea too. I’ve been asked my zip code by other businesses in the past.

    .

    Now, I know some customers don’t like to share any “personal” info, and I despise the company policies that insist an employee ask a customer’s address, or push “loyalty cards”. I, personally don’t usually have much of a problem sharing that info, but many people, understandibly, do, and I think it’s extremely offensive to both the customer, and the employee that is required to ask, sometimes up to three times per customer.

    .

    “No” from the customer one time is enough. The customer should not have to deal with being asked more than once, and the employee should not fear getting written up if they don’t meet a quota. But, providing a zip code just gives a general idea of a customer’s location, and many people likely don’t mind providing that.

    .

    Geez! How the heck did I get clear up on that soap box just asking a simple question? ;)

    .

    Mike

  • Carole January 9, 2009 (7:56 pm)

    I always pay by check at TJ’s so they have my zip code. I am on their mailing list. I usually shop the Burien store because I work in Kent, and it is “sort of” on the way home to WS. I bet a HUGE # of their shoppers are from WS. I assume most of their further south end customers go to the Fed Way store.

  • Ryan January 21, 2009 (11:41 am)

    Let’s see $35 million project (more or less)at 6% interest. Interest only payments during construction at $175,000 per month. Yeah I don’t think it is that big of a deal to not be working on it since late October.

Sorry, comment time is over.