Hub City Co-op recently fell short of their July 12 fundraising goal to secure a $571,800 loan from the Lowcountry Housing Trust.
According to the co-op, the lender has “agreed to allow more time,” and the group plans to restart its capital campaign in the fall.
The extended time allows the co-op to start searching for a campaign manager, said Erin Ouzts, chairwoman of the cooperative’s board. In addition, co-op owners have been notified of the fundraising schedule extension.
The co-op plans to purchase the building at 176 N. Liberty St. in Spartanburg and begin construction once fundraising is finished.
“With the extension of the fundraising, the closing date on the building has been extended to early February,” said Sharyn Pittman, project coordinator. Hub City Co-op had previously planned to start construction in mid-August and open in May 2014.
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For more information, visit hubcitycoop.org or email the co-op at info@hubcitycoop.org.
