One of Austin's favorite grocery stores, consumer-owned Wheatsville Food Co-op, has announced an expansion — which will mean more locals getting on board as owners. The store announced July 10 it would be opening two new locations in Hyde Park and Allandale, provided it raises enough funds.
The Hyde Park location will be at 408 E. 43rd St., and the Allandale location will be at 2917 W. Anderson Ln. These two locations currently occupied by Fresh Plus Grocery, a local chain. The post by Wheatsville thanks Fresh Plus for its coordination.
This news fulfills a promise from Wheatsville just over a year ago in 2024, when it announced it might have to close its then-43-year-old location at 3101 Guadalupe St. The problems largely came from challenges with Light Rail construction that would make the store difficult to access for both customers and suppliers, according to a company bulletin. Sales for the location had also halved over the last decade, and the building needed major repairs.
The Guadalupe store's lease expires in 2026, so it set out looking for solutions to replace it. At the end of the same month that the bulletin went out — although a new location hadn't been chosen yet — the store's Instagram account posted that it was time to "get serious," seeking investors in North Central Austin.
It set a goal of $6.5 million in investments. In a comment, a store representative explained owners can invest a minimum of $2,000, which gets them a 3.5 percent return, or $10,000 for a 4 percent return. Funds would go toward the logistical needs of moving and opening, plus staff training and expanding.
That goal means 3,250 investors will have to join as owners. They'll then have a democratic say in how the company runs, plus perks like daily extra savings, coupons, profit sharing during "sufficiently profitable years," and eligibility to join Austin's University Federal Credit Union (UFCU).
This June's call for investors encourages potential owners to email invest@wheatsville.com for more information on the process.
