Hunger Mountain Co-op purchased 707 Stone Cutters Way, the 1.6-acre lot adjacent to the Co-op, unlocking immediate and future opportunities.
Hunger Mountain Co-op has purchased the 1.6-acre parcel directly east of its store from rk Miles, a family-owned building materials supplier whose lumberyard was destroyed by fire on November 1, 2023. The acquisition provides immediate benefits—including expanded parking and storage—while creating long-term opportunities for growth. With more room to accommodate customers, store bulk purchases, and potentially expand facilities, the purchase positions the Co-op to better serve its more than 10,000 member-owners well into the future.
This purchase is a key part of our long-term vision to deepen the Co–op’s values of health, sustainability, and cooperation. Back in 2012, we anticipated a need for more parking and retail space. This agreement allows us to explore those options while continuing to serve our vibrant community.
The property’s availability presented a once-in-a-lifetime opportunity to secure adjacent land for immediate use and long-term growth. For years, member-owners and staff have identified the need for more parking, storage, and potential expansion.
It allows for the potential of expanded parking, product storage and store expansion. Since it is right next door, we will be able to embark on any of these projects while maintaining store operations.
It supports our mission to strengthen community, promote sustainability, and ensure long-term operational stability. The purchase is a strategic investment in the Co-op’s future capacity to serve members.
The council and management have consistently acknowledged the potential of acquiring the adjacent lot since at least the 2024 Annual Meeting, when members raised questions about the opportunity.
We began exploring the possibility seriously in the fall of 2024, after the property’s owner expressed interest in selling. At that point, we followed standard fiduciary and governance practices by conducting due diligence in private. This included reviewing financial terms, legal considerations, environmental assessments, and potential risks.
As with any significant transaction, maintaining confidentiality during negotiations was critical. It helped safeguard sensitive information, prevent market speculation, and preserve our ability to reach a fair and favorable agreement.
The purchase was unanimously approved by the council on July 22, 2025, and the purchase was finalized on September 4, 2025. The Co-op immediately made the investment public through a press release, the eNews, and this FAQ. How we will use this land to advance our mission is something we expect to discuss with member-owners and others over the coming months and years.
General Manager (GM) Mary Mullally has collaborated with the council the entire way. She shared the earliest explorations of purchasing the property; when it seemed like it made sense to move forward with a formal offer, the council voted at its November 12, 2024 meeting to authorize her to enter a purchase and sales agreement; she shared results of the environmental assessments and other due diligence investigations as they became available; and the council voted to approve the purchase at its July 22, 2025.
This might not have been formally necessary. The council has a long-standing investment policy that authorizes management to invest prudently in a wide range of instruments, and this property purchase is authorized by that policy. However, it’s such a major move for the Co-op, both the GM and the council thought close collaboration was the way to go.
Actually, yes. Both initiatives were months in the making and on independent tracks:
Each process followed its own timeline—neither affected the other.
No. Wages are funded entirely through the Co-op’s operating budget. After staff wages and bonuses are paid, a portion of the profits are retained every year for growth opportunities like this and/or improvements and repairs of the existing store. (See below for the three-part split of profits.)
Just this: The Co-op divides its net profit into three parts:
So, workers have received bonuses over the years from the same pot of money that the Co-op has used to invest in its reserves, and these two shares have been about the same. As an example, the gain share for the fourth quarter of fiscal year 2025 was $1.82 per hour for hours paid; that works out to a bonus of around $950 for those three months, for a full-time worker.
The purchase price was $487,500, funded from the Co-op’s reserve funds, which were previously invested in U.S. Treasury bills. No loans were required to finance this purchase, nor will the purchase put pressure on the Co-op to raise prices.
This investment was made after careful analysis of our financial position and in alignment with our mission and long-term strategic goals. Owning the adjacent property provides short- and long-term operational benefits—such as expanded parking, on-site storage, and improved logistics—that can lower costs over time. It also secures a unique, once-in-a-lifetime opportunity to expand and improve services for members and the community well into the future.
No. In fact, increased capacity to buy products in bulk could help reduce costs.
This reallocation diversifies our investments and acquires a local, mission-aligned asset that provides short- and long-term operational value and potential return.
Phase 1 and Phase 2 Environmental Site Assessments have been completed. Our understanding, from experts in the field, is that the assessments show this site to have far less contamination than comparable industrial sites that have been developed in the region. The site is eligible for enrollment in Vermont’s Brownfields Reuse and Environmental Liability Limitation Act (BRELLA). Further assessment is needed before we can determine parameters for use.
BRELLA provides liability protection for existing environmental issues if the property is remediated according to state-approved plans.
This will depend upon further environmental assessment and plans for the site.
A site-specific flood risk management plan will be developed as part of the planning process, incorporating best practices for climate resilience.
The acquisition was finalized on September 4, 2025.
One of our first priorities is to utilize a portion of the property for staff parking. This will free up spaces for customers and reduce costs for off-site rentals.
Options are being assessed. Short-term uses may include storage; longer-term plans will be informed by member input, zoning guidelines and environmental remediation indications and timelines.
Possibilities include expanded retail space, community gathering areas, gardens, housing, or a local producer hub. Again, final outcomes will be determined by many factors.
Through surveys, forums, in-store comment boxes, and public meetings announced via eNews, social media, and in-store postings.
The final answer depends on what we decide to do. Co-op bylaws require member approval to “materially expand the Co-op’s building structure.”
Initial site improvements will begin with repairing fire damage to the exterior of the building. A multi-month planning process will follow, incorporating environmental and zoning requirements.
Email us with your name, contact information, and a brief description of your experience or ideas.
Yes. Dates will be announced through all Co-op communication channels.
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