The Georgetown Metropolitan

It’s been relatively quiet on the Save Scheele’s front for a little while. GM started even to hear neighbors wonder whether the sale was being held up due to the ongoing credit crisis. Much of this speculation was based on the observation that construction appears to have ground to a complete halt at Marc Teren’s other project, the Williams-Addison house. So today into that speculative void stepped a fresh update from Save Scheele’s leader Mike Peabody.

He wrote to the supporters:

The contract between Marc Teren and the Scheele trust is on hold pending an appraisal of the property. After many months of negotiation between the community and Marc,  we reached agreement for the continuation of the store for up to 25 years as long as it continues to be financially viable. In return we will be helping Marc renovate the store by paying him $75,000 which together with another $25000 for expenses we hope to raise from the community. We look forward to implementing that agreement if the contract between Marc and the Scheele’s goes forward and to a happy conclusion in the new year. Happy Holidays!

Congratulations goes out to Mike and all those that pitched in. While many questions remain over the future of the market and the role the Lee family will play in that, for now it is enough to celebrate that we will likely have a Scheele’s Market at least through the 30’s.