Whole Foods Market, Inc. (WFM)

ANNAPOLIS, MD — Construction is underway on an apartment complex at the Annapolis Town Center. The 175-unit development is marketed as an "active adult" community for residents aged 55 and up. The property will be owned by Greystar, a residential developer founded in 1993 and headquartered in Charleston, South Carolina. Greystar manages $78 billion in assets, including over 1 million multifamily units and student beds. The company operates in 250 global markets. The five-story building will include a library room, club room, amenity kitchen, fitness and movement studio, pet spa, pool and exterior courtyard. The development will span 2.17 acres at 1900 Towne Center Blvd., across from J. Alexander's Restaurant. It will include a mix of one-, two- and three-bedroom units. Leasing is anticipated to start in spring 2026. The first units are scheduled to be available in fall 2026. A sketch of the complex is posted here. "Our Annapolis Town Center project represents our continued commitment to delivering high-quality, thoughtfully designed communities for active adults," John Beinert, senior director for Greystar Development, said in a statement. "This location offers the perfect blend of walkability, convenience, and lifestyle amenities, and we're proud to contribute to the growth and vibrancy of the Annapolis Town Center." Related: The Annapolis Town Center has over 50 stores and restaurants across 557,000 square feet of space. Businesses at the center include Whole Foods Market, Target, Life Time Fitness and Tatte Bakery & Café. Development is booming at the Annapolis Town Center and at two new projects across Riva Road. Retail plazas Beacon Square and the Shoppes at Riva have already welcomed their first batch of businesses. Related: Annapolis Town Center Matching Donations To Texas Flood Victims Foodies can head to Beacon Square for Firebirds Wood Fired Grill, Moby Dick House of Kabob and Jersey Mike's Subs. Arhous is open and selling upscale furniture, while Visual Comfort & Co. offers trendy lighting fixtures. Meg Fox Aesthetics, GNC supplements and Aspen Dental are also open, while the Avalon apartments are now available for rent. There's also a space for a large supermarket, but there's no word yet on who may occupy the store. The Shoppes at Riva are also expanding. Discount grocer Aldi, stir fry restaurant Honeygrow and Quickway Japanese Hibachi are the headliners already open. Naz's Halal is under construction, promising kababs and gyros in the near future, and Thrive Nails and Spa is also preparing to open. Salon Lofts' hair studios are already open. Related: Get The Latest Local News (For Free!) With One Quick Tap

Your favorite grocery store could disappear or may have already closed due to a perfect storm of market conditions that range from rising food prices to labor and other operational challenges to evolving consumer preferences. There’s no single reason for the closures. “Grocery always has been a business with slim profit margins,” Barbara Kahn, a marketing professor at the University of Pennsylvania’s Wharton School, told Patch in a telephone interview. Given the economic strains, “the ones on the margins won’t make it,” Kahn said. That doesn’t necessarily mean hometown independent grocers and smaller chains will be squeezed out, or that juggernauts like Walmart, Costco and Amazon will get bigger. Survival in the industry goes beyond profit statements, and stores with smaller footprints that listen to what customers want may be among the greatest winners, Kahn said. Here’s a quick look at some of the closings: Courts have blocked giants Kroger and Albertsons from going ahead with what would have been the biggest grocery store merger in U.S. history. Together, they own about 36 store brands. Kroger and Albertsons said the merger would allow them to compete with Walmart, Costco and Amazon, along with newer national players, discount grocers like Aldi and specialty stores like Trader Joe’s. The Federal Trade Commission and several states sued to block the merger, arguing it would harm consumers and workers by reducing competition, and the court agreed Now, both companies are re-examining their footprints. Kroger interim CEO Ron Sargent said in a June 20 conference call that the company would be closing 60 unprofitable stores nationwide over the next 18 months. Kroger didn’t disclose where the stores are located, but the United Food & Commercial Workers labor union and various news outlets have reported stores in Georgia, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Tennessee, Texas, Virginia, West Virginia and Wisconsin are targeted. Albertsons sued Kroger after the merger was blocked, alleging it had intentionally derailed the deal, stating in the lawsuit that it would be “identifying additional opportunities for value creation through the optimization of our substantial real estate footprint and other assets.” It didn’t say where the stores would be located, and pointed out the closures could take place over several years. Even behemoth Walmart with more than 4,600 U.S. locations plans to close some stores. The largest U.S. grocer said earlier this year it would close 11 underperforming stores in California, Colorado, Georgia, Maryland, Ohio and Wisconsin. Among other stores that are closing, according to a list compiled by Yahoo Finance, are: Creating value isn’t just about offering the lowest prices, but doing business in a substantially different way that makes customers want to shop there, Kahn said Mom-and-pop grocery stores and smaller chains have an outsized opportunity to create value by building on local tastes and traditions that will make customers want to shop with them, Kahn said. “By looking to see what the competition is doing and doing better than the competition, you can draw a buzz,” she said. “What you can’t do is keep doing what you’re doing, which is particularly true in groceries because the margins are so slim.” It’s a smart strategy for high-end stores, too. Some that are doing it well are H-E-B in Texas and Wegmans Food Markets in the Northeast, Kahn said. “They’re not the cheapest, but people are willing to pay for an upscale experience,” she said. One area where traditional grocery stores have taken a hit is in the sale of profit-generating “middle aisle” merchandise sold in large or bulk quantities, such as diapers, toilet paper and other household supplies. More consumers are ordering online and having the items delivered, and stores are also facing competition from drugstores, home improvement stores and other nontraditional competition, Kahn said. Labor costs remain a challenge for grocers, although some are affected to a greater degree than others, she said. Warehouse stores like Costco are able to shave labor costs by not breaking up bulk quantities. Other stores have used self-checkouts. “Retail theft is the flip side,” Kahn said. “That’s a constraint on profitability.” Technology exists to monitor customers’ grocery bags as they leave the store, but stores must weigh the costs of the technology versus the cost of theft, as well as the cost of hiring employees to staff checkouts. “Bottom line, grocery is a difficult business that takes discipline because it’s not just about marketing,” Kahn said. “Supply issues, e-commerce — although not a huge competitor, somewhat of a trend — and non-traditional stores, all making the business difficult.” In a tight economy, grocers are also reviewing whether their stores are in the right places. “In general, the U.S. was ‘over-stored’ for a while,” Kahn said. “There are some efficiencies in closing stores in areas that are over-served.” You may also like: