Belmont Savings Surpasses $1.5 Billion in Assets

Photo: Belmont Savings Bank.

Business in Belmont is good, according to the latest financial filing from the parent company of Belmont Savings Bank.

According to second quarter data released on Thursday, July 23, BSB Bancorp, Inc., saw assets under management pass the $1.5 billion threshold as year-to-date earnings increasing by nearly 75 percent. By June 30,  total assets were $1.55 billion, an increase of $126.5 million or nearly nine percent compared to the first three months.

“We are pleased to announce a continuation of our organic growth and improving profitability,” said Bob Mahoney, the bank’s president and chief executive officer.

As in previous quarters, the company’s strength was in traditional bank instruments such as lending:

Net loans growth of $112.9 million, or nearly 10 percent, from Dec. 31:

  • Residential one-to-four family loans, increased by $72 million
  • commercial real estate loans, $29 million,
  • construction loans, $12 million, and
  • home equity lines of credit, $11 million, respectively.

Partially offsetting lending increases were decreases in commercial loans and indirect auto loans of $8 million and $2.4 million, respectively.

The asset growth was funded by a jump in deposits which totaled $1.15 billion on June 30, an increase of $165 million, or 17 percent, from $985 million at Dec. 31.

“Second quarter deposit growth was driven by our expanding municipal banking program as well as the continued success of our targeted strategy for the legal profession,” said Hal Tovin, executive vice president and chief operating officer said.

Belmont Savings Bank provides financial services to individuals, families, municipalities and businesses through its six full-service branch offices in Belmont, Watertown, Cambridge, Newton and Waltham in Southeast Middlesex County, Massachusetts. The Bank’s primary lending market includes Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. The company’s common stock is traded on the NASDAQ Capital Market under the symbol “BLMT“.

Soup FOR You! Spoodles Soup Set for September Opening

Photo: Jose Rios.

Jose Rios wanted to tell the 3o or so people attending the Belmont Zoning Board of Appeals meeting on Monday, July 13, at the Belmont Gallery of Art how he runs Spoodles Soup Factory, his eatery/take out in Foxboro.

But Board Chair Eric Smith cut him short. Without air conditioning, the third floor in the Homer Building was about as hot one of Rios’ five-alarm chili bowls.

The interruption did not indicate any trouble the board had with the special permit Rios was applying for to open his second outlet at 374 Trapelo Rd. adjacent the Studio Cinema in the former home of Cafe Burrito. In fact, the application was approved unanimously by the ZBA Monday. 

Unlike the memorable character on “Seinfeld” who would find multiple reasons not to serve you soup, Rios is looking for ways to get customers to come back time and again to take his soup.

“I will bring back old-fashion customer service, where my employees will take the time and answer every question to guarantee you’ll enjoy what you pay for,” the Grafton resident told the Belmontonian. 

The restaurant, open Monday to Saturday, 10 a.m. to 8 p.m., will serve fresh salads, wraps and sandwiches along with a variety of soups and chili from the staples such as chicken noodle to the adventurous chipotle sweet potato or chicken enchilada. 

The 768 square-foot location will have 13 seats and employ five employees.

Rios, who started his first eatery in West Newton 33 years ago, said he is looking to open by the first week in September when the weather gets cooler and school is back in session. 

Zoning Board Denies Special Permit for New Pizzeria on the ‘Hill’

Photo: George Rozopoulos before the Zoning Board of Appeals.

Wilmington businessman George Rozopoulos could only shake his head minutes after the Belmont Zoning Board of Appeals voted 3-1 to deny the applicant of three Rizzo’s Roast Beef & Pizza outlets the opportunity to open his fourth on Belmont Hill.

“Very disappointed,” he told the Belmontonian after the meeting held in the uncomfortable confines of the un-air conditioned Belmont Gallery of Art in the Homer Building at the Board’s meeting on Monday, July 13,

Despite being “grandfathered” in the town’s zoning book as a commercial site, a majority of the board followed the lead of several nearby homeowners who spoke on a laundry list of concerns the 18-seat restaurant would present to the residential nature of the neighborhood.

“If this were a convenience store … I would have no problem because it would be grandfather … but restaurants bring new issues” on the area, said ZBA Chair Eric Smith.

Rozopoulos can appeal the decision in court or wait a year before resubmitting an application.

The building at 92 Park Ave. – the location until the early 1990s of Sage’s Market and two recently unsuccessful retail operations, Belmont Market and Olive Deli – is located adjacent to the intersection of the access road off of and on to Route 2 a stone’s throw from Arlington. It shares the lot with Fresh Start Contracting.

The town designated nine parking spaces on either side of Park Avenue to the site.

Many of the residents concerns were based on their personal observations that the pizzeria would create parking issues in the surrounding residential neighborhoods and along Park, which experiences morning and evening congestion.

“Do nine spaces exist? I would say ‘yes’ but on a practical basis, I’d say no,” said Janet Coleman of Knox Street, one of the leaders opposing the pizzeria. “It’s not a place for a restaurant,” she added.

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Stating that he “nothing against the restaurant,” Rutledge Road’s Fred Haggerty commented that current traffic is backed up into Belmont Center during the afternoon rush hours, “so there is no good access to parking,” made only worse since there was no plan for employee parking at the site. The result will be cars lining the nearby residential roads.

Other concerns included rats and mice seeking to feast on meat in the trash, wild animals, the smell of grease and having an “entertainment” center that would include customers watching baseball games on televisions in the restaurant.

Referring to Rozopoulos’ statement to the town he hoped the “location would be cool” place for kids and parents could come and enjoy a meal, “you may want to make this a hip place but not on Belmont Hill,” said Knox Street’s Jean Harrington.

After the vote, Rozopoulos said he felt the residents had misdirected their ire onto him rather than the true culprit.

“[Parking and traffic] has nothing to do with me. It’s there now, it was there before, and it will continue to be there,” said Rozopoulos. “I felt [those in opposition] concentrated more on existing parking issues and that’s a town responsibility. It didn’t have anything to do with the restaurant.”

“Any type of business that goes there is going to be traffic there is nothing you can do,”
said Lisa Haslam of Keller Williams Realty, the location’s real estate agent.

“More and more people are coming with convenience stores, but they always fail. We’ve had a very difficult time to find someone who is well established, who can come in and know what they are doing. [Rozopoulos] has shown he knows how to run a business,” Haslam told the Belmontonian.

“This is another business not coming to Belmont,” she said.

 

Sold in Belmont: Million-Dollar Plus Colonials (and a Ranch) Return

Photo: Classic Dutch Colonial at 30 Hurd Rd.  

151-153 Beech St., Triple decker (1905). Sold: $905,500. Listed at $ 899,900. Living area: 3,029 sq.-ft. 14 rooms, 3 bedrooms, 3 bath. On the market: 31 days.

33 Woodfall Rd., A grand brick ranch (1956). Sold: $1,375,000. Listed at $1,349,000. Living area: 2,623 sq.-ft. 8 rooms, 4 bedrooms, 3.5 baths. On the market: 56 days.

38 Cowdin Rd., Traditional Cape (1951). Sold: $771,000. Listed at $715,000. Living area: 1,535 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 57 days.

23-25 Beech St., Two family (1890). Sold: $720,000. Listed at $ 715,000. Living area: 2,978 sq.-ft. 13 rooms, 4 bedrooms, 2 full, 2 half bath. On the market: 54 days.

30 Hurd Rd., Classic Dutch Colonial (1928). Sold: $1,200,000. Listed at $1,079,000. Living area: 2,010 sq.-ft. 8 rooms, 4 bedrooms, 2 full, 2 half bath. On the market: 63 days.

61 Spring Valley Rd., Sort of a ranch/colonial hybrid (1957). Sold: $1,460,000. Listed at $1,549,000. Living area: 3,865 sq.-ft. 12 rooms, 5 bedrooms, 5 baths. On the market: 122 days.

19 Highland Rd., Brick/frame Dutch Colonial (1921). Sold: $1,350,000. Listed at $1,299,000. Living area: 3,687 sq.-ft. 11 rooms, 4 bedrooms, 3.5 baths. On the market: 122 days.

17 Knox St., Nondescript (2004). Sold: $928,500. Listed at $939,000. Living area: 2,323 sq.-ft. 8 rooms, 5 bedrooms, 3 full and two half baths. On the market: 87 days.

A Trio of Friends’ Lemonade Stand Sells Out on the Fifth of July

Photo: Ava Sullivan, Mitra Morgan and Ariana Sullivan selling lemonade.

By 6 p.m. on Sunday, July 5, the neighbors were coming back from their July 4th holiday, just about the time that sales at the lemonade stand at the corner of Fairview Avenue and Falmouth Street started picking up.

Manning the operation were 14 year old Mitra Morgan and 13-year-old twins, Ava and Ariana Sullivan. The Sullivan sisters had the idea of selling lemonade – with real lemon slices – and since Morgan was actively raising money “we decided to do both together,” said Ariana. 

Morgan, who will be a freshman at Belmont High School, is raising money for the cheer team which she made during tryouts as a Chenery student.

The trio brought in $32 – at 50 cents a cup – which provided to be a successful afternoon of commerce for the young entrepreneurs. 

“It was really fun. We got to meet our neighbors,” said Ava, who with her sister were homeschooled and will be attending the Chenery in the fall.

One such resident they got to know was Bliss who lives on Falmouth Street and got the final cup of the day after seeing the girls driving home.

“Who doesn’t love lemonade?” she asked. 

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Ohlin’s Celebrates A Century of Baking for Belmont (And That Means Donuts)

Photo: The Klemm family – Paul Jr., Paul, Marybeth and Emily – who own and run Ohlin’s Bakery in Cushing Square.

There are three certainties in Belmont: the roads need repair, Ohlin’s Bakery at 456 Common St. will be open for the holidays (you name the celebration, the Cushing Square shop is ready for business) and, you will not find a better donut anywhere in Boston, or, as some have claimed, in the entire United States.

This year, the well-known Belmont institution – who hasn’t spent time enveloped in the wonderful warm aroma on an early morning visit? – marks its century of making and selling pastries, bread and, of course, donuts in the same general location since it first opened its doors in 1915.

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“We have people come from far away who say, ‘We’ve come for your donuts,’,” said Marybeth Klemm, who runs the store with her husband, Paul.

In a world where upscale patisserie target hipsters with high-end donuts made with Pineapple Habanero, dark chocolate pomegranate and Sesame Sriracha priced at $3 a pop, Ohlin’s continues to outclass the competition with its traditional, homespun approach to the business.

The old fashioned, lovingly-worn storefront (it could be a movie set for a film set in the 1960s) is alive each day with the hustle and bustle as a wide array of goods – cookies, pies, cakes, pastries, bagels, scones, bread and cupcakes – are made on premises out back by Paul and his brother, and on weekends the Klemm’s son, Paul, Jr. lends a hand.

In the store, the staff rush in and out to fill and take customer orders, from workers picking up a dozen maple glazed donuts for their colleagues to families coming in for a birthday cake or to purchase creatively-decorated cookies.

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CJ Jones, the manager of the Belmont Car Wash on Trapelo Road – another longtime Belmont family-run business – who returns like clock work daily to bring pastries to his operation.

“I come into Ohlin’s because they’re the best,” he said, coming away with two dozen assorted donuts, muffins, and cookies.

“I give them away to my customers for free because [the donuts are] so good. They come back to get their car washed because of the donuts!” he said.

The tightly-packed shop doesn’t have a place to sit and fire up your laptop for an hour of leisurely browsing. You serve your own coffee, get in line with the regulars and newcomers and pause to be called on.

And the wait is well worth it. The Boston Globe and Herald, The Harvard Crimson, CBS Boston, local publications and regional magazines such as Boston Magazine and the Improper Bostonian have all rave about of the family-run shop’s pastry selection.

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Yet it’s Ohlin’s donuts that have won the highest praise as coming close to fried dough perfection. Whether ring or filled, the multitude of varieties – dipped, glazed, jellied – are the pinnacle of the art form, the DiVinci of donuts.

Having named the shop’s donuts “Boston’s Best” numerous years, the Globe this year pointed out Ohlin’s maple glaze as “one of the most aesthetically pleasing treats we encounter, overflowing with topping and beautifully drizzled with chocolate.”

Customers have made their views known writing in online review sites, such as Yelp and Trip Advisor. As one experienced reviewer noted: “This is a bakery that makes great donuts. And I’m going to repeat that: Great Donuts. The best I’ve ever had in Boston. Very likely the best I’ve ever had anywhere.”

There’s no magic to Ohlin’s success and longevity; just the dedication of a pair of families over the past century creating a landmark destination for confectionary sweat treats.

The shops history goes back to 1915 when the Ohlin family settled into Belmont and rented a spot in the then bustling Cushing Square which was in the midst of a housing explosion as estates were divided up into subdivisions.

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Ohlin’s joined dozens of other small bakeries that populated nearly every square and main street in communities in and around New England before the day of large-scale bakeries and supermarkets.

In 1967, the Ohlin’s sold the store to Robert Klemm, the son of a dynasty within the Boston-area baking circles. The Klemm family started or bought dozens of small bakeries in Boston and its nearby suburbs including its first, Lyndell’s Bakery, which opened in Somerville in 1887 and still in operation.

Through perseverance, a solid produce line and a multigenerational cliental, the Klemm’s have staked their claim in a town where franchises – a third Dunkin’ Donut in Belmont is expected to open next year on Pleasant Street along with a Starbucks located across Trapelo Road – and other independent stores (Linda’s Donuts is just a few blocks down Belmont Street) compete for the loyalty of residents and those who work in Belmont.

Today, the tradition continues every predawn morning as Paul arrives between 1 a.m. and 2 a.m. to begin another day. By the early daylight hours, racks of donuts and other products are flying out of the ovens in a bakery where the heat is constant and relief is provided by a half-open door.

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Marybeth became involved in the business “the day I said ‘I do’,” marrying into the bakery in 1984.

“Next thing I knew, I was getting up at 3 a.m,” she said, who started working at Ohlin’s as a 16-year old in an after-school job, meeting Paul who was working for his father.

It truly is a family business. Daughter Emily remembers her first “job” was folding boxes as a five-year-old in the corner of the store during the holidays, having graduated today to decorating birthday cakes and manning the store’s social media operation.

Despite its reputation for producing outstanding pastries, Ohlin’s is a small local business that depends not just on the big ticket items such as birthday cakes but also the single donut purchase to stay financially viable.

“We really rely on our local customers; we depend on them. But because we have a great reputation with our donuts, every day we get people who say it’s their first time here. Word of mouth is really important for our business to succeed,” said Marybeth.

“We are so thankful that they come to small businesses because we do work hard. My husband’s here seven days a week, getting up at midnight or 1 a.m. on weekends and 2 a.m. on weekdays. He doesn’t miss a day,” she said.

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The Klemm children – which includes oldest daughter, Joanne Klemm Mann, who gave birth to their first grandchild, Christopher Joseph (CJ for short) on April 1 – also take time away from their own work; son Paul Jr. is an accountant and youngest daughter Emily is a recent graduate from UMass- Lowell working in public health with a view towards becoming a nurse.

“Right now, we do have them to help out,” said Marybeth.

If there is a dark cloud over the store, it’s what impacts many family-run business; who all continue the legacy. Paul said his children are leading their lives and will likely move on, leaving him and his brother running the bakery.

In fact, Paul has found it difficult to find someone who is willing to come aboard as a full-time baker, help that is sorely needed.

“It would be sad if we couldn’t find someone to continue what the Ohlin and Klemm families have created,” said Marybeth.

“But, hey, we just had a grandson. You never know,” she said, with a laugh.

Sometime in the early fall, the store will hold its 100th birthday – the actual day the business opened has been lost to history – “and I think we should have a ‘100’ cake to give out to everyone in town because so many are our customers,” said Marybeth.

Until then, customers can come by the store on the 4th of July, this Saturday, to pick from a selection of red, white and blue pastries for the evening’s barbecue or to help begin the Independent Day celebrations.

“Yes, we will be open and have lots of patriotic goodies!” said Marybeth.

Cheese, Olive Oil, and Now Beer and Wine at Art’s Specialities

Photo: Art’s Specialities on Trapelo Road.

In the past year-and-a-half, those seeking a beer and wine license could expect coming before the Board of Selectmen multiple times, spending a great deal of time discussing business plans and legal matters.

So it was something of a nice surprise when the owners of Art’s Specialities, the food market on Trapelo Road whose focus is cheese and olive oil, spent just under 10 minutes before the Selectmen before walking out with the coveted license.

In fact, the entire process was fairly painless. 

“We are elated,” said co-owner Jen Bonislawski, who is married to her business partner, Artur Nergaryan. “It could not have gone better than it did.” 

The Watertown couple’s store, at 369 Trapelo Rd. near the corner of Beech Street, appeared to be the prototype of what the selectmen were looking for in an applicant for the limited number of beer and wine licenses the town has to dole out.

With its open and bright retail space, the store sells a variety of specialty foods reflecting an upscale market, which its shelves filled with a wide array of cheeses, olive oils, balsamic vinegars, herbs, meats as well as loose seeds, tea and nuts. The operation also won over the board by informing them they do not, nor will sell, lottery tickets or tobacco products.  

Once the couple presented their plan to use the license to complement its food operation using less than a fifth of its space to sell selected wines and craft beer as well as overwhelming neighborhood support, the selectmen saw little reason not to issue the license.

“I’m so happy,” said Nergaryan after their presentation. “We got so much support from our customers. They took time from their work and they said such good things about our store.” 

Trapelo Road Cheese Shop Seeking Beer/Wine License

Photo: Co-owners Jen Bonislawski and Artur Nergaryan of Art’s Specialities on Trapelo Road.

Artur Nergaryan said his customers – from first-timers to his regulars – keep asking him the same question.

“People will go around and pick up a salami, some cheese and bread and then ask, ‘Where’s your wine?'” said Nergaryan, the co-owner with his wife, Jen Bonislawski, of Art’s Specialities at 369 Trapelo Rd.

That consumer demand has prompted the couple come before the Belmont Board of Selectmen on Monday, June 22, seeking a license to sell beer and wine from their new speciality food store, located across the street from the Studio Cinema near the corner of Beech Street.

But the application does not mean the couple is seeking to change the tenor of the store’s character or focus.

“[Beer and wine] is not our main business; it will be complementary to what we are already selling,” said Bonislawski. The couple hopes to carve out a small section of the store near the checkout counter to sell a select number of moderately-priced wines and popular craft beers.

“It will provide that extra something that [customers] said they want,” said Nergaryan.

The Watertown couple opened the speciality store three months ago in the former location of Diver’s Jim. The 1,700 sq.-ft. store front sells an large array of regional cheeses, olive oils and balsamic vinegars, herbs, charcuteries (prepare meats including bacon, ham, sausage, pâtés and confit) as well as loose seeds, tea and nuts. It has begun stocking some prepared foods and is the only store in Belmont where you can buy your pickles – five varieties – straight from the barrel.

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But the couple will be coming before a board that has not awarded a retail beer and wine license in years. In the past 18 months, the board has rejected applications by three Trapelo Road stores – each within a few blocks of Art’s – and from Jimmy’s Food Mart at the corner of Belmont and School streets which was denied a license in March. The business has since closed after a fire destroyed the location

The former board that rejected the earlier bids criticized the nature of the businesses – quick-visit variety or convenient stores – which sold lottery tickets and tobacco products, fearing they would quickly evolve into package stores.

But unlike the previous applicants, Bonislawski contends Art’s Specialties – which does not hold a lottery license or sells cigarettes – will remain true to its current business plan.

“Sometimes when a store receives a liquor license, they begin pushing the alcohol. That’s not the case here,” said Bonislawski.

For the working couple – Nergaryan is a bank manager in Belmont and Bonislawski a librarian in Cambridge – Art’s is an opportunity to break into retail trade with what Nergaryan is familiar with (he grew up making cheese after coming to the US from Armenia).

“We love being here, and we’ve received a good reception from other businesses and residents,” she said. “They said how much we’re helping change the neighborhood.”

Selectmen OK Woodfall Road Purchase And Sale, $1.75M Price Tag

Photo: Woodfall Road site.

The Belmont Board of Selectmen approved a purchase and sale agreement for the purchase of town-owned property at the end of Woodfall Road to a Lexington developer for $1,750,000.

Dani Chedid of Lexington’s Phoenix Construction Group will now begin the formal process of purchasing the 5.25 acre parcel adjacent to the Belmont Country Club and in the Hillcrest neighborhood on the west side of Belmont Hill, said Sami Baghdady, chair of the Selectmen at its meeting Thursday, May 28.

Chedid, the lead of a three-person group, outbid Northland Residential of Burlington (which constructed the The Woodlands at Belmont Hill) by nearly $1.5 million in December 2013 to begin working with the town on a final price tag for the property that will be home to four luxury single-family homes. 

Seventeen months ago, Chedid offered $2.2 million of the site. Since then, the town – through Town Administrator David Kale’s office – and contractor have been negotiating a final price for the land after a long due diligence process that included environmental assessments, soil testing, monitoring wetland requirements and, at one point, discussions with the country club on the likelihood of golf balls flying onto the new homes, said Baghdady.

“Woodfall Road is a different site since the request for proposal,” said Baghdady, referring to the nearly half-a-million dollar reduction in the original offer. 

“Yet even now, it’s a much better award than the $750,000 [Northland] offered,” he said.

The P&S now requires the town to present a “clean” title and for a state environmental test to be conducted. In addition, Chedid will go before the Belmont Conservation Commission to request a “side” order to allow some relief to build on one of the four lots due to wetland concerns.

A final purchase of the land, which has been on the market for more than a decade, should occur in the next two to three months, said Baghdady.

With the Giant a Block Away, New Pharmacy Sets Focus on Service, Free Delivery

Photo: Pharmacist Richard Simon at Belmont Pharmacy. 

When Jack wished to see the Giant, he had to climb a magic bean stalk that reached far into the sky.

All Robert Pavlan needs to do to find his “giant” is stick his head out the door of the newly-opened Belmont Pharmacy, look to the left and there is a 95,800 sq.-ft. CVS/pharmacy staring right back at him. 

But the life-long independent pharmacist, who came back to Belmont from living and working in California, there is no reason to believe that the town can’t accommodate another drug store. 

The storefront opened on Wednesday, May 20. The store is open 8 a.m. to 8 p.m., seven days a week.

“It will take this a couple of months to get this going,” said Richard Simon, a pharmacist who will run the business side of the new store located at 246 Trapelo Rd.

“We’re getting a feel for the neighborhood and getting good feedback,” said Simon, who has been a pharmacist for more than 20 years, opening up the pharmacy services at Boston’s Children’s Hospital and working at an independent pharmacy in Brookline in the late 1990s. 

With a third pharmacist in the fold, there is more than 70 years of experience in the store. 

A past resident, Pavlan wanted an opportunity to come back to “the neighborhood,” and took up that opportunity when he saw the storefront location open up on busy Trapelo Road.

“The space was available and, yes, he saw how close he’d be to another pharmacy,” said Simon.

But what a competitor; CVS is second only to Walgreens as the largest pharmacy chain in the US with more than 7,600 stores. It sells in a few minutes what Belmont Pharmacy could hope to provide in a year.

What they may lack in bulk, the new store will make up in service, said Simon.

“We’re going to be offering a lot to the community,” Simon said, such as blood pressure that customers can show their physician, blister packing for older customers, and patient profiles in which patient drug information is printed out in a wallet-sized card “because a lot of people are unaware just what their medications are and can be used if they are hospitalized.”

“And we will have free delivery in Belmont and Watertown, and that will expand when we expand,” said Simon.

What Belmont Pharmacy will not do is follow the national pharmacy model of becoming “a convenience store.” Inside the store is a few rows of over-the-counter medicines, cold relief and remedies for minor injuries.

“We’re not selling frozen pizza, bottled water, summer beach chairs; that’s not who we are,” said Simon. 

“We’re your pharmacist and we will look after you and your family.”

Simon said the store will be very competitive in pricing prescriptions with CVS.

“They get their drugs by the ton and we don’t. But their prices are set and we have the flexibility to set ours on need and demand,” he said.

The business has begun to canvas local doctors, the area hospitals including McLean and the town’s Board of Health and Council of Aging.

“There’s going to be outreach, but there has been a nice amount of groundswell of people coming in and saying, ‘We’re glad you’re here’,” said Simon.