GROCERY STORE FINALLY SET TO COME BACK DOWNTOWN AFTER 6 YEAR HIATUS

This will be the first time a grocery store has been downtown since 2018

Madison, Indiana (June 6, 2023) – Madison’s Mayor Bob Courtney announced today that the Madison Redevelopment Commission (RDC) has signed a Purchase Agreement with a memorandum of understanding with Rafferty Development, LLC, to renovate and construct a DG Market (Dollar General Market) on the property at 120 East Second Street, locally known as the Ruler building.

In the spring of 2021, the City of Madison RDC purchased the property to maintain site control and to invest in the fabric of our city’s historic district. Over the past several years, the city has worked tirelessly to bring a neighborhood market to the former Ruler Grocery Store building, which closed its doors in March 2018.

“Our top economic development priority for downtown Madison is one major step closer today with the partnership with Rafferty Development, LLC. This entire Mulberry Street corridor is important to the city and is seeing tremendous growth and investment. The partnership with Rafferty Development, LLC, will bring vast retail development experience to the table. While there are still important steps to pursue with regard to the formal disposition process and approval by Dollar General to locate a DG Market here, we will do our best to see this to fruition and are grateful for Rafferty’s investment in our community,” said Madison’s Mayor Bob Courtney.

Rafferty Development, LLC will purchase the property for $525,000 and will be responsible for the exterior based on city renderings as well as incorporating public arts into the project. The city will contribute $350,000 towards the site improvements and will invest in other improvements to the Mulberry Street and Second Street area, which will include lighting, sidewalks and paved roads, and planting of trees and flowers.

DG Market brings access to name-brand goods, fresh produce, meats, dairy products, and perishable foods and has a distribution network of over 17,000 locations. Rafferty Development, LLC has developed over 150 Dollar Generals and a dozen DG Markets.