Changing Hands Bookstore Seeks Donations to Build Phoenix Location
Since the official announcement earlier this year, central Phoenix has been buzzing about a new Changing Hands Bookstore. The second location would bring the Valley's favorite indie bookseller to more of the masses and breathe new life into the otherwise stagnant area of Camelback Road and Third Avenue.
Courtesy of Venue Projects/Changing Hands Rendering of the Newton, as seen from Camelback Road.
Located in the former Beef Eaters restaurant and slated to open in January, The Newton will also house The Lively Hood, a co-working space, and First Draft Book Bar -- because what pairs better with books than booze?
But construction has run into a snag -- a large snag totaling approximately $80,000. Via a mass message sent to the bookstore's e-mail list Monday morning, Changing Hands co-owner Gayle Shanks detailed the financial issues that arose while trying to open the second store and asked book-loving Phoenicians to donate in order to keep their dream alive.
The 17,227-square-foot multi-use building on 300 West Camelback was allegedly a risk investment for banks, Shanks said in her e-mail.
"Evidently books are not considered collateral," she writes. "Bookstores are risky ventures in the age of e-books, and ... we were hard-pressed to find a bank that would loan us the money we need to get this new venture up and running."
In a deeply personal letter, indicative of how community-oriented, friendly, and forthright the bookstore is, Shanks goes on to explain that even after she and her husband, Bobby, mortgaged their home, they still couldn't come up with the cash.
In an effort to have the project realized, Changing Hands has enlisted the help of friends and Phoenicians to organize a fundraising campaign using the crowd funding website indiegogo.com. Like the more widely known Kickstarter, indiegogo specializes in funding for small businesses in a variety of independent industries.
"Even if you don't live in the neighborhood, you understand the importance of books and community, and we have some wonderful rewards for book lovers everywhere," Shanks writes. "You can tell your friends that you helped build a bookstore!"