Cordova Bay residents are getting their grocery store back.

The Victoria partners of the Tru Value Foods chain confirmed Wednesday they have secured a lease for the 7,400-square-foot store at Cordova Bay Plaza and will likely open in early April.

Phil Greenhalgh said financing is being secured for improvements at the site, including a full-service deli and butcher department.

He and partner Gerry Rainer, as well as Brett Clarke, who will take an ownership stake in the Cordova Bay store, take possession on Feb. 1. All three got their start in the Thrifty Foods chain.

The store, formerly a Food Forum store, was shut earlier this month with owner Vincent Ng citing rising costs, an expiring lease and the loss of market share to big box retailers.

Greenhalgh, however, said small, independent neighbourhood groceries have their place and can be very successful. He notes Cordova Bay has a growing population with new subdivisions and little retail.

"We know it can work," Greenhalgh said. "If we learned anything at Thrifty Foods, it's that people are very loyal to their communities and they shop local if they are given good products and services. Sure, everyone may take a run to Costco or Walmart once a month, but they will support the small guys if you do it right and give them what they need."

The Tru Value partners currently operate four stores — two on Quadra Island and others on Pender and Mayne islands. They operate a warehouse and shipping facility in the Keating industrial area, but may look at expanding the Cordova Bay site down the road, Greenhalgh said.

The Cordova Bay store marks a quick return for Tru Value to the capital region. It was set to mark its 20th anniversary last fall in Brentwood Bay, but the landlord instead signed a long-term lease with rival Fairway Market in August. The loss of the store came just a month after the sudden death of Wayne Verch, another Thrifty Foods alumnus who founded the Brentwood store with Rainer in 1991.

"We feel like we're back, like a phoenix rising up from the ashes," Greenhalgh said. "It was tough to lose Wayne and the store, but we're very happy about this.

"I think we have to show people we're willing to spend some money to clean the place up and bring in a real neighbourhood grocery. There's lots of people and now they need a nice grocery store."

dkloster@timescolonist.com