On February 10, Buffalo Street Books owner Gary Weissbrot made a tough announcement: Due to financial difficulties, Ithaca’s last standing independent bookstore for new books would be liquidating its stock.

But instead of deciding to close the store for good, Weissbrot and his staff took an intriguing angle to help alleviate the store’s financial woes. Buffalo Street Books outreach coordinator Bob Proehl went to the people of Ithaca with a proposal and a plea to turn the store into a community-owned cooperative. The results were stunning.

The community buyout plan was so successful that it quickly generated nearly $250,000—which was more than $50,000 over Proehl’s fundraising goal.

In a note on Buffalo Street Books’ online message board, Weissbrot expressed his delight at the outpouring of support:

In the very recent past I stated that I was closing [the store] because the market had spoken. It is now clear that Ithaca has spoken louder.

In April, Buffalo Street will be born again­, this time as a co-op with some five hundred member-owners. Proehl couldn’t be more pleased by how things turned out and what the campaign’s success means for the future of both the book industry and the Ithaca community:

Not only are people excited that the store is going to survive, they’re excited about the way in which it’s going to survive and that they’re going to be a part of keeping it alive.