The cannabis retailer that planned to open on Pleasant Street has transferred its license to another retailer, according to Town Administrator Patrice Garvin.
Mint Cannabis, LLC, which had signed two different host community agreements with Belmont, sold its license to a group called Clover Partners, LLC, for $1 million, a transaction allowed under state statute, Garvin said.
“I was also told that this seemed to be on the low side of other transfers happening in this industry,” she said. “The Cannabis Control [Commission] gets multiple transfers.”
The board recently voted to require the new retailer to negotiate a new community host agreement.
“I think it’s also good to have a chat with new business owners in the community and make sure it works well for everybody,” said Select Board Chair Matt Taylor.
Select Board member Carol Berberian agreed.
“I agree, especially where the last owners weren’t able to actually open,” said Berberian. “It’ll be interesting to see what the intentions are.”
According to Garvin, Mint Cannabis decided to pull out of the location because of the cost of rent.
“There’s a limited amount of area in town that is zoned to allow recreational cannabis sales. It’s basically along Pleasant Street,” Taylor said. “There are two places that have the current permits – one is open, and this one has never opened.”
Mint Cannabis received its original special permit in October 2021. An amended special permit was granted in December 2022, followed by a building permit and eventually a certificate of occupancy, which was issued in April 2024, according to Town Planner Christopher Ryan.
Cal Verde, located at 1010 Pleasant St.—a few doors down from Mint Cannabis—opened in June 2023.
