Modern Times generated approximately $1.3 million in sales last year but still lost $18,500, according to a financial statement Alverson shared with the newspaper.
Not all community members have welcomed the experiment. Alverson told the newspaper that some neighbors have voiced concerns that the restaurant could draw criminal activity.
To help address those concerns, Derek Armstrong volunteers as a security presence outside the restaurant, according to The New York Times. Armstrong previously worked as a “violence interrupter” at George Floyd Square and told the outlet that his role often involves de-escalating conflicts peacefully.
For now, Alverson sees the restaurant as an ongoing experiment. He described Post Modern Times as being in “a creation period” as he searches for a model that could potentially work for other independent restaurants facing similar financial pressures, he told The Times.
“What I realized was happening right away is that we’d created a place of economic equality that doesn’t really exist in a business setting,” he told the newspaper. “What can we learn from this?”
PEOPLE has reached out to Alverson for comment.
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