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New owners of Edmonson Village Shopping Center excited on future

New owners of Edmonson Village Shopping Center excited on future
>> JOINING US NOW WITH MORE ON IT IS OUR GUEST. GOOD MORNING. ALL THE WAY FROM CHICAGO. YOU HAVE A VISION FOR BALTIMORE? >> FOR 30 YEARS, I HAVE WORKED IN COMMUNITIES OF COLOR ON THE COMMERCIAL CORRIDOR. COMMERCIAL PROPERTIES OF THE FIRST IMPRESSION OF A NEIGHBORHOOD. IF IT IS BLIGHTED, ED ATTRACTS CRIME AND BRINGS DOWN PROPERTY VALUES, SO OUR MISSION IS TO GET CAPITAL AND RESOURCES FOR GOOD RETAIL DEVELOPMENT AND NEIGHBORHOODS OF COLOR. >> YOU ALREADY HAVE $200,000 FROM LOCAL INVESTORS SO FAR. WHAT DID THEY BELIEVE IN? >> PROUD HISTORY. BRIGHT FUTURE. THAT IS WHAT PEOPLE BELIEVE IN. PEOPLE KNOW THIS SHOPPING CENTER WAS DEVELOPED WITH GREAT FANFARE . THERE WAS A DEPARTMENT STORE ACROSS THE STREET, HOLIDAY LIGHTS. A MOVIE THEATER, PETS IN THE WINDOW. WHAT PEOPLE ARE INVESTING IS THEY HAVE SEEN THE DECLINE OVER TIME. THEY BELIEVE THAT SOMETHING BETTER CAN HAPPEN. OUR MODEL IS TO INVITE SMALL BLACK IMPACT INVESTORS, LOCAL INVESTORS ACROSS BALTIMORE, ACROSS MARYLAND TO HAVE AN OWNERSHIP STAKE, SO WE TALK ABOUT THIS, PEOPLE BEING OWNERS, AND THAT IS THE SECRET SAUCE, YOU HAVE PEOPLE WHO HAVE A LITTLE STAKE, THEY WILL RESPECT THE SHOPPING CENTER. >> WHEN YOU HAVE PEOPLE BITE INTO IT, IT IS PART OF THEIR COMMUNITY. IT IS A BIG DIFFERENCE FROM WHEN A DEVELOPER COMES IN AND SAYS THIS IS WHAT YOU WILL HAVE. >> WE TALK ABOUT IT AS A COMMUNITY INVESTMENT VEHICLE. WE REALLY DON’T NEED THE MONEY. THE GOAL IS TO GET LOCAL OWNERSHIP, RIGHT? THAT IS THE STRATEGY. PEOPLE WILL SAY, I OWN THAT. I DON’T EVEN MEAN THE 70 OR 100 INVESTORS WHO INVEST IN THE BUT I WENT TO SCHOOL THERE. THAT IS MY GRANDMOTHER, MY UNCLE. SO OUR GOAL IS TO HAVE THE PRIDE OF OWNERSHIP IN THE BELIEF, AND THE FINANCIAL BENEFITS. THIS IS NOT A PHILANTHROPIC. WE ARE INVESTING OUR MONEY AND BELIEF WE WILL MAKE A RETURN. ALL THE DETAILS ARE ON THE CROWDFUNDING PLATFORM, BUT YOU CAN MAKE A RETURN AND STRENGTHEN A NEIGHBORHOOD AND HAVE PRIDE OF OWNERSHIP AT THE SAME TIME. >> IS THERE AN OPPORTUNITY BECAUSE JOBS ARE IMPORTANT IN BALTIMORE BUT PEOPLE SAY IT LOOKS NICE, CAN I EARN SOME MONEY AS WELL? IS THERE A CHANCE FOR PEOPLE TO WORK HERE? >> ABSOLUTELY. WE HAVE DONE THIS FOUR TIMES. WE HAVE EXPERIENCE. WE ARE NOT NEW TO THIS, WE ARE TRUE TO THIS. WE HAVE DEMONSTRATED THAT WE HAVE HIRED PEOPLE OF COLOR WHO ARE PROPERTY MANAGERS, AGENTS, BROKERS, ROOFERS, ARCHITECTS. WE HAVE BEEN INTENTIONAL ABOUT CREATING OPPORTUNITIES FOR LOCAL SMALL BUSINESSES TO OPEN STORES, IN ADDITION TO ATTRACTING NATIONAL RETAILERS AS WELL, SO WE HAVE A TRACK RECORD OF DOING EXEC THAT.
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New owners of Edmonson Village Shopping Center excited on future
The Edmondson Village Shopping Center in west Baltimore is about to get a new lease on life and community members could get a piece of the pie. Chicago Trend, a real estate investment company, is poised to purchase the property within the next two months. WBAL-TV show us the new crowdfunding campaign that will offer an opportunity for black entrepreneurs, community residents, and impact investors to redevelop, reimagine, and reposition the shopping center.

The Edmondson Village Shopping Center in west Baltimore is about to get a new lease on life and community members could get a piece of the pie. Chicago Trend, a real estate investment company, is poised to purchase the property within the next two months. WBAL-TV show us the new crowdfunding campaign that will offer an opportunity for black entrepreneurs, community residents, and impact investors to redevelop, reimagine, and reposition the shopping center.

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