A developer is asking neighbors to buy in and own part of a north Minneapolis mall
Lyneir Richardson is asking nearby residents to invest at least $1,000 in a plan that would make the strip mall 49% community owned.
- Chicago Trend CEO Lyneir Richardson launched a crowdfunding campaign seeking $1,000 investments from North Minneapolis residents to acquire 49% ownership of Hawthorn Crossings strip mall, with the purchase finalized by Aug. 31.
- Richardson, who founded Chicago Trend in 2016, aims to combat gentrification by enabling low- and moderate-income residents to build wealth through commercial property ownership on West Broadway.
- The Minnesota-based McKnight Foundation invested in Richardson's fund in 2023, while Chicago Trend manages six shopping centers with approximately 70% of past investors drawn from local communities.
- Kristel Porter, executive director of the West Broadway Business and Area Coalition, warned that the North Side has served as a 'testing ground' for failed projects, expressing concern that investors may not recover their $1,000.
- With the purchase finalized on Aug. 31, Chicago Trend plans to own the property for at least 10 years, while Rev. Alfred Babington-Johnson, founder and CEO of Stairstep Foundation, backs the mission for community empowerment.
13 Articles
13 Articles
Do you want to be a co-owner of a north Minneapolis shopping center? A developer invites neighbors to participate in the investment Chicago Trend is going to acquire Hawthorn Crossings and is inviting residents of the area to invest $1,000 to become co-owners of the shopping center, a model that has already been used in other cities. By Viktorie Spurná Article published by Sahan Journal Subscribe to newsletter A social company based in Chicago i…
Developer asking neighbors to buy in and own part of mall
A Chicago-based social enterprise is buying the Hawthorn Crossings strip mall in north Minneapolis. The company, Chicago Trend, aims to build local wealth and support community development in a diverse, low-income neighborhood. CEO Lyneir Richardson has led a crowdfunding campaign,…
Associated Press News
A developer is asking neighbors to buy in and own part of a north Minneapolis mall
A Chicago-based social enterprise company is purchasing the Hawthorn Crossings strip mall in north Minneapolis, promising it will build local wealth and support community development in one of the Twin Cities’ lowest-income and most diverse neighborhoods.
Developer wants neighbors to own part of north Minneapolis mall
A Chicago-based social enterprise company is purchasing the Hawthorn Crossings strip mall in north Minneapolis, promising it will build local wealth and support community development in one of the Twin Cities’ lowest-income and most diverse neighborhoods. Lyneir Richardson, co-founder and CEO of Chicago Trend, is undertaking a crowdfunding campaign, asking nearby residents to invest a minimum of $1,000 into the Hawthorn Crossings project. He se…
Coverage Details
Bias Distribution
- 62% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
