BALTIMORE — A new crowdfunding effort proposes to revitalize the Edmondson Village Shopping Center with the pride of ownership by people of color.
The Edmonson Village Shopping Center was in the spotlight recently after a high school student was killed and four others injured during a shooting at the shopping center in January.
Now, a Chicago-based social enterprise called Chicago Trend has big plans for this long-standing anchor in southwest Baltimore. With a budget set at $41 million, Chicago Trend plans to attract new retailers and restaurants to the shopping center.
Chicago Trend CEO Lyneir Richardson said the plan involves more than just new places to shop and new places to eat.
“Security and safety cameras, patrols, but also youth programming job creation opportunities, mentoring opportunities, role modeling opportunities, it's all of that."
Developers said they've already secured $8 million dollars from the city of Baltimore to make upgrades and capital improvements.
While the state is providing $222,000 to create youth entrepreneurship and violence prevention programs.Developers estimate the project will create about 900 construction jobs and 250 retail jobs.
Chicago Trend is a black-owned commercial real estate investment company, with a mission to foster economic growth and commercial development to strengthen neighborhoods and communities of color.
It's crowdfunding campaign invites black entrepreneurs, community residents, and investors to not only help redevelop the shopping center but own up to 49% of it.
“Our company was formed to strengthen commercial corridors and shopping centers in majority black communities. So, this emboldens us that we got to do it more and we got to do it quicker,” Richardson said.
This isn't the first time Chicago Trend has tried a crowdfunding campaign in Baltimore. It launched a similar crowdfunding effort in 2021 to raise more than $330,000 for improvements at the Walbrook Village Shopping Center in west Baltimore.
Click here for more information on Chicago Trend's Edmonson Village Shopping Center crowdfunding campaign.
