Photo: Brooklyn Village\Facebook
With long-awaited Brooklyn Village project (in Charlotte, North Carolina) set to break ground soon, the developers say they plan to include minority-owned businesses in the redevelopment of what was once the city’s largest Black neighborhood.
Why it matters: Black-owned businesses once thrived in Brooklyn. But the neighborhood was torn down in the 1960s and ’70s in the name of urban renewal, displacing around 216 businesses and thousands of residents. Now, developers seek to create a hub in which Black businesses can thrive.
Context: More than six years after Mecklenburg County selected developer BK Partners to redevelop the area, the county said in October that construction will start after the developer closes on the property in early 2023. BK Partners is a partnership between developers The Peebles Corporation, based in New York, and Charlotte-based Conformity Corporation.
Driving the news: In an interview with Axios, Don Peebles, founder, chairman and CEO of The Peebles Corporation, said he is looking at working with minority-owned firms to help fund the cost of building out their retail spaces in the project into their rental agreements. The capital required to upfit a retail space can be a barrier to small businesses.
Read more: https://charlotte.axios.com/314777/can-brooklyns-redevelopment-bring-back-a-once-thriving-black-business-district/