Friday, March 1, 2024 |

Edmondson Village shopping center to sell for $17M as new owner looks to crowdfund its future

February 15, 2023

Edmondson Village will be sold for $17 million — weeks after a mass shooting there left one teenage student dead and four others injured. But the deal, set to close in April to a Chicago-based investment group, comes with a unique caveat. For as little as $1,000, new owner Chicago TREND is selling stakes in the 76-year-old retail strip to encourage the community to buy into its vision to pump $40 million into the center and reset its image. An online crowdfunding drive recently opened at the real estate crowdfunding site with a goal of raising up to $1 million for Edmondson Village’s fresh start. Investors will be able to share in equity and investment in the center. As of Tuesday, $18,500 had been raised toward the effort, the website showed.

Article Source: Baltimore Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.