Crowdfunding campaign gives residents chance to co-own North Minneapolis shopping center

An aerial view of Hawthorn Crossings shopping center along West Broadway in North Minneapolis. Chicago TREND has launched a crowdfunding campaign allowing community members to invest in the commercial retail center, with investments starting at $1,000. The campaign is open through July 31. Photo: Uzoma Obasi

For decades, North Minneapolis residents have watched developments come and go, often without having direct input in what is being built in their community. A new investment campaign aims to change that by giving local residents the opportunity to become co-owners of one of the neighborhood's commercial retail centers. 

Commercial real estate developer Chicago TREND launched a local crowdfunding campaign allowing community members to invest in Hawthorn Crossings, a community shopping center located along West Broadway in North Minneapolis. 

“We’ve created an investment structure that allows a diverse group of individuals, with as little as $1,000, to co-own Hawthorn Crossings with us,” said Lyneir Richardson, CEO of Chicago TREND.

“We believe that by including more people in commercial property ownership, we’ll strengthen the Northside community and help to close the racial wealth gap.”

Richardson said company investors can collectively own up to 49% of the shopping center. The $12 million dollar project includes plans to upgrade the site's landscaping and building  conditions while exploring the addition of a new mixed-use building. 

Hawthorn Crossings sits along the West Broadway corridor near several redevelopment projects. It is currently home to several long-term tenants, including Community Medical Services, McDonalds, O’Reilly Auto Parts, US Bank and a family beauty supply business. Photo: Uzoma Obasi

Herbert Thomas was one of the first residents to invest. Thomas has lived on the northside for nearly 30 years after moving from Arkansas. Having watched the neighborhood experience both progress and setbacks over the years, he said investing in Hawthorn Crossings is an opportunity to contribute to the community he calls home.

“When you take pride in something, you're going to do all that you can to make sure that it's successful,” Thomas said. 

Thomas believes that community ownership can help encourage residents to support local businesses while changing how others stereotype North Minneapolis.  

“I want this to be a positive thing, and I want us to show how this can be a positive thing to enhance our community,” he said.

Residents weigh the opportunity

While Thomas has already invested in the project, Thomia Brown is still considering the opportunity. 

Brown, a second-generation homeowner who has lived on the Northside for 35 years, first learned about the investment campaign through a neighbor before later reading about it on North News. Since then, she has encouraged conversations among neighbors about participating.

“I think it's a great idea, but people aren't educated on how to invest, and people don't trust people,” Brown said. 

Brown acknowledged that a $1,000 investment may not be realistic for every household but said families and friends could work together by pooling their money. She also pointed to the matching investment available for qualifying residents living in certain zip codes as another reason for people to consider participating. 

While she believes North Minneapolis has experienced periods of stalled growth, Brown said she remains optimistic that projects like the Hawthorn Crossings will encourage community ownership and help move the neighborhood forward. 

“I think there's hope. With the right people in position,” Brown said. 

The campaign will remain open through July 31.