Black Mountain Holdings LLC Acquires 7-Sigma Building
The acquisition is part of the LISC Community Asset Transition (CAT) Fund. The CAT Fund was designed in partnership with Hennepin County, JPMorgan Chase, the Minneapolis Foundation, the Bush Foundation, and the McKnight Foundation to rebuild after the civil unrest in response to the murder of George Floyd in May 2020. This acquisition also included funding from Fortis Capital.
Minneapolis, MN, April 18th, 2022. Lachelle Cunningham (Healthy Roots Institute LLC), Chris Montana (Du Nord Social Spirits & Du Nord Foundation) and Redesign (Seward Redesign, Inc) formed Black Mountain Holdings LLC and have acquired the property at 2843 26th Avenue South, Minneapolis, MN from Kristop Properties.
The acquisition of the property fits into their strategy to redevelop the facility into a space that will provide the people that live in the South Minneapolis community with employment opportunities, resources, creative and community space through food and beverage business incubation.
“This acquisition is one of many steps toward creating synergistic collaborations that are designed to have a deeply profound impact on the local food system and business economy in Minneapolis.”
WHO
Lachelle Cunningham (Healthy Roots Institute LLC), Chris Montana (Du Nord Social Spirits & Du Nord Foundation) and Redesign (Seward Redesign, Inc) formed Black Mountain Holdings LLC
WHERE
WHEN
The official announcement was made on Monday, April 18, 2022. The move to acquire the facility first started in Fall 2020 The seller will remain a tenant for 12 months and construction will not start until summer 2023 at the earliest.
WHY
Acquisition to provide local BIPOC businesses with the opportunity to purposefully invest in the South Minneapolis community through the catalytic redevelopment of the 7-Sigma manufacturing facility.
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