Black Wallstreet GR vision takes shape

Black Wallstreet GR vision takes shape
<strong> Rendering courtesy Pure Architects </strong>

The first set of renderings from the Black Wallstreet Grand Rapids Flagship District have been released.

Black Wallstreet Grand Rapids (BWSGR) co-founder and President Preston Sain shared the renderings for the $15 million project exclusively with GRBJ Thursday night. The 35,000-square-foot Eastern & Burton Village District building will be the first of a slew of projects for BWSGR.

“Black Wallstreet Development is a breath of fresh air, on top of great relationships, it’s a solution, a project and a vision,” Sain told GRBJ. “It’s an alternative to gentrification, because if we don’t come up with an agenda, someone else will.”

The project includes 11,000 square feet of commercial space and 34 apartment units.

Demolition could be finished by the beginning of 2023, and Sain hopes construction will begin in early spring 2023 with construction completed by late fall 2023. The new building will be a live-work mixed-use development. Businesses in the development could include a coffee shop/brewery, hair store, beauty salon, ice cream shop, small restaurants, fitness studio, flower shop, book store and event center.

There will be equity opportunities for everyone in Grand Rapids, Sain said.

BWSGR is a collaboration between Sain, co-founder Mary Malone and 10 entrepreneurs from Grand Rapids’ Third Ward in the southeast part of the city. Initially, Malone was looking for a partner to help develop the Eastern & Burton property she owns and sits 90% vacant.

BWSGR aims to develop eight business districts in the Third Ward with a 16-year, $100 million capital campaign. The other seven business districts are located:

  • Oakdale Street SE
  • Madison Square
  • Madison Avenue and Hall Street
  • Neland Avenue and Martin Luther King Jr. Street
  • Eastern Avenue and Martin Luther King Jr. Street
  • Boston Square
  • Grandville Avenue (in the First Ward)

The locations are historically Black areas of Grand Rapids; however, Sain hopes the entire city will benefit from the developments.

Sain said the organization is targeting 100 companies to pledge $1 million each for the next 16 years. Its first pledge came in August 2022 from ChoiceOne Bank.

BWSGR’s fiduciary partner, AQUME Foundation, will host its inaugural Gold Gala Fundraiser to build its endowment for the 2023 grant making season Nov. 3 at 1530 Madison Ave. SE.

The organization also has a $6 million proposal in for Kent County American Rescue Plan funding from the federal government.

Sain hopes the BWSGR developments can help change the overall narrative that Grand Rapids is a bad place for Black businesses. That perception came first with a 2015 Forbes article that named the city as the second worst city economically for the Black population. Then, last year, Grand Rapids city officials declared racism a public health crisis.

Rather than intentional racism, Sain said he believes much of the disadvantages come from various communities being tied up in their everyday lives and not looking beyond their immediate families, businesses and neighborhoods.

“We have to see ourselves as one team, one family, and that will get us to the championship,” Sain said. “If we can reverse that narrative and change the trajectory so our brand value shines on the national stage, we can be a world-class city and a national model. People can say we have minor league sports, great nonprofits, a thriving business community and beautiful neighborhoods. We should be the model for the country as a city.”

The other BWSGR founders are:

  • Tahj Gillespie, owner of Generation Wealthy Unity & Faith
  • Sian Gillespie, manager of business operations for Gillespie Memorial Chapel
  • Dalshawn Tyler, owner of Elegance Shipping and Elegance Auto Detailing
  • Michael Buxton, franchise owner of Load-A-Spud Potato Bar
  • Abdus Muhammad, a Nation of Islam minister of religion with the prison rehabilitation outreach Second Step Ministry of North America
  • Victor Williams, CEO of Grand Stand Pictures
  • Rodney Brown, administrator at Grand Rapids Public Schools
  • Synia Gant-Jordan, owner of Samaria J’s Salon Suite at 701 Grandville/Cesar E. Chavez Ave. SW