Purchase of Edmondson Village Shopping Center finalized
BALTIMORE -- The Edmondson Village Shopping Center is one big step closer to receiving a major facelift.
The purchase of the West Baltimore shopping center was finalized this week after months of negotiations.
Developer Lyneir Richardson, the CEO of the Chicago TREND Corporation, has said previously said the vision includes plans for a new grocery store, new shops, dine-in restaurants and safety features such as new lights, security cameras and 24/7 security.
Renderings for the shopping center can be viewed here.
TREND says its mission is to build Black wealth through community-owned shopping centers. The developer made the purchase in part through a crowdfunding campaign with 200 local, small-impact investors.
The developer said over 40 percent of the investors are from the city, and over 70 percent are from Maryland, with an average investment size of $2,200.
Baltimore City committed nearly $8 million to the project.
"Opening this door to the next era of the historic Edmondson Village Shopping Center's future was a community effort through and through," Scott said in a statement. "I am so grateful that Lyneir and the TREND team have led this effort by including the community's voices, needs, and input every step of the way."
Built in the 1940s, the Edmondson Village Shopping Center was once a jewel in the community, but then came decades of decline.
There were two major fires in 2019 and then in 2021.
There's also issue of violence. Five teens were shot at the shopping center in January, and one died.
"We want to restore the sense of pride many Edmondson Village residents once felt about the shopping center," Lyneir, the developer, said in a statement. "People who come to shop at Edmondson Village will now know that local folks are now co-owners of the shopping center, and together, we all have a responsibility to patronize, protect and respect our community asset."
Chicago TREND said it anticipates the redevelopment will bring 900 construction jobs and 250 retail jobs to the community.
