Chicago TREND Corp: Investing in Real Estate for Racial Equity

Chicago TREND Corp, led by Lyneir Richardson, is transforming how communities of color invest in commercial real estate. They facilitate the ownership of shopping centers within underserved urban neighborhoods, enabling residents to build wealth while contributing to neighborhood revitalization.

• Richardson's innovative approach involves providing residents with the opportunity to buy equity in shopping centers located in their neighborhoods, empowering them to become stakeholders in their community's economic development.
• The model fosters a sense of ownership and community pride, promoting local patronage and improving the quality of life in the neighborhoods.
• This unique approach addresses the disparities in wealth creation and investment opportunities often experienced by communities of color.

The TREND Fund: Expanding Real Estate Investment Opportunities

The TREND Fund, launched by Chicago TREND, aims to raise $50 million to acquire 12 additional shopping centers, with the goal of building a portfolio of strategically located commercial real estate assets.

• The fund is designed to attract small investors, with investment amounts ranging from $1,000 to $2,000, making real estate investment more accessible to individuals who may not have traditionally participated in such opportunities.
• The fund aims to empower communities of color to participate in the ownership and benefits of commercial real estate, fostering economic empowerment and social change.
• This initiative is driven by the recognition of the crucial role that community investment plays in addressing racial disparities and fostering sustainable economic growth.

Community Investment in Shopping Centers: A Model for Revitalization

Chicago TREND focuses on investing in shopping centers that provide essential services and goods to local communities. These strategically selected properties are strategically chosen to revitalize neighborhoods and improve the lives of residents.

• Chicago TREND's model prioritizes shopping centers over larger malls, as they offer a more direct and frequent interaction with community members, creating a stronger sense of belonging and neighborhood pride.
• By investing in these vital community spaces, Chicago TREND aims to create a more equitable and thriving environment for residents.
• The company's approach emphasizes the importance of long-term investment, with a commitment to own properties for 7 to 10 years, ensuring sustainable development and community growth.

The Challenges of Building an Impact Investment Fund

Richardson faced challenges in raising capital for the TREND Fund, encountering a decline in investor enthusiasm for racial equity investments despite the pledges made following the racial justice movement in 2020.

• The timing of the fund's launch presented a significant challenge, as the initial momentum surrounding racial equity investments had waned by the time the fund was ready for investment.
• To overcome these challenges, Richardson is actively seeking impact investors who are aligned with the mission of creating social impact and generating a return on their investment.
• Chicago TREND is actively pursuing investors who recognize the unique opportunity to address racial disparities through real estate investment, contributing to a more just and equitable society.

Chicago TREND's Vision for a More Equitable Future

Chicago TREND's vision extends beyond the acquisition of shopping centers. They aim to create a model for community ownership and investment that can be replicated across the country, empowering communities of color to build wealth and create a more equitable future.

• The company's focus on densely populated communities, where at least 50% of residents are Black, reflects their commitment to investing in underserved neighborhoods and addressing racial inequities.
• Their dedication to improving the properties they acquire through capital improvements ensures that these shopping centers become assets that benefit the entire community.
• Through their innovative approach, Chicago TREND is paving the way for a more equitable and prosperous future, empowering communities to own and benefit from the economic growth of their neighborhoods.

Key Elements of Chicago TREND's Success

Chicago TREND's approach is characterized by its commitment to community empowerment, strategic investment choices, and a focus on long-term impact.

• Their investment strategy prioritizes shopping centers that offer essential services and goods to the local community, ensuring that these assets contribute to the daily lives of residents.
• They actively seek to engage community members in the ownership and management of these properties, empowering residents to become stakeholders in their community's economic development.
• Their commitment to long-term ownership and improvement ensures that these properties become valuable assets that benefit the community for generations to come.