Chicago Trend seeks $1,000 investments from north Minneapolis residents for mall ownership

Chicago Trend, a social-enterprise real-estate firm founded by Lyneir Richardson, is preparing to buy the Hawthorn Crossings strip mall on West Broadway and is inviting north Minneapolis residents to fund 49% of the acquisition with $1,000 minimum contributions. The company will keep the remaining 51% and lease the center for a projected ten-year hold, targeting a tripling of investment value by 2036. Backed by a 2023 grant from the McKnight Foundation, the project was championed by Warren McLean of the Northside Economic Opportunity Network, who sees the mall as a catalyst for neighborhood transformation.

Community advocates like Rev. Alfred Babington-Johnson have promoted the plan, whereas critics such as Kristel Porter of the West Broadway Business and Area Coalition warn that the purchase is not yet closed and investors could lose their money. Chicago Trend aims to finalize the transaction by Aug. 31 and hopes local ownership will mitigate gentrification pressures while delivering financial returns.