Grassroots business incubator plans to support Asheville’s Black entrepreneurs

When Dwayne Barton returned to the Barton Street neighborhood of Asheville, North Carolina, in 2001, he found a community reeling from years of devastation. Like many historically black neighborhoods across the country, the Barton Street community was a victim. Highway expansion in the 1950s and 1960s literally tore the area apart. Add to that the crack cocaine epidemic of the ’80s and ’90s, and Barton Street became an area in need of thrifting.

“The urban renewal period from 1950 to 1970 was what really put the hammer down and really shattered this area,” says Burton, who was born in Asheville and raised in Washington, D.C. He took land from his neighbors.in [the] In the 1960s they hit them again and it was really devastating to the neighborhood. ”

For 22 years, Burton has worked to restore Barton Street, the community his family has called home for four generations, to its former glory as a vibrant black neighborhood with an emphasis on community and entrepreneurship. It’s done. His latest project is Blue Note Junction is his biggest effort to date.

Described as a “community health and business incubator,” Blue Note Junction aims to serve the local community and support BIPOC business owners and entrepreneurs. The 1.5-acre space includes a theater, wet market, commercial kitchen, co-working and counseling space, outdoor spa, barber shop, greenhouse and garden, artist village, and more. Hood Tours is a Burton company that offers local black history tours.

“It’s going to be a place that promotes entrepreneurship, but it’s also going to be a place that supports self-care,” Barton said.

The project name comes from Blue Note Casino. Burton said the building, which has served as a grocery store, hair salon, apartments, community center and nightclub, was built by E.W. Pearson in the 1920s. A Buffalo soldier, serial entrepreneur, and civil rights activist, Pearson had such an impact on the Barton Street neighborhood that he was known as the “Black Mayor of West Asheville.”

Blue Note Junction is Asheville’s first community-owned real estate project. When the project was launched, more than 300 local individuals and organizations donated just under $200,000, said Safi Martin, Burton’s wife and business partner. They are also considering crowdfunding.

“People in the community can own a stake in the project and get a return on their investment for as little as $250 or $100, so the community truly owns the project and benefits culturally and socially. Not just the project, but financially as well,” Martin explains.

This isn’t Burton and Martin’s first project together. In 2003, they created the Barton Street Community Peace Garden, now known as the Barton Street Community Peace Garden. Peace Garden & Market. With the help of local volunteers, many of whom are youth from the neighborhood, Burton and Martin run a farm stand where they distribute fresh produce to seniors in the area and pay what they can.

Blue Note Junction’s construction cost is estimated at $4.5 million. They recently received the following support towards their fundraising goal: Opportunity Appalachia is a consortium of eight regional partners coordinated by CDFI Appalachian Community Capital that aims to create new jobs and businesses and bring investments that support sustainable growth to Appalachian communities. Masu.

For Burton and Martin, supporting BIPOC entrepreneurs, a group that faces more challenges than their white counterparts when it comes to running a business, is more than just a topic. It’s built into their business plan. Martin explains that the company’s commercial real estate model keeps rents below market rates, helping business owners with limited access to resources. Currently, rents in Asheville are between $25 and $30 per square foot, Martin said. Blue Note Junction keeps rents under $20 per square foot, excluding commercial kitchens, which can be expensive to build.

“We still see benefits that could provide a 10% or more return on investment for people who want to invest in the project,” Martin said.

We are currently raising funds for the remainder of the project. Martin says they are following a step-by-step development process. They plan to first build an artist village consisting of 20 live workspaces to generate revenue for the project. The goal is to complete Blue Note Junction by the end of 2025.

To help those who want to create something like Blue Note Junction, Burton is self-publishing a book called CAP: the Community Accountability Plan. This book looks at community development from the grassroots level and is designed to encourage policy makers, civic and business leaders to participate in the process.

Burton believes Blue Note Junction can be a “mirror to the world of what you can do with what you have.”

“This is a repeatable model,” he says. “This is the place to create it.”[s] It’s a great product and a model where people can say, ‘Wow, I want to do this in my hometown.’ ”

This story is part of CDFI Futures, a series that explores the community development finance industry through the lens of equity, public policy, and inclusive community development. This series is generously supported by Partners for the Common Good. Sign up for PCG’s CapNexus newsletter at capnexus.org.