A Chicago-based social enterprise has finalized the purchase of the Hawthorn Crossings strip mall, situated in North Minneapolis. The initiative aims to shift the traditional ownership structure of the commercial property by offering local residents the opportunity to invest in and own a portion of the mall.

This development represents a shift toward community-wealth building, as the developers are actively asking neighbors to buy into the project. By transitioning from a standard commercial landlord-tenant model to a community-owned structure, the enterprise seeks to ensure that the economic benefits generated by the mall remain within the local neighborhood. While the specific financial terms of the buy-in process have not been fully detailed in initial reports, the project is being positioned as a social enterprise effort rather than a traditional private real estate investment.

Proponents of the model suggest that community ownership can help stabilize local businesses and prevent the displacement often associated with commercial redevelopment. However, the success of the project will depend on the level of local participation and the ability of the social enterprise to manage the property effectively while maintaining affordability for small business tenants. The developer has indicated that the goal is to create a sustainable asset that serves the specific needs of the North Minneapolis community, though further details regarding the long-term governance of the mall remain to be seen.