Opportunity Main Street
Opportunity Main Street is creating an entrepreneur hub focused on building community wealth in Baltimore, Maryland. Untours Foundation joined several other investors to provide financing for Opportunity Main Street to purchase a historic, mixed-use building in downtown Baltimore. The plan is to convert the upper floors to Airbnb-style, short-term rentals and turn the lower floors into an entrepreneur center for the neighborhood, with retail, event, and training space for local start-up businesses. By converting office space to short-term rentals, then using the proceeds to subsidize resources for local entrepreneurs, this project counteracts the negative impact of gentrification that has plagued many cities due to the rise in housing and rent prices connected to a growth in these types of rentals.
The Opportunity Main Street Origin Story:
Jenny Kassan and Michelle Thimesch (pictured above) came together in 2016, after Regulation Crowdfunding went into effect. They saw this as an opportunity to bring about economic development and community investing. Michelle joined Jenny’s law firm as a senior attorney in 2017. Jenny and Michelle worked together to co-found Crowdfund Mainstreet, an investment crowdfunding platform in 2018. They launched Angels of Main Street, an investing community open to anyone regardless of wealth or income, in 2019. And then in 2020, they launched Opportunity Main Street.
How Opportunity Main Street is Changing the World:
Opportunity Main Street is striving to create welcoming and inclusive physical locations where entrepreneurs, investors, and allies can come together to connect and build trust. They are seeking to invest in real estate projects in underserved communities to support entrepreneurs and connect them with community investors. This is ultimately bringing about change by:
(1) providing a physical location for entrepreneurs to meet potential community investors
(2) educating local entrepreneurs and the investors
(3) creating collaboration opportunities for entrepreneurs
(4) promoting the use of Regulation Crowdfunding as a tool for community economic development
(5) channeling investment funds, along with the profits from the rental spaces, directly to local and underrepresented entrepreneurs
(6) cultivating a sense of pride and accomplishment among the community
How you can Connect or Invest with Opportunity Main Street:
For more information, you can visit their website or directly email Jenny Kassan, co-founder. They are currently offering preferred equity with an estimated IRR of 13% and secured debt with 7% interest (open to accredited investors only).
