January 25th 2024.
The city of Pittsburgh is celebrating a major milestone in the efforts to support Black entrepreneurs and professionals. According to a report by AfroTech, The Greenwood Plan, a nonprofit organization inspired by the legacy of Tulsa's "Black Wall Street," has successfully acquired the historic Pitt Building in downtown Pittsburgh for $4 million. This acquisition, which was finalized on December 21, 2023, is a significant step towards revitalizing economic opportunities for the Black community in the city.
Khamil Bailey, the executive director of The Greenwood Plan, has big plans for the Pitt Building. In an interview with The New Pittsburgh Courier, Bailey shared his vision of turning the building into a bustling hub for Black businesses, creatives, and gig workers. "We want this to be a Black business incubator," he stated, emphasizing the organization's goal of providing a supportive environment for Black entrepreneurs who may struggle to secure favorable terms for operating in downtown storefronts.
Central to The Greenwood Plan's strategy is offering programming and rent subsidies to make it easier for Black businesses to establish themselves in downtown Pittsburgh. As Bailey explained, creating favorable conditions for businesses is crucial in allowing them to benefit from the high foot traffic in the area. The organization's focus is also on attracting Black chefs and restaurateurs who are passionate about delivering high-quality dining experiences. "We want a Black, four-star dining experience to be a part of this building," Bailey shared, aligning this goal with their broader mission of creating a diverse and vibrant ecosystem within the Pitt Building.
The Greenwood Plan had previously launched Emerald City, a 12,000-square-foot coworking and social space on the second floor of the building in 2021. Now, with the recent acquisition, the organization is expanding its mission to connect partners, resources, and initiatives to Black entrepreneurs, professionals, gig workers, and creatives. Additionally, their annual business conference, Greenwood Week, will continue to play a crucial role in building social capital and democratizing knowledge in Pittsburgh's Black business community, as outlined in their 2022-2026 Strategic Plan.
Bailey's vision for the Pitt Building goes beyond just creating a space for Black businesses to thrive. He also aims to revive the legacy of Black businesses in downtown Pittsburgh. "We want to bring that back, remind people that we are a part of a thriving economy just like anyone else," he explained, stressing the importance of Black communities not only as consumers but also as wealth-builders. This mission is closely tied to the organization's commitment to preserving the legacy of the original Black Wall Street in Tulsa, as highlighted in a related article by Black Enterprise.
As the Pitt Building officially becomes Black-owned, it is now poised to ignite Black businesses and entrepreneurs in downtown Pittsburgh. With The Greenwood Plan at the helm, the future looks bright for the city's Black community, and we can't wait to see the positive impact they will make in the years to come.
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