Group hopes to spark economic change through redeveloped space in north Minneapolis

MINNEAPOLIS (FOX 9) - A building that was long-vacant on a busy corner of West Broadway in Minneapolis is getting a new lease on life. The owners are also hoping to spark growth in minority-owned businesses.

927 West Broadway was built in 1901, but for years it remained vacant as the city hoped someone could redevelop it.

“We did a walkthrough of the space about four years ago now,” Chris said. “I immediately fell in love with this building. The city sign has been on it for at least the last seven years.”

One of those people turned out to be Chris Webley, who re-invented himself after layoffs at Target. He is now a real estate developer with a purpose.

“Our bread and butter is taking overlooked and undervalued properties in the community and co-activating them with the community," he said.

So, on Oct. 6, they held a ceremonial groundbreaking for what’s hoped can be a spark of economic change on the stretch of Broadway Avenue.

Webley’s New Rules has partnered with TRI-Construction, a minority-owned building businesses, and with the Phillips Family Foundation to renovate the building and add a three-story addition on the back.

“What an honor for three African American males to join forces and say that we’re going to change the narrative and create entrepreneurship,” said Lester Royal with TRI-Construction.

“We as a foundation believe in the genius that exists on the north side,” added Patrick Troska with Phillips Family Foundation.

Phillips and TRI-Construction will headquarter at the building, while Webley’s New Rules will rent retail and event space as well as office co-working space. The partners have plans to redevelop several other properties in surrounding blocks.  

“It’s definitely going to look a lot different - a lot of bustling black and brown small businesses that are here, so a lot of activity…we’re excited about it,” Chris said.