The Detroit Shoreway Community Development Organization
is looking for a few good shops to add to the charm of the Gordon Square Arts District
. To bring additional retail business to the area, the group is holding a Best Business Plan competition
First place wins free rent for a year; second place gets six months of free rent; and third place gets three months. Additionally, Cleveland councilman Matt Zone and the Charter One Foundation Growing Communities initiative
are offering grants of up to $5,000 to assist the winning businesses with build out and start-up costs. Additional financial resources are also available to businesses in the district.
“This is aimed at attracting local retail startup businesses to the district,” says Nick Fedor, Director of Economic Development with DSCDO. “We feel that we have a great base of restaurants and a strong base of assets to build on. We’re hoping this type of contest incentivizes more businesses to locate here.”
Ideally, the area could use a home furnishings store, men’s and women’s clothing and accessories store, and a hair or nail salon, Fedor says. “We’re looking for complementary shops to what we have now,” he says. “We are looking to increase the number of reasons why people would want to come to Gordon Square by having a wider variety of retail shops.”
The deadline to apply
is Friday, June 29th
by 5 p.m. Fedor said 40 to 50 people have already expressed an interest in applying. “We’re expecting a robust turnout,” he says.
The winners will be chosen July 13th
and are expected to open shop in September.
Source: Nick Fedor
Writer: Karin Connelly