A Black family has scored a $1 million deal to convert a Mississippi plaza into a new Black Wall Street.
According to Black Business, entrepreneur Tony A. Reimonenq Jr. of Reimonenq & Co. L.L.C., his wife, and three sons bought a 20-unit strip mall in Hattiesburg, Mississippi’s Oak Grove. The family reportedly plans to turn the location into a modern rendition of the first Black Wall Street, founded in Tulsa, Oklahoma’s Historic Greenwood District–a community founded by African Americans during the early 20th century.
The establishment will reportedly be named Greenwood Plaza and provide spaces for fellow Black Americans to empower themselves and prepare for business ownership.
“I’ve always had a heart to help others succeed, but to do that, I first had to succeed. I’ve dreamed of having a location from which others like myself can work and draw inspiration from Tulsa’s Greenwood District,” Reimonenq Jr. said about closing the new deal.
Sadly, the original Black Wall Street was destroyed after angry white residents attacked its homes and businesses in 1921. According to the Library Of Congress, “thirty-five blocks were systematically looted and burned, destroying 190 businesses and leaving 10,000 people homeless. The property loss estimated by the Tulsa Real Estate Exchange was the equivalent of $31 million in 2017, likely an underestimation.” However, decades later, the legendary community hasn’t been forgotten.
Reimonenq Jr. and his family has decided to keep its legacy alive with the intention of empowering those who “need an opportunity” with Greenwood Plaza.
“I want to empower the people at the bottom of the pyramid who just need an opportunity,” he added. “They aren’t lazy. They work hard but just haven’t learned how to win yet…I know how and want to link up with them to be a part of helping to not only change the trajectory of their lives and the lives of their families but of our communities as a whole. I see it as a civic duty.”
Janita Stewart, The Small Business Administration’s District Director, said the plaza is perfect for a number of establishments, including trade schools, barber shops, beauty salons, caterers, insurance and others.
“Having a resource to help someone start a business or grow an existing one situated under the same roof is a great asset,” said Stewart.
