BUFFALO, N.Y. (WKBW) — The Barrett & Benitez Development plans to restore Michigan Avenue with a project called "Loads of Love."
The crowdfunding campaign will build a two-story building for those living in the East Side of Buffalo with an eco-friendly laundromat and cafe.
The co-founder of the affordable residential housing development, Brandi Barrett, tells 7 News reporter Yoselin Person the project is a vision of uplifting a community that Barrett says continues to be overlooked.
"The East Side of Buffalo has been forgotten about for a long time. But I think our state representatives and our city representatives are changing that due to what happened on May 14th," she says. "So we want to continue to ride the momentum of the boom of the East Side, but we want to do it together."
Barrett says it takes the community investment for this project.
"So to do this project it's costing us almost $2.5 million, and we need ten percent of the equity to get it built," the co-founder says. "So we took the crowdfunding campaign to help raise that owner equity to be able to do this project."
Crowdfunding is a way for developers to obtain capital funds for projects like the one Barrett & Benitez Development is trying to make happen.
"If someone decides to become an investor for Barrett & Benitez, they’ll be getting a return from any money that the business itself makes and also the project because the project is under the business," says Jackeysi Benitez, co-owner of Barrett & Benitez Development. "Very simply put if you become an investor through a crowdfunding campaign you're buying shares into a project and development."
Others say this project has its own unique ways of having those living in the East Side be able to invest and have a say to the project.
"It’s a need for people that are in need of living situations, so it’s a great opportunity for our community for the whole city honestly," says a resident.
Barrett & Benitez Development hopes to have construction of the project begin sometime next year.
But they do need the community's help.
Click here to find out how you can partake in the crowdfunding campaign and learn more about the mission of this project.
