Today, we are launching a campaign to raise the funds necessary to realize this vision for Esther's Orbit Room Cultural Revival Project. We are seeking $1.8 Million from our community of supporters to close our funding gap. We have already lined up $627,510 towards our goal. Will you join us?

The time has come for us to transform Esther's into a home for Black futures. Currently, we’re in a due diligence period. Finance Director, Ojan Mobedshahi is leading coordination of the various inspections that must be completed before we close escrow on June 15.

Already we know that the building is in a serious state of disrepair. Closed in 2011, what was once the crown jewel of 7th street is now a shell of its former self. The buildings require significant structural upgrades before anyone can move in. But, when the work to rehabilitate the property is complete, we envision it will hold space for below market rate commercial residents and 8-10 new resident owners.

Opening Esther’s can be the spark that sets in motion a series of openings up and down 7th street that are needed to re-energize the corridor. As an example, we only need to look to the east end of the corridor at Bikes for Life, Self-Help Credit Union and Mandela Grocery Cooperative to see what is possible when we invest in us.

We will do the same on the west end of 7th street and permanently shift the landscape to resemble the ebullient Black business corridor it once was.

We need resources to complete and realize the Esther’s Orbit Room Cultural Revival Project. That's why we're kicking off a campaign to raise awareness of the project, and funds to complete it. We need $1.8 Million dollars to purchase and rehab Esther’s.

Keep reading to learn more about all the different opportunities to tap in, if this project excites you as much as us. Or check out our project page to learn more about what we’re planning. Read our full announcement on the blog.

BECOME A CHAMPION

Help Spread the Word! Excited about our Capital Campaign and ready to #investincommunitiesnotcommodities?

Join us as a Champion! Move your money out of Wall Street and into 7th Street Invest in the long-term stability of our West Oakland community.

What does it mean to be an EB PREC Champion?

As a Champion you’ll work with us to spread the word to your community of friends, family and neighbors about our campaign to purchase and revitalize Esther’s Orbit Room and the 7th Street Corridor for #BlackFutures. It’s a rough commitment of a couple hours spread over the next six weeks, leading up to our Juneteenth Member meeting, and we’ll ask you to support us by:

• Spread the word to your networks over social media, email and word of mouth!
• We'll provide content copy and a Champions Packet.
• Make 5 outreach efforts on our behalf to help us raise funds for Esther's, from May 6-June 19.

Excited to get involved?

Email annie@ebprec.org to let us know you’re interested in becoming a Champion.

CALL FOR ARCHITECTS

REQUEST FOR PROPOSALS

To share an example of what we've been working on inside. Here is an RFP we drafted and shared with community. The opportunity for phase 1, is closing tomorrow, but we'd love to connect with you if you're interested for phase 2. The vision for Esther's Orbit Room is to anchor a Black arts organizations in the East Bay, and help spur the revival of the 7th Street Cultural Corridor as a center for Black culture in Oakland.

We seek a like-minded architect to help us complete Phase I due diligence architectural services for our pilot mixed use project: the Esther's Orbit Room Cultural Revival Project.

Do you know someone who should submit a request? Please find the RFP linked here, and let ojan@ebprec.org know if you intend to respond. The deadline for proposals is tomorrow May 7, 2021.

JOIN US TO LIBERATE CAPITAL

AN INVESTMENT OPPORTUNITY WITH REAL IMPACT

Join us to close the funding gap and help raise the remaining $1.8 Million dollars needed to revitalize Esther's! Your investment allows us to create a Black Arts destination, revitalize a corridor, create economic opportunities for the community and birth an anchor institution that supports Black arts, centers cooperative development and activates the culture.

You should invest in the collective if you want:

• To invest hyper-locally, instead of in Wall Street
• A good cup of coffee in your neighborhood
• Excellent art and culture right here in West Oakland
• An association of merchants in West Oakland to build power together

The Esther’s Orbit Room Cultural Revival Project is a pilot. It’s our first multi-use acquisition, but when we are successful it will set in motion a series of events that--we are confident--will inspire the creation of other much needed entities on the 7th street corridor.

We only need to look to the other end of the 7th Street Corridor for proof of what can happen when we decide to invest in each other. We encourage you to read the offering circular before making a decision to invest.

OTHER EB PREC NEWS

WELCOME RESIDENT DIRECTOR ELLEN SEBASTIAN CHANG

We’re very pleased to introduce the collective to Ellen Sebastian Chang. Ellen is the newest member of the Board and was nominated and voted in by resident owners using the closed elections process, as their representative.

In her role as resident director, Ellen represents the interests of Resident Owners. Responsibilities include, but are not limited to overseeing EB PREC staff activities, and accepting several fiduciary duties to preserve the cooperative’s health. The full list of board member responsibilities can be found in our bylaws.

Read more about Ellen on the blog.

Read About The Esther's Cultural Revival Project in the Press

PODCAST | How To Citizen With Baratunde | Baratunde Thurston invited Noni on the podcast to chat about how EB PREC is reclaiming the East Bay community, and building agency through real estate.

ARTICLE | Reviving a Black Cultural Corridor in West Oakland as a Community-led Cooperative | EB PREC is part of a new crop of neighborhood trusts and other vehicles aiming to sustain affordability in cities by putting ownership and control of neighborhood assets into the hands of low-income residents and their allies.

ARTICLE | Funders Can Advance Community Self Determination but It Might Mean Leaving Their Comfort Zones | A look at how EB PREC’s cooperative ownership model works and how the organization operates in nontraditional fundraising terrain.

ARTICLE | This Real Estate Coop Is Looking for Investors Who Want to Put Community First | East Bay Permanent Real Estate Cooperative is now looking for new investor-owners to join its cause. It’s looking to raise $50 million in shares through what’s known as a direct public offering, to finance projects that are already coming into the co-op’s pipeline.

Upcoming Events

Evening Orientation with EB PREC | Every First Tuesday | 6:30 PM PDT | June 1 | Have you been meaning to join one of our orientations but can't make it at lunch time? You’re in luck. Evening orientations also happen once a month. Click here to RSVP!

Lunchtime Orientation with EB PREC | Every Third Thursday | 12:00 PM PDT | May 20 | Join us for our regular orientation to learn about our work, our model, and how you can get involved. RSVP HERE!

Juneteenth Member Meeting | Saturday, June 19 | 11:00 AM PDT | Join us for our first member meeting of 2021! We’ll be sharing updates on our work, and making space for members to connect with each other. More details to come!

Member Survey

We're growing which means we're on to something. It also means our relationship to each other expands. Help us stay grounded in our purpose and connected to you. Sharing a bit about yourself helps us better understand how to show up for each other. Complete the member survey to help us remain tapped in. 

Take the survey!