The unrest in Minneapolis has come in response to decades of entrenched, structural racism in the systems that govern day-to-day lives. It is clear now that racism is a reality in Minneapolis and systematic changes are required to move our city to a better place.
The ownership and development of land and buildings is firmly anchored in this structural and systemic racism. Black and brown communities have been systematically denied the opportunity to build wealth through ownership of real estate by racist policies including redlining and block busting.
The Upper Harbor Terminal project in north Minneapolis — 48 acres of city-owned property — can either continue the practice of real estate development as an extractive wealth process or it can become a model for community wealth-building and ownership.
The proposed use of $20 million in state bonds to construct a 10,000-seat performance venue would be a continuation of public funding for white-owned business wrapped in the holy cloth of equitable development.
As currently structured, this project would create generational wealth predominantly for majority-owned businesses outside of the north Minneapolis community. The bulk of the jobs created by the performance venue would be part time, minimum wage and seasonal.
If the global COVID-19 pandemic has shown us anything, it is that the economic realities of our city, country and world are far from equitable and black and brown communities are at the bottom of the ladder.
We do not have to follow this familiar playbook. We can redesign the underlying inequitable real estate development and economic development systems that are a significant source of frustration and anger in communities of color.
Currently, several models of community wealth-building are successfully operating across the country, including the Community Investment Trust in Portland, Ore., and the Neighborhood Investment Corporation in Los Angeles. A recent call sponsored by the Kresge Foundation gathered over 80 people from across the country to learn about these and other community wealth-building strategies.