Business

Family closes $1 million deal to recreate modern-day Black Wall Street

Entrepreneur Tony A. Reimonenq Jr, his wife, and his three sons have always dreamt of recreating a modern-day Wall Street in Mississippi. Therefore, when one of the known malls in the state went up for sale, he purchased the property with the intention of recreating it like Black Wall Street.

“I’ve always had a heart to help others succeed, but to do that I first had to succeed,” Tony, who is CEO of the family business, told Black News. “I’ve dreamed of having a location from which others like myself can work and draw inspiration from Tulsa’s Greenwood District.”

“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.”

In this regard, the family has successfully purchased a 20-unit strip mall in the Oak Grove community of Hattiesburg, Mississippi with a plan to transform it into a local version of Tulsa, Oklahoma’s Historic Greenwood District also known as the original Black Wall Street.

The family intends to name the property Greenwood Plaza, and it is the second major commercial expansion of their family-owned firm, Reimonenq & Co LLC. Also, the purchase of the mall puts Reinmonenq and his family in the state’s three percent of African Americans to have ever independently brokered a million-dollar deal.

According to the Small Business Administration’s District Director Janita Stewart, the Greenwood Plaza is a necessary component in helping to nurture and sustain local ventures since small businesses are critical to Mississippi’s economy. 

“Having a resource to help someone start a business or grow an existing one situated under the same roof is a great asset. Small businesses and entrepreneurs need various resources to do what they do best, which is to create, make, sell something, or provide a viable service,” she noted.

Abu Mubarik

Abu Mubarik is a journalist with years of experience in digital media. He loves football and tennis.

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