HOUSTON – The Magnolia Fund hopes to help revitalize the East End of Houston with a transformative project near Magnolia Park that combines commercial kitchen space and community events.
Erik Ibarra, a co-founder of the Magnolia Fund, envisions a space where food entrepreneurs can thrive, while also preserving the rich culture of the East End.
“I’ve lived here my whole life, but in the last 15 years I’ve seen so much development,” Ibarra said. “That gives me the confidence that now is the right time to be building something new.”
The project includes the renovation of a building, built in 1925.
“It’s a little bit of a shell but we can envision, you know, a third of it being kitchen and the rest being open for events and a place for community,” Ibarra explained.
One of the key features of the project is the opportunity for community members to invest in the space.
“They can invest as little as 100 or as much as they want,” Ibarra said.
The return model aims to return the original investment.
“Our idea is look, within five years, no, not guaranteed, but within five years of the target,” Ibarra said.
The project has garnered excitement from local entrepreneurs and investors, including Daniel Hinojosa, who sees it as a chance to expand his barbecue catering business, known as Harris County General Store BBQ Company.
“This gives us a chance to expand our menu and also kind of flex, you know, get our feet planted a little firmer here in the community,” Hinojosa said.
The Magnolia Fund aims to raise $1 million to begin construction on the commercial kitchen, with hopes of having the buildings up and running in about a year.
To learn more about the Magnolia Fund and find out what local businesses are involved you can visit Magnolia Fund
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