There has been a lot of revitalization on Lake Street. Many life-long residents are happy to see the changes that have occurred in the past four to five years. What some people do not like is the type of businesses that have moved onto Lake Street and the communities or cultures that they serve. But what we must realize is that these new business reflect the demographics of the neighborhoods surrounding lake street.
No one in Minneapolis will argue with the point that no one individual or sole proprietorship development and management company has done more then Basim Sabri of Sabri Properties. Single handily he has brought more then 180 small businesses to the Lake Street area. People of color have had opportunities to operate their business on a major corridor such as Lake Street because of Basim Sabri. These small businesses have created opportunity and jobs that cannot go unnoticed. The good things that Basim Sabri has done should be lessens to everyone that wish to assist in the expansion and creation of opportunities for people of color economically. OK, I have talked about Sabri Properties and Basim Sabri as a wonderful developer. Now I will say something that many shock some of you. Sabri Properties is one of the city of Minneapolis best CDC's. That's right. Sabri Properties also assists small businesses with resource referral, loan information, zoning, licensing, and business planning at no charge. Did anyone know that Basim Sabri (Sabri Properties) also donates large space for Islamic worship on Lake Street? Drive by 317 East Lake around 12:00 on any Friday and see how many come there to worship. The space is also used for other activities relative to the Islamic belief. Basim Sabri has received some subsidy funds for his one of his projects. To my knowledge it is the amount to $60,000 that was tied to the development of 301 east lake by the neighborhood organization. That's it. Of all the projects, of all the reconditioned buildings, of all the commercial development, $60,000. I have seen organizations and developers receive more then $60,000 for the development of a few rooms. Does anyone care to even visualize how much in subsidies has gone into the development of Lake Street? MTC could put up two bus shelters for $60,000. Selwin Ortega owns several buildings on Lake Street. Frankly more then anyone in Minneapolis. They are to him real-estate investments. So if they go unoccupied for several years its OK as long as they appreciate in value. This type of activity is costly to the development of Lake Street. Only one person benefits from this holding of commercial buildings hostage. On a closing note, there is not another developer the size of Sabri Properties that employs more minorities in Minneapolis. Not one! Sabri Properties has Latino, African American, Asian, Creole, and white employees. At the development at 2nd Avenue south there are more employees of color then there are at the entire Block E Project downtown and/or the Near North Project. We can only hope that Basim Sabri will continue to do what he has started. I only hope that in all fairness he is given the opportunity to do so competitively with those that receive large subsidies. Zachary Metoyer Central Resident _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
