The Greenwood Plan, a nonprofit organization, has successfully acquired the historic Pitt Building in downtown Pittsburgh for $4 million.
The acquisition, finalized on December 21, 2023, signifies a transformative step toward enhancing economic opportunities for Black entrepreneurs, creatives, and gig workers in the city.
The momentous move was inspired by the spirit of Tulsa’s “Black Wall Street”.
Khamil Bailey, the executive director of The Greenwood Plan, envisions the Pitt Building as a dynamic hub that will serve as a Black business incubator.
The organization’s mission is to provide favorable terms for Black businesses to operate in downtown storefronts, fostering an environment where they can thrive.
Central to this strategy are programming initiatives and rent subsidies aimed at creating supportive conditions for Black entrepreneurs, allowing them to benefit from the downtown traffic.
Speaking with The New Pittsburgh Courier, Bailey said her organization is commited to attracting Black chefs and restaurateurs passionate about delivering high-quality dining experiences.
The goal, she revealed, is to establish a Black, four-star dining experience within the Pitt Building, contributing to the creation of a vibrant and diverse ecosystem.
The Greenwood Plan had previously launched Emerald City, a 12,000-square-foot coworking and social space on the second floor of the building in 2021.
With the recent acquisition, the organization is expanding its mission to connect partners, resources, and initiatives to Black entrepreneurs, professionals, gig workers, and creatives, according to reports.
One of the major focuses of the initiative is to revive the legacy of Black businesses in downtown Pittsburgh. Greenwood Week, an annual business conference hosted by The Greenwood Plan, will continue to play a crucial role in building social capital and democratizing knowledge in Pittsburgh’s Black business community.
The organization’s 2022-2026 Strategic Plan underscores the significance of this conference as a cornerstone of future initiatives.
In outlining the vision for the Pitt Building, Bailey expressed the desire to remind people that African Americans are an integral part of a thriving economy, not just as consumers but as wealth-builders.
