November 1, 2019 Edmonton, Alberta
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FOR IMMEDIATE RELEASE “The Piazza: Community-Driven Project with an Extra Shot of Espresso”
Little Italy businesses and residents are set to launch an ambitious community investment project 5:30PM, November 4, 2019. The innovative project will purchase and refurbish a pivotal commercial centre, now affectionately known as “The Piazza”, across from their beloved Giovanni Caboto Park.
The investment launch will be celebrated at Zocalo for media, prospective investors and other interested parties. “We need investors for an exciting and dynamic project that will rejuvenate this tired commercial corner with local, forward-thinking investment” states Miranda Ringma, Board Chair of the team of initial investors piloting the project, and co-owner of Zocalo. “Think of it like a big kick-starter, with an extra shot of espresso. It truly is a unique made-in-Little-Italy solution that has, at its roots, community-driven investment.”
“Imagine a gelato stand, family-friendly enterprises and a locally-focussed, contemporary retail environment across from Giovanni Caboto Park and in one of Edmonton’s best neighbourhoods to live and work” states Teresa Spinelli, Board member and President of the Italian Centre Shops as well as the Viva Italia District Association.
The project will be financed through an innovative investment vehicle: an investment co-operative which also conveniently allows RRSP and TFSA conversions into the co-op. The Board has formed the McCauley Development Co-operative that will manage the investment portfolio. The Offering Memorandum, notes the property is valued at just under $3M and that the project requires at least $1M of investment by November 30 to proceed.
Alayne Sinclair, resident of McCauley notes, “We are excited to launch the first investment co-op in Edmonton where community-minded investors can see their investments in action and where they can participate in a very tangible way in the creation of positive and constructive development.”
Founding board members include McCauley business owners and residents: Anna Bubel, Jonathan Christenson, Shafraaz Kaba, Miranda Ringma, Alayne Sinclair, Teresa Spinelli, Dr. Siân Williams and Edmonton Community Development Company.
“We are thrilled to be part of creating positive, family-friendly public spaces in our neighbourhood! Building on the assets of some of the awesome businesses, our beautiful park and good neighbours, this investment is such a great opportunity for both Little Italy and The Piazza’s investors.”, states Dr. Siân Williams,“Please join us Monday.”
Investment co-operatives include Sangudo Opportunity Development Co-operative. These co-ops have investors working together, often with a local initiative in focus, to build local investment that create the community they want.
For more information about the McCauley Development Co-operative, the Offering Memorandum or The Piazza Project Launch, contact:
ECDC, Karen Gingras 403-866-6387
Board Member Miranda Ringma 780-428-0754
Click the Contact button below to inquire about the McCauley Investment Co-op and the Plazza.