In this episode, Annie McShiras and Ojan Mobedshahi discuss East Bay Permanent Real Estate Cooperative, a community-centered development coop that removes real estate from the speculative market to create permanently affordable, community-controlled commercial and residential projects. They share how they raised over $4 million for Esther’s Orbit Room, a historic venue in West Oakland, and plans to raise more under their Regulation A+ offering.

Key Takeaways:

"We've raised $4.3 million. We're about $600,000 shy of our goal. . . . The same seller who sold us [Esther's] owns 26,000 square feet of vacant property two parcels down. . . . This whole corridor is getting gentrified. Getting control of this whole block for community ownership is a real dream of ours."

"It’s an ongoing conversation, to work to transform not only the real estate system but the financial system and the ways in which we’re trying to galvanize non-extractive funding."

Bios: EBPREC Finance Director and Treasurer Ojan Mobedshahi and Investment and Funding Director Annie McShiras

Ojan Mobedshahi is a 2nd generation Iranian American, born and raised in the Bay Area. He has experience in healthy land use spans landscape design, restoration and education, real estate brokerage, construction and development, and political organizing. Ojan lives in a co-op in Oakland, and is also a landscape contractor and regenerative permaculture designer. You can reach Ojan at ojan@ebprec.org.

Annie McShiras works to actualize her bold vision of an economy where all people have enough to thrive through her work as a fundraiser, storyteller, and business development strategist. She has worked across fields including student organizing, worker cooperative development, popular education, impact investing, and transforming our financial system. A white queer organizer, Annie is dedicated to justice, abundance, and equity, and is committed to learning and growing as a lifelong practice. She remains steadfast in her approach to create parallel, democratic institutions that provide a more just alternative to corporate capitalism. Annie’s tenet belief is that there are enough resources for everyone to thrive as long as those resources are distributed equitably. You can reach Annie at annie@ebprec.org.

Get In Touch:

Website: https://ebprec.org/

The video mentioned in the episode: https://youtu.be/LC7D_boDd2Q

Socials:

Company Twitter: https://twitter.com/ebprec

Company LinkedIn: linkedin.com/company/ebprec/about/

Company Facebook: https://www.facebook.com/ebprec

Additional Resources:

Angels of Main Street is a community of investors with no minimum wealth or income requirement to join. If you'd like to be part of a community of diverse investors who want to make a difference with their dollars, please join us in Angels of Main Street!

Episode Credit: Intro and outro are voiced by Marina Verlaine. She can be contacted at reel.peach.vo@gmail.com

Episode 40: Using Impact Investment to Build Community with David Lynn

Capital InsightBy Jenny Kassan & Michelle ThimeschMar 21, 2022