Investors of Color from Roxbury, Hyde Park, Dorchester and Mattapan Come Together to Build Generational Wealth in Their Neighborhoods
ROXBURY, MA -- Rooted in Roxbury, a community-conscious cannabis business, today announced it has been awarded a preliminary license to operate a retail cannabis establishment in Roxbury’s Nubian Square. The Boston Cannabis Board’s unanimous vote to grant the license makes Rooted in Roxbury the first awardee to be 100% owned and financed by Boston residents of color. The Board Chair and Commissioners applauded the company’s application and expressed excitement for its vision to contribute to a larger commercial ecosystem that advances Nubian Square.
The Rooted in Roxbury investment model provides communities of color access to the emerging cannabis industry through shares that cost as little as $1,200. To-date, the company has secured 43 investors at an average investment of $16,500. Investors are 100% people of color, 51% female, and 100% Boston residents.
“As we had conversations with members of our community, we found that people feel this industry will only benefit the few, and that many in the community would like the opportunity to participate. We believe the people of Boston should be the ones to invest, own and operate cannabis businesses in Boston,” said Rooted in Roxbury Co-founder and Chief Operating Officer Brian Keith. “Let’s be honest: when billion dollar opportunities come around, people of color are not included until there is a quota to fill. We are doing it from the ground floor.”
Rooted in Roxbury will move forward in the process to operate a 2,500-square-foot adult use cannabis retailer at 2177 Washington Street in Roxbury's Nubian Square. Its ownership team, Brian and Joanne Keith and Solmon and Rokeya Chowdhury, brings over 20 years of combined experience as small business owners and 30 combined years as community advocates. The proposal for Nubian Square received support from Mayor Walsh’s office, Boston City Council President Kim Janey, and the Nubian Square Neighborhood Association, as well as several local residents, businesses and associations.
Rooted in Roxbury will now pursue the completion of a Host Community Agreement and a zoning variance through the Zoning Board of Appeals, before moving onto the Cannabis Control Commission’s process for State licensure.
Press Inquiries Contact: Dot Joyce | 617-592-2967 | email@example.com