Business Community Ownership Fund
Business Community Ownership Fund supports Seattle small businesses through shared commercial property ownership to secure affordable space, prevent displacement, and build long-term financial stability.
Funder: City of Seattle
Due Dates: Rolling (Project ideas)
Funding Amounts: Commercial real estate investment and shared ownership through project-specific LLCs
Summary: Supports shared commercial property ownership for Seattle small businesses to secure affordable space, prevent displacement, and build financial stability.
Key Information: Participating businesses must provide measurable community benefits associated with the program’s public investment.
Description
The Business Community Ownership Fund is a pilot collaboration between Seattle’s Office of Economic Development and Grow America that invests in commercial real estate to secure stable, affordable space for neighborhood businesses. It addresses rising rents and barriers to capital rooted in systemic inequities, particularly affecting businesses owned by Black, Indigenous, and other people of color, immigrants, women, and LGBTQ+ people.
The fund aims to keep existing businesses in their neighborhoods, help displaced owners return, and create pathways for businesses unable to establish themselves in Seattle because of commercial rents. It seeks affordable commercial projects that integrate ground-floor space into neighborhoods, provide culturally relevant goods and services, and support business sustainability and growth. Shared ownership is intended to build owners’ financial security, economic independence, and long-term control.
