Madison Gray, Online Journalist

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Nostrand Avenue: Why It’s the New Gentrification Flash Point

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Edmon Braithwaite remembers the struggle of finding ways to help businesses along Nostrand Avenue. The area was among the least desirable areas of Brooklyn to open a business.

As founder and chairman of the Bed-Stuy Gateway Business Improvement District, he spent many days negotiating with banks and trying to persuade city officials that the artery was worth focusing on. Most of those businesses, a majority of which were minority-owned, had trouble securing loans, getting insurance and finding operating capital.

“We were under the delusion that funds would be made available to minority businesses, but it never materialized,” said Braithwaite, who owns Nostrand Avenue Wines and Liquors. Yet against the odds, many of those businesses survived. Now they face a very different challenge: Nostrand has been discovered.

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Written by Madison J. Gray

August 2, 2017 at 6:11 pm

Posted in Uncategorized

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