South Como Community Investment Cooperative announces first property purchase

The South Como Community Investment Cooperative (South Como Co-op) is thrilled to announce its first purchase agreement on a community-owned property set to close in mid-November – a major milestone for the co-op and neighborhood investment.
Located at the corner of Front Avenue and Chatsworth Street in the South Como neighborhood, the 2,176 sq. ft. mixed-use building embodies the co-op’s mission of fostering vibrant spaces and equitable economic opportunities.
Highlights of the property include:
• Two occupied residential units
• ~800 sq. ft. vacant commercial space ready for a new business
• Close proximity to transit and other local businesses, serving as a strong neighborhood anchor
• Sellers who are themselves co-op members, underscoring the community-centered nature of this first-of-its-kind investment
“This whole effort began with a group of neighbors committed to investing in the current and future potential of businesses in our neighborhood,” said Jessica Willman, president of the South Como Co-op. “I always tell people that we’re a scrappy bunch, and over the last 18 months, we’ve been diligently crossing all Ts and dotting all Is, working with local partners in real estate and economic development, and inviting community members to join us in making this vision a reality.”
The purchase was made possible through a financing structure that reflects the power of collective investment. The down payment and pre-development costs were raised directly from membership investments, while the rest of the funding was secured through a low-interest Shared Ownership loan from the Metropolitan Consortium of Community Developers. Technical partners also included the LOCAL Fund, administered by Nexus Community Partners.
“This property is more than just bricks and mortar – it’s the launchpad for proving what community ownership can look like,” added Willman. “Our plan is to keep rents affordable and fill the commercial space with a business that truly meets community needs.”
Membership in the co-op remains open to anyone living in the state of Minnesota who wants to help shape South Como’s future. The co-op is currently offering memberships and preferred shares. Learn more at southcomocoop.org/preferred-shares.
Join the board, co-op members and neighbors for a Community Celebration on Saturday, Nov. 1 from 5-7 p.m. at Orchard Recreation Center (875 W Orchard | St. Paul) to celebrate the work that neighbors have done to make this possible.