Strong creative economies are essential to thriving communities. Known for its street-art scene, deep musical heritage and booming creative economy, Atlanta is often listed among the top ranked cities for creativity. From “at-home DIYers” to big-budget, global brands, the room to dream is big—but the space to grow isn’t always accessible to small-scale entrepreneurs.
Looking to expand, fill a unique niche and foster community, the Koncept House has acquired a second commercial space. The project will revive a landmark commercial building in the Capitol View neighborhood of Atlanta and transform it into a unique and inviting space for makers, creatives and e-commerce entrepreneurs to spread out and set up shop.
The commercial real estate market doesn’t address the spacing needs for inventory, warehousing, and manufacturing—space that is incredibly important, especially for budding entrepreneurs growing to scale. The vision behind Koncept House is to provide space for entrepreneurs who have businesses and inventory that do not fit in a traditional office or a co-working space. These entrepreneurs need micro spaces for things like showrooms, yoga studios, warehousing, and manufacturing.
Reinvestment Fund financing will support the acquisition and rehabilitation of the 15,000-square-foot property, which sits directly across the street from the Metropolitan Library—a community staple that also serves as a “cultural center.” In addition, the project sits conveniently just blocks away from the nearest Atlanta Beltline spur and is accessible to local bus lines.
“The Koncept House fills a critical need for those entrepreneurs who are ready to move their operation out of their ‘garage,’ but not yet ready to maintain a large warehouse or showroom on their own,” said Khaliff Davis, Reinvestment Fund Managing Director, Structured Finance. “Our financing enables the Koncept House operators to provide flexible, convenient space for creative entrepreneurs to grow at their own pace affordably and sustainably.”
Once dubbed the “Capitol View Lodge,” the building was home to the Freemasons, a historic fraternal organization, who chartered Lodge 640 in 1913. Vacant for the last several years, Koncept House is reimagining one of the largest properties on the commercial thoroughfare by renovating the multi-tenant space to create space for small, locally based minority companies.
The City of Atlanta registered the property as a “Landmark Building” in 2021. Given its historic designation, no changes can be made to the outside of the building. Inside, reveals a contemporary inviting creative space featuring hardwood floors, exposed brick, and tall ceilings. The renovation and redevelopment will include the installation of an elevator, new HVAC, windows, and roof, and updated restrooms and common areas.
The project is led by the Core Venture Studio, a minority-owned firm that has intentionally sought Black-owned, small businesses as tenants. As of July 2022, the first Koncept House site had leased 100% of the current property to 31 entrepreneurs in the beauty, fashion, e-commerce, health and wellness, micro-manufacturing, media, and specialty food businesses. Nearly 95% of that space is leased to women-owned companies, many of which identify as Black.
Learn more about Reinvestment Fund’s investments in Atlanta here.