City Market Is the Largest African-Owned Business on Lake Street.
1825 E. Lake Street, at the SE corner of Cedar Avenue
Minneapolis Mayor RT Rybak and Ward 9 City Council Member Gary Schiff joined the African Development Center (ADC) in celebrating the opening of City Market, the largest African-owned business on Lake Street.
The celebration was partly recognition of rising entrepreneurship among Africans in Minnesota and its revitalizing effects in commercial corridors like Lake Street.
City Market is a move-up venture of Mohammed Ahmed, a Somali immigrant and seasoned entrepreneur. To launch the new business, Mr. Ahmed invested $480,000 earned in part as the proprietor of Midwest Halal Supermarket at Franklin and Portland Avenue in Minneapolis.
“Supermarket” may have been an optimistic name to describe the dimensions of Mr. Ahmed’s original location. But with five stores in one — a halal meat shop, grocery, money wiring service, coffee shop and restaurant — the new City Market spreads comfortably over 10,000 square feet in a newly redeveloped building in the Cedar-Lake commercial node.
ADC and the City of Minneapolis partnered to complete the financing for City Market, investing a total of $70,000 through the City’s Alternative Financing Program for small businesses, which offers profit-based financing as an alternative to traditional, interest-based lending.
Hussein Samatar ADC Executive Director about to invite Minneapolis Mayor RT Rybak to officially open City Market
