iVillage at MLK
Be a part of affordable, attractive, and transit-accessible retail.
Investing in the MLK Corridor
The iVillage at MLK project is looking for a mix of entrepreneurs that could benefit from affordable retail, food and beverage options, and office space as they launch innovative businesses and test new ideas along the MLK Corridor. We’re looking for a mixture of tenants that both represent the community’s needs and new, innovative business ideas that provide an attraction to the HE Holmes Marta station.
About The iVillage
Supporting Atlanta’s Entrepreneurs
The MLK iVillage will soon incubate innovation by housing an exciting mix of entrepreneurs. The goal is to see these businesses thrive and one day spin off to expand along the MLK Corridor. During the construction phase of the Innovation Village, Invest Atlanta will solicit applications for tenants, and those who are chosen will pay an affordable monthly rental rate.
Enhancing the MLK, Jr. Drive Corridor
In 2016, the City of Atlanta was awarded a $10 million TIGER grant from the U.S. Department of Transportation toward a $22 million project to improve mobility and increase access to transit, employment centers, and services along MLK Jr. Drive. The investment in The MLK iVillage is part of this larger effort, led by former Mayor Kasim Reed and supported by Mayor Keisha Bottoms, to make Atlanta’s MLK Corridor one of the most vibrant in the nation.
Invest Atlanta is partnering with MARTA on this project as an innovative opportunity to jumpstart future interest in transit-oriented development (TOD) at H.E. Holmes Station. This pilot project can serve as a model for other MARTA locations around the city and region.
Who we’re looking for:
Aspiring entrepreneurs: Young entrepreneurs that are high potential and testing first businesses
Access: Businesses that provide access to fresh foods/ food entrepreneurs
Community focus: Tenants with strong community focus and benefit
Educators: Providing youth / workforce educational programs
Conveners: Provide type of programming or product has ability to convene
Social entrepreneurs: Solving community need with innovative solutions
- Ability to commit to one year lease at $700/month (food and beverage outfits will require different terms)
- Availability to commit to fixed, regular hours each week to operate the business
- Application Launch: January 19, 2018
- Applications Close: March 19, 2018
- Initial interview: Week of March 26, 2018
- Final Interview: Week of April 12, 2018
- Media and announcement of finalists: April 26, 2018
- Launch and opening of the park: Q2/Q3
- Submission of business model and financials, which includes an understanding of the capital required to open a container store
- Strong commitment to the community around HE Holmes Marta Station
Applicants will complete the application and participate in an interview process that evaluates their 1) readiness to be a part of the program, 2) their ability to provide unique value to the iVillage at MLK community. During the interview process, an advisory committee selected from the community will rank the tenants based on the following criteria.
- Business stability and ability to commit to year lease at $700?
- Are they in the position to fully take advantage of the opportunity and thrive?
- Can they commit the necessary resources to areas such as marketing to attract customers?
Problem and Market Need:
- Clearly defined problem and customers?
- Clear users of the solution within the community?
- Is the solution timely, relevant to community, and provide value to the current mix of tenants?
- Does this solution provide novel approaches that do not currently exist or are not delivered to their full potential?
- Will this solution attract new customers to the HE Holmes station?
- Does this company provide additional benefits to the communities around HE Holmes Marta station?
- Is the tenant particularly committed to bettering the community? How?
- Does this business have the potential to generate additional jobs?
- Do we think this founder can execute on the business plan?
- Beyond idea, does the founder have a firm understanding of business operations and their business model?
- Is this founder a self-starter who holds themselves accountable and is open to guidance on how to improve?