THE MINORITY AND VETERAN THE LED COMPANY DEFINES ITS $400 million PRIVATE EQUITY PLACEMENT OFFERING TO GO LIVE WITH CAPITAL AND INVESTMENT COMPANIES IN MAY 2022 AFTER THE PRESALE PERIOD TO EXPAND ITS PORTFOLIO OF ACQUISITIONS, DEVELOPMENT AND ACTIVITIES IN HOTEL & RESIDENTIAL REAL ESTATE FOR MIXED USE
NEW YORK, March 29, 2022 /PRNewswire/ — Renascence Equity Ventures, a veteran and minority-led venture, has agreed to join the Midtown Manhattan JV development team to build the Hip Hop Hall of Fame (501c3), hotel, offices, residences, retail, and an entertainment complex that also includes a new NY Space & Tech Institute.
New Space, Tech, Arts, Research & Science Institute (NY STARS Institute) will train New Yorkers and underserved student communities for future jobs, careers and entrepreneurship with STEAM educational programs in computer coding and technologies Web3, space exploration, environmental technology studies, arts and media production, business incubator and accelerator to keep NYC at the forefront of developing new talent and creating opportunities for a new business development center in the city and state for the upcoming advanced technological and environmental economies and the challenges of the 21st century.
The planned Midtown development is a 1.4M 50-story, 50-square-foot tower to be designed by SOM Architects next to the Empire State Building, Madison Square Garden and Penn Station as part of newly unveiled infrastructure and transportation economic revitalization plans.
The Renascence JV ownership group is gearing up for upcoming meetings with local, city and state agencies and officials to be a community-friendly and inclusive project and gain final approvals for development as the group already owns approximately sixty- ten percent of the site. It is estimated that the Midtown project will generate more than $1 billion annually in socio-economic impact and return on investment for the local community, city, state and tri-state area in B2B, local business, cultural arts, education, entertainment, hospitality , tourism and housing sectors in a community-friendly development when it opens.
Renascence Equity Ventures seeks diverse, like-minded partnerships across all sectors of the economy to create new generational wealth, business and career leadership development opportunities for New Yorkers and in other urban communities. cities of this great country, said JT Thompson, CEO, who is also the creator. / Executive producer of the TV show Hip Hop Hall of Fame Awards which first appeared on BET Network in the early 1990s, and is the founder of the Hip Hop Hall of Fame Project and co-founder of Space & Tech Institute (STARS).
Renascence Equity Ventures Corporation has moved forward with plans to build a nationwide, owner-operated commercial real estate and entertainment technology company as it moves forward with its inaugural first round $400 million offering private equity investment capital. The funding round for the private IPO offering is expected to go to market in May 2022 for accredited and institutional investors after the end of the presale period.
The company will use the new equity financing round to expand its commercial real estate portfolio, operations, people, partnerships, marketing and technology capabilities to scale its business with quantifiable value propositions and growth strategies industry proven.
Renascence has already targeted its first mixed hotel and residential businesses in new York and entered into an acquisition agreement on a Florida goods. The company is in various stages of negotiations on three other major development sites which include New York City, Los Angelesand Atlanta to be acquired with capital raised from the offering which will include new hotels, affordable housing, retail and entertainment venues as it explores further commercial real estate development opportunities through public and private partnerships for affordable housing and much-needed community cultural spaces.
The “Renaissance property has an all-star development team and operational management partners who have developed, owned and operated significant commercial real estate office buildings, hotels, residential apartments, retail development projects of detail and great height.” said David GrayBusiness communication.
In the meantime, the Hip Hop Hall of Fame will open the Hip Hop Café™ & Interactive Gallery in its new Harlem location in early 2023. The hip-hop-themed Hard Rock Café-style venue will include the restaurant, concert lounge, an interactive Hip Hop museum gallery with AR/VR/Web3 exhibits and memorabilia, and a Hip Hop Arts & Tech educational academy for students.
The flagship Hip Hop Hall of Fame awards TV show “Induction Ceremony & Concert” will return later this year and is being negotiated with TV networks as the show will also air on TV and in the Metaverse.
Renascence plans to operate its brand as a contemporary, technologically enabled creative value portfolio of businesses with unique properties, and strives to systematically drive expansion through these types of real estate acquisitions and development projects, entertainment and technology properties, and with the advancement and development of an exceptional management team and personnel drawn from all sectors.
The equity offering, made where possible, and the first round should have maximum gross proceeds up to $400 million in shares to be announced, during the first of four planned rounds of its $3 billion capitalization, growth and expansion plan. More details about the offer and its filings will be released in the coming weeks.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction in which such offer or solicitation is not authorized and does not constitute an offer in any jurisdiction to any person to whom such an offer would be unlawful.
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SOURCE Renaissance Equity Ventures Corp