in December 2023, The Guild successfully acquired 890 Dill Ave, via investment from our Groundcover fund
The building was purchased in 2021 by a group of Black commercial real estate professionals who came together to co-invest.
Unfortunately, their development plans didn’t materialize and they reached out to us directly when they made the decision to sell, given our relationships, mission and the growth of 918 Dill Ave.
This milestone is an amazing step toward our “block strategy” approach, giving the Community Stewardship Trust two commercial and mixed-use buildings, plus the open parcels at this critical intersection of Dill Ave. and Sylvan Rd.
We are currently in the process of incorporating feedback from past codesign sessions and key community stakeholders into the plans for the space.
As part of our environmental assessment of the property, we discovered an underground fuel tank that appears to date back to the 1990s when a transportation company was located on the site. Soil and groundwater samples show that small amounts have leaked, but are limited to the immediate vicinity of the tank. In order to prevent more fuel leaks, we extracted the 800 gallons that remained in the tank and transported it to a regulated water treatment facility.
We’ve enrolled the property in the EPD’s Brownfield program, and have been working with a reputable remediation company and environmental attorney. We will continue to update along the way.
