Mayor Bruce Harrell, along with the Seattle Office of Economic Development, Grow America, and JPMorgan Chase, gathered to celebrate the grand opening of Marjorie’s Restaurant at Midtown Square on 23rd and Union. This event marked a significant milestone for the city as it showcased the success of their first-in-the-nation small business funding model.
Marjorie’s is one of two businesses that have opened in new commercial spaces through investments from the Business Community Ownership Fund (BCO Fund). This fund was created to support local business owners like Donna who want to stay rooted in Seattle without worrying about rising rent costs or potential building sales. Mayor Harrell expressed his enthusiasm for this program stating that it allows entrepreneurs to focus on growing their businesses instead.
Originally established in 2003, Marjorie’s restaurant quickly became a beloved spot in Capitol Hill neighborhood. Unfortunately, due to economic challenges brought on by COVID-19 pandemic closures forced its closure. However now thanks to OED and Grow America launching BCO Fund with an $870k grant from JPMorgan Chase combined with a $20 million investment has allowed them reopen their doors once again but this time at a new location within Seattle’s Central District community.
This initiative aims not only help small businesses thrive but also address issues such as displacement caused by escalating commercial rents across different neighborhoods throughout Seattle area.
