Projects
Project: Hatch! An Innovation Incubation Lab
Phase 1: $1- $1.5 M small-scale cargotecture transitional structure
Phase 2: $4- $12 M ~34,000 sf mixed-used retail, office, and community facilities including workshops, labs, and more
Location: Burnside Bridgehead (tbc)
Partners:
- The motiveSpace Coalition
- Springboard Innovation
- Seeking 3 local business neighbors!
Project Overview:
In an effort to activate social innovation, entrepreneurship, strengthen our cooperative economy, and to use building as true community building, the motiveSpace Coalition is leading pre-development planning for Portland’s first entirely cooperatively-owned and micro-financed space-share opportunity. More than offices, retail studios, or workshops, the Hatch! Lab will provide an environment of creative excitement, hands on research and experimentation, and collaboration across discipline.
Proposal:
The founding partners for the Hatch! Lab are seeking three locally-owned businesses to pilot an innovative financing program which supports the development of the project. In exchange for participating, the businesses will receive investment shares in the completed project, and will be welcome to discuss the benefits of co-locating in the Hatch! Lab after construction.
Financial Structure:
MotiveSpace’s Community Asset Fund (CAF) Program will be used to offset traditional financing in the project. The project team will also seek traditional financing for any remaining budget shortfall after a 2 year capital campaign. We project that between 50 – 70% of the final project budget can be raised through the CAF Program.
‘Micro-financed’ means that motiveSpace will begin selling low-cost shares for the project, in late September 2009. ‘Cooperative’ means that everyone is welcome, and that all participants in the project – whether that means contributions of time, materials, services, or labor – will have the option of owning a piece of the project at the end! At this stage in the Hatch! Lab’s deveopment, the Project Team welcomes sweat equity investments in the Project — please ask to review this Project’s Draft Capacity Inventory, to see if you might be an early match for the project team.
Member Benefits:
Every Portlander purchasing “seedShares” in the Hatch! Lab will receive:
- Access to online elections guiding the life of the project
- Discounts on products sold (or developed!) in the Hatch! Lab
- Discounts on services provided in the Hatch! Lab, forthcoming
- Access privileges to Project Events and the Hatch! Lab facilities
- Other benefits under development
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