(Minneapolis, MN) — April 5, 2023 — Gloria Freeman, an award-winning local small business owner, has purchased the classic mixed-use property at 2309-2329 Hennepin Avenue with the intent of turning the former Red Savoy’s Pizza space into House of Beauté Atout (HOBA), a salon suite company. Salon suite companies offer beauty and wellness professionals the opportunity to lease a private suite to operate their own business without the expense and risks associated with long-term leasing or owning a commercial building.
The building is located in the highly visible East Isles Neighborhood in the north end of Uptown with many complementary businesses nearby. HOBA salon suites will be the south end anchor tenant in the building, which also hosts six other tenants: Autopia, The Café Meow, Pizza Hut, Studiiyo23, One21 Barbers and Fit 1st Running. Atop the commercial space, are 11 apartment units, also owned by Freeman.
After months of searching for the right property and financing team, the building purchase came together with the support of the City of Minneapolis Commercial Property Development Fund, MEDA and Falcon National Bank. Gloria, who is an African American woman with over 20 years of entrepreneurial success to her credit, said, “When I closed on the building in November 2021, it was a decades long dream come true. It’s no small feat for a Black woman to be able to purchase significant commercial property given the commercial property ownership inequities in Minneapolis. Financing simply isn’t as accessible for us.”
As HOBA nears the final stages of a complete renovation, Freeman is gearing up for an April 2023 grand opening. The two-level space boasts 9 spacious suites in total, with 4 hair salon suites on the main level and 5 treatment suites on the lower level for other beauty and wellness businesses. HOBA offers a luxe aesthetic with ample suite square footage and high-end finishes. “I wanted to create an upscale space that suite owners look forward to working in everyday and a place where their customers can enjoy up to a full day of self-care services.”
In addition to launching HOBA, Freeman is planning to add an additional 24 apartment units and a parking ramp to offset the anticipated loss of Hennepin Avenue metered parking.
Currently, HOBA seeks the following potential tenants: hairstylists, massage therapists, estheticians, cosmetic nurses, acupuncturists, tattoo artists, lash artists, and other beauty and wellness professionals with established clientele. To learn more about HOBA, its grand opening or leasing a suite, visit the website at www.hobampls.com, follow HOBA on Instagram @hobampls, or email firstname.lastname@example.org.