Get to know Lanre Ajakaiye and 25 Bough St.

Your name: Idrees (Lanre) Ajakaiye
Public Benefit Corporation name: 25 Bough Street
Website: https://www.25bough.com/
Facebook: https://www.facebook.com/25boughstreet
Instagram: @25boughstreet
Other: Regulation CF – Crowdfunding Campaign

25 Bough Street - Transforming A Vacant Commercial Building into A Community Empowering Gem (Narrated)!! from 25 Bough Street on Vimeo.

1. Tell us about your public benefit corporation’s mission.

The mission for the 25 Bough Street Initiative spans education, career awareness, health & wellness and financial empowerment for youth and the community at large. The 25 Bough Street development will transform and re-develop a currently blighted property -in what was once a thriving jewelry manufacturing hub in the historic Olneyville section of Providence, Rhode Island -into a multi-purpose, community-anchored facility providing spaces for youth education and empowerment, entrepreneurship, and celebration of life events. The building spanning 15,194 square feet will support five, integrated uses which create an overall experience that most in the family can enjoy.

 2. Is there a story behind your organization’s name?

25 Bough Street is the street where the building is located. There is no story to the naming although there is a story to the founder and his acquisition.   For the founder, this area is one of the first that his parents lived in fresh from a new country. Born in Providence, Rhode Island, he is a native growing up less than a mile from the building, attending kindergarten in the area at Nickerson house and then elementary at St.Mary’s on Barton street where he would graduate before going to Classical high school.

3. How long has 25 Bough been operating in Rhode Island?

25 Bough Street was acquired in September 2020. The development will be completed in 2022 to Q1 2023.

4. Who would use your services?

The user base will be multi-generation including both young and adult audiences utilizing:  co-working for freelancers, entrepreneurs and innovators, multi-purpose function and events hall for things like 40th and 50th birthday parties, corporate events and quinceañeras, retail spaces, athletics facility for health and wellness. 

5. How is the need specific to Rhode Island?

The use cases of 25 Bough Street directly map to things we must do better as a community and state across youth, women and overall.  Towards this end, there are use cases across financial literacy to be taught by the Financial Literacy Youth Initiative and career awareness connected to workforce gaps, STEAM (science technology engineering arts and mathematics) focus with an XR lab by Winner’s Circle doing augmented, virtual and mixed reality.  Additionally, it will have a cultural experience museum allowing the rich history of Rhode Island across so many wonderful cultures to live and breathe.

6. What is your role in the organization?

I am the founder and visionary behind the 25 Bough Street Development. My role is to change futures and social impact is my KPI.

 7. What do you love about what you do?

As a social entrepreneur, 25 Bough Street allows me to work on commercial development which balances with community benefits.  The approach I am taking is community up meaning allowing the community to partake and have input early on.  Moreover, when it’s all said and done, I believe I will be able to bring the community to the area in a way that has not been done in that corridor for families.  What I love about what I do is that ultimately I will transform and positively impact lives and a whole area.

8. How do you fundraise for your activities?

I am the 1st in New England to be approved under Reg CF to crowdfund real estate. This provides the community a way to directly support, be apart of and drive the transformation.  The other methods are traditional avenues of fundraising leveraging good old fashioned hardwork and communication connected to a genuine mission and goal.

9. How can I {heart} Rhody readers help?

Spread the word, invest and share the content. Be a part of it by going to:  https://wefunder.com/25boughstreet

10. What do you {heart} about Rhode Island?

Rhode Island is a special state steeped in rich history and cultures. There are simply not too many places where you can be immersed in the blend and mix we have here.

11. Please include anything else you’d like to add:

It’s up to us to create the changes we want to see in our cities and broader state of Rhode Island. With will, determination, desire and drive working together.