Inspired by brother's memory, South Florida man finds solutions to support local businesses
MIAMI - A grieving Liberty City business owner carries on his younger brother's legacy.
"Danny had a vision," said Phillip Agnew. "He never stopped up until that last moment."
A violent car crash on I-95 in Miami last summer claimed the life of a South Florida activist, Daniel Agnew.
Now, Phillip helps take the lead in finding solutions to support local businesses displaced throughout Miami due to rising rents.
CBS News Miami's Joe Gorchow spent time learning of a solution to help small business owners avoid the boot.
The Agnews always dreamed of owning commercial real estate instead of renting out space to run their business ventures in Liberty City.
"We got booted out," recalled Agnew about rented spaces for his businesses. "I think that's the story of a lot of people in Miami landlords are taking the rent up to stratospheric levels."
"Danny Agnew brought to my attention that people are being booted out from their spaces because of unaffordability," shared Brittany Morgan, who is the senior director of economic resilience at the Miami Foundation.
She knew Daniel well before he died and witnessed the Agnews' mission.
"While he's no longer with us to be able to live on through his legacy of ownership," said Morgan. "Small businesses are more likely to give back to their community, and they also create generational wealth for their families, especially minority small business owners."
A solution came to light: create a path for minority-led small business partnerships to buy real estate instead of rent in some of Miami's historically underserved communities. She says the Miami Foundation partnered with Wells Fargo to provide grants up to $500,000 for the purchase price of a forgivable loan.
"Invest money in leaders who have been doing work in the communities for decades," said Morgan.
Agnew said, "This is gonna be a huge picture window right here where you'll be able to look in and see rows and rows of books."
Angew and his business partners received grant funds to buy this building in Liberty City. They plan to open their bookstore later this year.
Gorchow asked Agnew, "How much pride do you have knowing this is yours?"
Agnew said, "I mean, you know, I'm speechless. A whole lot of pride to know that this is ours, and it's gonna be ours for a very, very long time."
A store inspired by Daniel's dreams.
"I think somewhere, wherever he is, whether we believe heaven or just floating around in the ether, he's right now telling me I told you," said Agnew.
The Miami Foundation hopes this initiative will help protect the cultural fabric in places like Liberty City, Allapattah, Overtown, and other local communities.
Morgan says the Collective Real Estate Ownership program through the foundation is accepting applications through April 15th.
Click here to see if you qualify and wish to apply.
