A landmark building that’s under renovation in Downtown Belleville will host more than just apartments.
Loyalist College announced Wednesday that it has partnered with the Downtown District BIA and property owner Bruce Firestone, to open a Downtown Belleville Business Accelerator on the ground floor of the former China Gate building on Front Street. Firestone tells Quinte News the 2,800 square foot centre will be the perfect place for Loyalist students and other entrepreneurs in the community, to share ideas and push their projects forward.
“It’s really, fairly casual. You’ve got some meeting rooms, some meet-up areas and some private offices but most of the space is long tables, benches and comfortable chairs, that sort of thing. You mix in together and if you want some privacy, you put your headphones on and focus on your work, or if you’re willing to socialize you do that.”
He says there is also a proposal to build a small apartment attached to the business centre, which he hopes to fill with an “entrepreneur-in-residence”, who could help to mentor and guide budding business owners.
“Probably the most important component of the whole thing is the entrepreneur-in-residence. Startups that are coached, mentored, taught and shepherded along, really grow must faster and have much higher survivorship rates.”
Firestone is hoping that between the potential “in house” apartment and other residential opportunities in the downtown, they’ll be able to attract a stable of entrepreneurs who will move to the city to live and work.
Loyalist President Dr. Ann Marie Vaughan says the accelerator centre is just another way that the college is engaging and supporting business growth across the Quinte Region.
“We’re helping and supporting our students and alumni that also want to be entrepreneurs, so we can create and support business growth and economic development for the region as a whole. That’s core to what Loyalist’s role is in the community. It’s about job creation. It’s also about business development, and economic and social growth for the region.”
Vaughan says more details on how to rent and access the space will be announced closer to when the centre opens in October of 2021.
She says the hope is that students and graduates will be able to take ideas that they’ve developed at school, incubate and grow them at the accelerator centre and eventually move those ideas to full-time shops and businesses in the downtown core.
Meanwhile, Downtown District Executive Director Luisa Sorrentino says the accelerator centre is the perfect fit for the continued redevelopment of the heart of the city.
“We know that this will help create new partnerships and synergies, so that we can ignite new business investments, as well as reinvigorate the existing business and property owners to become even more engaged champions for our vibrant downtown community.”
Sorrentino also credited former Downtown District head Marijo Currier with laying the groundwork for a project like this and hopes the accelerator will diversify the types of businesses that operate in the city centre.