Community Commons

• $1,000 + VIP invitation to grand opening and lifetime membership in Baltimore Community Commons with free or discounted programs and events
• $2,500 + 50% discount on one night stay in one of our beautiful furnished apartments + all of the perks above
• $5,000 + One free night in one of our beautiful furnished apartments + curated Baltimore gift basket + all of the perks above 
• $10,000 + Two free nights in one of our beautiful furnished apartments + “A Perfect Day in Baltimore” culinary and art tour + all of the perks above 
• $25,000 + Dinner with Andrew Yang and Stephen Dubner + a day of pampering with Harp Vision + all of the perks above
• $30,000 + Guest spot on Andrew Yang’s podcast + all of the perks above
• $50,000 + Name a space at The Mulberry (with installation by local designer of your chosen name and branding) + all the perks above

The vision for Baltimore Community Commons at The Mulberry is to provide a centrally located beautiful and welcoming community gathering space that will serve as a hub for the greater Baltimore community to come together and work toward building community wealth. The upper floors provide five furnished one bedroom residences designed to appeal to travelers and corporate relocation specialists that want to experience the charm of real Baltimore.
 

In October 2021, Opportunity Main Street, LLC (the “Project Entity”) acquired a building we call The Mulberry, located at 15 West Mulberry Street, Baltimore, MD 21201.  

The building is four stories tall, with a total of 6,525 s.f. (plus 1,877 s.f. unfinished basement) and contains five one-bedroom residential units on the upper floors and gathering, meeting, and office space on the first floor. The first floor tenant is planned to be Baltimore Community Commons, a nonprofit project of Community Ventures (a 501(c)(3) that has been in existence since 2008) whose mission is to build access to investment, knowledge, mutual aid, and community connection in Baltimore, making it possible for wealth to stay and grow locally. 

The upper floor residential units are planned as furnished residences targeted at the short-term rental and corporate housing markets.

The Issuer of this offering, OMS Management LLC (the “Company” or the ”Issuer”), will manage the building and own a preferred membership interest in the Project Entity.  

Building renovation began in July 2023. As the construction contractor, Apex Builders Group, began to work on the renovation, it discovered several issues that had not been revealed in the initial inspection, requiring change orders that increased the construction budget from $1.1 million to approximately $1.5 million. At that time, Apex Builders confirmed (in consultation with our structural engineer Walus Engineering) that it had uncovered all of the issues with the building so that no additional structural change orders would be needed. In October 2023, the renovations were paused due to insufficient funds. Renovation re-started in March 2025 under a limited scope of work including completion of mechanical, electrical, plumbing, fire suppression, and rough-in inspection.

To date, the following has been spent on the project (approximate amounts):

• Building purchase and purchase expenses: $675,000
• Renovation (construction contractor): $942,000
• Soft costs and consultants (architect, historic architects (for local and federal tax benefits), engineering, interior designer, miscellaneous consultants): $79,000
• Pre-development operating costs and miscellaneous expenses: $310,000

Additional funds need to be raised to complete the renovations and for furnishings and fixtures. Projected renovation costs have been increased to account for inflation due to the delay since construction began in 2023.

The property was appraised in June 2024 at $2.3 million as complete.

The current estimate for additional funds needed is approximately $1 million. However, it should be noted that it is possible the total construction budget will increase due to inflation beyond current projections since the last construction budget was provided by the contractor. Thus, we may need to raise up to $1.2 million or more. As noted below, a portion of this gap may be filled by one or more federal historic tax credit investors, but that is not certain at this time. Once sufficient funds are secured to complete the renovation, there will be approximately five additional months of work on the project (not including any additional time needed to ramp up if work needs to be paused again due to insufficient funding or for any other reason). We plan to open the building by July 2026. Note that all entitlements have been secured.

The Nonprofit Tenant: Baltimore Community Commons

Baltimore Community Commons ("BCC") is a project of a nonprofit organization exempt from tax under Section 501(c)(3) called Community Ventures. BCC will be the primary user of the first floor space at the Mulberry. BCC is a membership organization that promotes community investing, mutual exchange, knowledge sharing, and connection. BCC is a comprehensive model for building community wealth – one that might be replicated in communities throughout the U.S.
The three components of the program are

• The timebanking initiative: A mutual aid network that promotes the exchange of skills and services.
• The community business school: A hands-on business school focused on strengthening local economies.
• The community investment initiative: A program that helps local residents invest in local business.

The front two rooms on the first floor of the Mulberry are designed as a community living room for the hosting of community gatherings, workshops, performances, art exhibitions, and small business pop ups. We plan to offer healthy drinks and snacks as well as retail items provided by local makers. In the rear of the first floor there are additional meeting and workshop spaces available.

Jenny Kassan, the CEO of Opportunity Main Street, LLC and Manager of OMS Management LLC, is an attorney with 30 years of experience as a lawyer and ecosystem builder for equitable finance, social enterprise, and community economic development.

Jenny earned her law degree from Yale Law School and a master’s in city planning from U.C. Berkeley.

She was a project manager for the nationally renowned Fruitvale Transit Village in Oakland. She has managed several Community Benefits Districts and Main Street Programs. She has served her clients in the areas of entity structure, nonprofit-for profit hybrids, purpose trusts, cooperatives, securities law, and bespoke financing deals.

April and Tyron Harper are the Directors of Innovation and Impact for and co-owners of Opportunity Main Street, LLC.  In addition to their work on Opportunity Main Street, LLC, they own a Baltimore-based wellness social enterprise called Harp Vision. They have experience in finance, hospitality, customer service, and retail operations. Once The Mulberry opens, they will manage the hospitality and customer service operations on the first floor.

We have created a mathematical calculation based on our current assumptions about the Project's completion and operations and how free cash will flow through to the Class A investors in this offering in the event that we raise $550,000.

We estimate that net cash flow that will pass through to the Class A investors for the Project will grow from approximately $(40,845) in 2026 to $158,793 in 2034, when we anticipate a capital event for the Project.

Because the Project Entity already has preferred investors, the Issuer will own only a portion of the total preferred equity in the Project Entity. The Issuer will purchase its preferred equity at the same price that the earlier preferred investors paid.

While our current assumptions show that we only need to raise $550,000, it is possible we will need to raise more. This could happen if inflation affects the total project cost and if we are unable to secure a federal historic tax credit investor.

The final amount raised (less offering expenses) will be invested into the Landlord in exchange for preferred equity (on the same terms as the current preferred equity investors invested in the Landlord). The more we raise in this offering, the more equity the Issuer will own in the Landlord.

Because the amount of net cash flow we can generate from the project is relatively fixed, if we have to raise more than $550,000, the returns to investors are likely to be reduced.

Some of our assumptions will likely prove to be inaccurate for the reasons discussed above and for the reasons described in the Risks of Investing.  Therefore, the results of investing illustrated in our calculation are likely to differ in reality, for better or for worse, possibly by a large amount. Please also review the Company’s LLC Agreement for additional detail on how distributions will be made.
 

The total project cost is expected to be $3.1 million, which includes building acquisition, renovation, furnishings and fixtures, and pre-opening operating costs. To date we have raised $2.57 million of the total $3.1 million needed.  

Sources include:

• $1.19 million through preferred equity investments
• $667,000 through private lenders
• $310,000 in Donor Advised Funds (low-interest loans)
• $400,000 through Historic Tax Credit equity (this is still pending; see details below)

We've detailed the projected sources and uses for you in the table below.

Through this Regulation Crowdfunding offering we hope to raise the final $550,000 from the community at large.  

Note that the total project cost could increase due to inflation in the construction sector.

Investors will be paid from available cash flow and from a projected sale or refinance in 2034. The bulk of payments to investors will come from this liquidity event. Our plan is to achieve this via an “exit to community.” This means that we will either sell the building or sell the current investors’ interests to community residents and/or the business tenants occupying the building. See detailed cash flow projections here.

See also our mathematical calculation and the section “How this will work for you”, for further explanation on the flow of funds. 

Historic Tax Credits

The Project Entity team has worked with a consultant to apply for federal historic tax credits (“HTCs”) for the Project. Part 1 of the application has been approved, and Part 2 was recently submitted. If the Project is approved for HTCs, it is anticipated that these HTCs will be “passed through” to a newly formed entity (the “Master Tenant”) which will enter into a master lease with the Project Entity. The “pass-through” of the HTCs is accomplished by having the Project Entity file an election pursuant to the provisions of Section 50(d) of the Code and Section 1.48-4 of the Treasury Regulations. The Master Tenant would also have a 5% interest in the Project Entity.

If the Project is awarded HTCs and we are able to secure one or more HTC investors, the HTC investor(s) would own 99% of the Master Tenant. This enables the HTC investor(s) to use the tax credits on their own tax return(s). In exchange for this and for an asset management fee and an annual cash distribution, the HTC investor(s) is/are expected to invest approximately $400,000 into the Project to enable the completion of the renovation.

HTCs are allocated over a 5-year period. Once the HTCs have been allocated, the HTC investor(s) might exit its/their investment.

If the Project is approved for HTCs and tax credit investor(s) are secured, the Issuer would become a member of a yet to be formed entity called OMS Development LLC, a Delaware limited liability company (the “Developer”) that will be hired by the Project Entity to develop the Project in exchange for a Developer Fee, to be documented in a Development Agreement to be entered into by and between the Project Entity and the Developer.

If the Project is not approved for HTCs or if it is approved for HTCs but we are unable to secure an HTC investor, we will target a larger raise under Regulation Crowdfunding.

The Company (OMS Management LLC aka the Issuer) is engaged in a Regulation Crowdfunding (Reg CF) offering (the “Offering”) to raise money for The Project.

The Company is offering Class A preferred memberships (known as “Class A Shares”) for purchase to Investors. The Issuer has been formed to act as the Manager and will also be a Preferred Member of Opportunity Main Street LLC (the Project Entity). Substantially all of the proceeds of the offering (after reimbursement for offering expenses) shall be contributed by the Issuer to the Project Entity, in exchange for a Preferred Membership in the Project Entity, entitling the Issuer to distributions of cash flow and capital proceeds and allocations of profits and losses from the Project Entity.

We are trying to raise a maximum of $1,235,000, but we will move forward with the Project and use investor funds if we are able to raise at least $200,000 (the “Target Amount”). If we have not raised at least the Target Amount by 11:59 PM EST on December 31, 2025 (the “Target Date”), we will terminate the Offering and return 100% of their money to anyone who has subscribed.

The minimum you can invest in the Offering is $1,000. Investments above $1,000 may be made in $500 increments (e.g., $1,500 or $2,000, but not $1,136). An investor may cancel his or her commitment up until 11:59 PM EST on December 29, 2025 (i.e., two days before the Target Date). If we have raised at least the Target Amount, we might decide to accept the funds and admit investors to the Company before the Target Date; in that case we will notify you and give you the right to cancel.

After we accept the funds and admit investors to the Company, whether on the Target Date or before, we will continue the Offering until we have raised up to the maximum amount. Investments under Reg CF are offered by NSSC Funding Portal, LLC, a licensed funding portal.

You can also review the offering filing at SEC.gov.

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, Investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

There are numerous risks to consider when making an investment such as this one and financial projections are just that - projections. Returns are not guaranteed. Conditions that may affect your investment include unforeseen construction costs, changes in market conditions, and potential disasters that are not covered by insurance. Please review the Risks of Investing, for a more expansive list of potential risks associated with an investment in this Company.

Unless otherwise noted, the images on this offeirng page are used to convey the personality of the neighborhood in which the project is planned. Properties shown in these images are not included in the offering and Investors will not receive an interest in any of them.