RENASCENCE EQUITY VENTURES JOINS HIP HOP HALL OF FAME MIDTOWN MANHATTAN JV DEVELOPMENT ON HOTEL, RESIDENTIAL, RETAIL & ENTERTAINMENT VENUE WITH NY SPACE & TECH INSTITUTE

THE MINORITY AND VETERAN LED FIRM SETS ITS $400M PRIVATE PLACEMENT EQUITY OFFERING TO GO LIVE WITH CAPITAL AND INVESTMENT FIRMS IN MAY 2022 AFTER PRE-SALE PERIOD TO EXPAND ITS MIXED-USE HOTEL & RESIDENTIAL REAL ESTATE ACQUISITIONS, DEVELOPMENT AND BUSINESS PORTFOLIO

NEW YORK, March 29, 2022 /PRNewswire/ -- Renascence Equity Ventures, a veteran and minority led firm, has agreed to join the Midtown Manhattan JV development team to build the Hip Hop Hall of Fame (501c3), a Hotel, Office, Residential, Retail, and Entertainment Complex that also features a new NY Space & Tech Institute.

The new Space, Tech, Arts, Research & Science Institute (NY STARS Institute) will train New Yorkers and underserved students communities for future jobs, careers, and entrepreneurship with STEAM educational programs in computer coding and web3 technologies, space exploration, environmental tech studies, arts & multimedia production, business incubator and accelerator to keep NYC at the forefront of developing new talent and creating opportunities for a new business development hub in the city and state for the coming advanced technological and environmental economies and challenges of the 21^st century. 

The planned Midtown development is a 1.4M square foot 50 story tower that will be designed by SOM Architects adjacent to the Empire State Building, Madison Square Garden and Penn Station as part of the new infrastructure and transportation economic revitalization plans recently unveiled.

Renascence JV ownership group is preparing for upcoming meetings with Local, City, and State Agencies and officials to be a community friendly and inclusive project and be granted the final approvals for development as the group already owns an estimated seventy percent of the site. The Midtown project is estimated to generate over $1Billion annually in socio-economic impact and return on the investment to the local community, City, State, and Tri-State area in B2B, local Businesses, Cultural Arts, Education, Entertainment, Hospitality, Tourism, and Housing sectors in a community friendly development when it opens.

Renascence Equity Ventures seeks likeminded diverse partnerships from all sectors of the economy to create new generational wealth, business and career leadership development opportunities for New Yorkers and in other Metropolitan Urban Communities around this great country stated, JT Thompson, CEO, who is also the Creator/Executive Producer of the Hip Hop Hall of Fame Awards TV Show that first appeared on BET Network in the early 1990s, and who serves as the Founder of the Hip Hop Hall of Fame project and Co-Founder of the Space & Tech Institute (STARS).

Renascence Equity Ventures Corporation has moved forward with its plans to build a national owner operated commercial real estate and entertainment tech company as it moves forward with its inaugural first round $400M private placement equity offering. The private IPO offering funding round is expected to go-live to the marketplace in May 2022 for accredited and institutional investors after pre-sale period ends.

The firm will utilize the new round of equity capital funding to expand its commercial real estate portfolio, operations, staff, partnerships, marketing, and tech capabilities to scale its businesses with quantifiable value propositions and proven industry growth strategies.

Renascence has already targeted its first mixed use hotel and residential retail properties in New York and has moved to acquisition agreement on a Florida property. The firm is in various stages of negotiations on three other major development sites that include New York City, Los Angeles, and Atlanta to be acquired with capital raised from the offering that will include new hotels, affordable housing, retail, and entertainment venues as it explores other commercial real estate development opportunities through public and private partnerships for much needed affordable housing and community cultural spaces.

The "Renascence ownership has an all-star development team and operational management partners who have developed, owned and operated major commercial real estate office buildings, hotels, residential apartments, retail and hi-rise development projects." says David Gray, Corporate Communications.

In the meantime, the Hip Hop Hall of Fame will open the Hip Hop Café ™ & Interactive Gallery in its new Harlem location in early 2023. The hip-hop themed Hard Rock Café styled venue will include the Restaurant, Concert Lounge, an Interactive Hip Hop Museum Gallery with AR/VR/Web3 Exhibits & Memorabilia, and a Hip Hop Arts & Tech Educational Academy for students.  

The flagship Hip Hop Hall of Fame Awards TV Show 'Induction Ceremony & Concert' will return later this year and is in negotiations with television networks as the show will also be broadcast on television and in the Metaverse.

Renascence plans to operate its brand as a contemporary and technologically enabled value creative portfolio of companies with unique properties, and endeavors to systematically drive expansion through these types of real estate acquisitions and development projects, entertainment, and tech properties, and with the advancement and training of an exceptional executive leadership team and staff that is being assembled from all sectors.

The Equity Offering, made on a best-efforts basis, and the first round is estimated to have maximum gross proceeds up to $400 million in shares of stock to be announced, as round one of the scheduled four rounds of its $3 billion capitalization, growth, and expansion plan. More details of the offering and its filings will be released in the coming weeks.

This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful.

SOURCE Renascence Equity Ventures Corp