The Mayor’s Office of Neighborhood Services held a meeting Tuesday to discuss the proposed establishment of a new recreational cannabis dispensary at 331-335A Newbury St. in the Back Bay.
Boston residents discussed Rooted in Roxbury’s proposed Newbury Street cannabis establishment in a virtual community meeting Tuesday. VIVIAN MYRON/ DFP FILE
The proposal comes from Rooted in Roxbury, a local minority-owned cannabis company that was formed in March 2019. Although Newbury Street hosts tobacco and pipe retailers, there are currently no dispensaries on the strip.
“About five years ago, as we realized that legal cannabis was on its way to Massachusetts and the city of Boston, we came together to develop a plan that could prevent Big Pharma and out of state corporations from coming into our neighborhoods to profit from legalization,” said Brian Keith, co-founder and co-owner of Rooted in Roxbury, during his presentation.
He added that the company was founded with the goal of giving people of color “a seat at the table” in the cannabis industry.
Keith said capital investments in the business were offered starting at $1,200, and the company capped the investment level at $62,000 to prevent wealthy investors from buying disproportionately high numbers of shares.