NBA Hall-Of-Famer Chris Webber Launches $50M Cannabis Operations And Training Facility In Detroit's Corktown Neighborhood

NBA Hall-of-Famer Chris Webber, entrepreneur and co-founder of the Webber Wild Impact Fund, on Tuesday, launched Players Only Holdings, a new $50 million-dollar cannabis operations and training facility in Detroit's Corktown neighborhood.

Players Only, a black-owned business co-founded with entrepreneur Lavetta Willis, is focused on four business segments – 1) real estate development, 2) cannabis cultivation, 3) brand partnerships, and 4) creative content development and management.

What happened 

The state of the art 180,000 square foot Players Only Facility will feature a 60,000 square foot cultivation, an 8,000 square foot dispensary and a private cannabis consumption lounge.

At the groundbreaking, Webber also confirmed the expansion of Cookies U into Detroit and an exclusive distribution partnership with leading Michigan operator, Gage Growth Corp. (OTCPK: GAEGF), for Players Only branded cannabis products.

The Webber Wellness Compound will be located at 2599 22nd Street, near Michigan Avenue and the Fisher Service Drive in Detroit's Corktown and Southwest Detroit neighborhoods. Construction is slated to begin this Fall with first phase completion expected in March 2022.

Why It Matters 

The business is expected to create hundreds of new jobs in the Detroit metro area over the next three years. 

The Cookies U training program is a high-impact, hands-on educational experience that will recruit students from minority and underrepresented communities. The comprehensive "no fee" educational curriculum is aimed at job training and job placement in the cannabis industry.

"This will be the shining jewel of Michigan. Everything great in Michigan starts in Detroit, and I am excited to collaborate with Gage to bring our premium line of Players Only products to this community," Chris Webber said.

“We will create, foster and provide a cannabis ecosystem that celebrates diversity, creates jobs, and benefits this community – focusing intensely on those who are being left behind. As social equity programs struggle in many states, we are here to support legacy operators who created the foundation for this industry so that they are included in future iterations of it while we wait on the politics to catch up."

Fabian Monaco, CEO of Gage Growth Corp. noted that Webber has the same vision of what the cannabis business community in Michigan should be. “We are proud to work hand in hand with the Players Only team to not only facilitate attractive consumer experiences but also provide future entrepreneurs of color with the tools to create generational wealth,” Monaco concluded.

Photo: Courtesy of GV Chana on Unsplash