Former NBA star Chris Webber opening $175M cannabis ‘compound’ in Detroit
Former NBA star Chris Webber announced he’s opening a multimillion-dollar cannabis “compound” in his native city of Detroit, the Detroit Free Press reported.
The Webber Wellness Compound, which officially broke ground on Tuesday, will include marijuana operations and a training facility, a cultivation facility, a dispensary and a cannabis consumption lounge.
Job training and placement program Cookies U will run the compound’s training initiative, which will train students for various jobs including selling weed and cultivating marijuana.
Webber, who attended the University of Michigan, also said that record expungement offices will be included in the facility for those who are in need of services, according to the Detroit newspaper.
The compound is owned by Players Only Holdings, a business co-founded by Webber and entrepreneur Lavetta Willis.
Webber, who was recently enshrined in the Naismith Memorial Basketball Hall of Fame, told the Detroit Free Press that the compound is his new mission.
“This is my biggest priority in life,” Webber said. “I’ve seen who [Willis] and I have helped across the country and the lives that have been disrupted by cannabis. Hopefully, we can do a little bit of repairing. Hopefully, we can help the city.”
This comes after a $100 million private equity cannabis fund, created by Webber, Willis and Jason Wild of JW Asset Management, launched in February to help invest in business and brands in the Black community.
The $50 million, 180,000-square-foot facility will need to be expanded by 80,000 square feet by March 2022 to complete the first phase of construction, which represents $125 million in investments, the Detroit newspaper noted.