Sixty Four & Hope will open its second of 21 planned dispensary locations in South Los Angeles.
The second location will open to the public Dec. 20 in LA’s Melrose District.
Each Sixty Four & Hope business is owned by social equity cannabis licensees from South Los Angeles, with the goal to open all 21 locations by summer 2023, according to a company release.
The Sixty Four & Hope dispensary concept, named after Proposition 64, which legalized adult-use cannabis in California, was developed to provide economic opportunities to those affected by the war on drugs. Each of the 21 planned business is developed with the goal of increasing each licensees’ income from $46,600–below the poverty live in LA–to more than $450,000 annually, while also creating 30-plus jobs with benefits.
Funding for the businesses comes from a range of celebrity investors, including Queen Latifah, Nas, Troy Carter, Julius Erving III and Anthony Selah, who raised a combined $19 million.
