-
New York took another step toward launching its adult-use cannabis program while supporting social equity applicants with the announcement that firms were selected to design and build dispensaries.
The New York Social Equity Cannabis Investment Fund LP, in conjunction with the Social Equity Servicing Corp., a Dormitory Authority of the State of New York subsidiary, awarded bids to 10 teams to develop roughly 150 turnkey sites across the state for recipients of Conditional Adult-Use Retail Dispensary Licenses from the New York State Office of Cannabis Management.
The teams of firms chosen include:
SESC is currently working to identify sites that will be leased by the fund’s operating subsidiary and subleased to the dispensary operators.
The process is expected to continue through 2023.
When development will start, however, remains up in the air. The U.S. District Court of New York issued an injunction against the state, preventing it from issuing its first licenses to social equity applicants in certain regions while a case against it makes its way through the court.
The next OCM meeting is slated for Monday, Nov. 21.
New York Fund Selects Firms to Develop, Build Dispensaries for Social Equity Licensees on Green Market Report.