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Chris Webber to Open $175M Cannabis Wellness Center in Detroit

Scott Polacek@@ScottPolacekFeatured Columnist IVSeptember 28, 2021

SPRINGFIELD, MA - SEPTEMBER 11: Chris Webber speaks to the audience during the 2021 Basketball Hall of Fame Enshrinement Ceremony on September 11, 2021 at MassMutual in Springfield, Massachusetts. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2021 NBAE (Photo by Nathaniel S. Butler/NBAE via Getty Images)
Nathaniel S. Butler/NBAE via Getty Images

Chris Webber is investing in his hometown.

According to Adrienne Roberts of the Detroit Free Press, the Hall of Famer broke ground Tuesday on the Webber Wellness Compound. The 180,000-square-foot, $50 million facility located in Detroit will serve as a cannabis "compound" and feature a marijuana operations and training facility, a cultivation facility, a dispensary and a cannabis consumption lounge.

Roberts noted the first phase will be done by March with the second one eventually expanding it by 80,000 square feet and totaling a $125 million investment.

"Tuesday's announcement represents the first tangible step after a $100 million private equity cannabis fund was launched in February to invest in Black- and minority-owned businesses and brands in the cannabis sector," Roberts wrote. "Webber, Willis and Jason Wild of JW Asset Management, a hedge fund with more than $1 billion in assets under management, launched the fund."

Webber was born in Detroit and attended high school in the area.

He remained in the state of Michigan when he played collegiately with the Wolverines and went on to a dominant career in the NBA that included stops on the Golden State Warriors, Washington Bullets/Wizards, Sacramento Kings, Philadelphia 76ers and Detroit Pistons.

He was elected to the Basketball Hall of Fame as part of its 2021 class.