Founder of New Black Wall Street in Atlanta, Bill Allen, has died

ATLANTA - The New Black Wall Street in Atlanta mourns the loss of businessman Lecester "Bill" Allen, who passed away last week at the age of 80. 

Allen founded the Black-owned market space by Stonecrest Mall, paying homage to the original Black Wall Street in Tulsa, Oklahoma. 

Organizers will share more about his legacy later this morning at a news conference.

The family released the following statement:

"Last week, our family was deeply saddened yet grateful to be alongside a truly remarkable businessman and passionate community servant as he passed at the age of 80.  As a staple and beloved figure by the constituents of Stonecrest, GA., Mr. Lecester "Bill" Allen was a pioneer and iconic businessman who served as an inspiration for countless entrepreneurs throughout the state of Georgia and across the nation.

Known locally as "The Wiz," Mr. Allen was a visionary who saw potential when others saw obstacles. He created a multitude of platforms for African American and minority entrepreneurs to build and grow their businesses, foster economic independence and develop community resilience. Most notably, he founded the New Black Wall Street Market, located in Stonecrest, Georgia with the goal of recreating and revitalizing the spirit of the original Black Wall Street in Tulsa, Okla. Mr. Allen also launched the Allen Entrepreneurial Institute, an organization dedicated to helping marginalized communities by connecting them to resources, mentorship and networking opportunities. As the largest commercial landowner in the City of Stonecrest he developed worldwide support on his initiative to rebuild the legacy of the New Black Wall Street and bring economic development to an entire City.

His devotion to African American prosperity has been unmatched. From increasing the number of minority- and women-owned establishments to contributing more than $100 million to students at Historically Black Colleges and Universities, Mr. Allen worked tirelessly to break down barriers, while also changing economic landscapes that ultimately led to increased visibility and more support for black-owned businesses.While the loss of our loved one is deeply felt, we are determined to run with his same spirit as his dream is truly becoming a reality.  Now is the time for an amazing shift and no stones will be left unturned until the words and ideas of this great man become the footprint of the City of Stonecrest, Georgia, "Ownership, Ownership, Ownership".

We'd like to thank our staff, friends, colleagues, metro Atlanta citizens and the entire nation as we all mourn and pay tribute to such a remarkable man."