Check out the newly opened Bmore CoLab financial empowerment space in downtown Baltimore

A new downtown Baltimore space that’s gathering financially focused organizations to empower entrepreneurs and address community challenges is officially open.

Bmore CoLab celebrated its grand opening on Thursday at the corner of Calvert and Lombard streets, a high-profile address that’s long caught the eye of those passing by in the city’s business district.

T. Rowe Price Foundation, which provided grant funding, and CASH Campaign of Maryland partnered to open the 3,000-square-foot space, which was previously a T. Rowe Price investor center. The Baltimore-based asset management firm donated the space.

CASH Campaign of Maryland, which focuses on financial wellbeing for low- and moderate-income residents, will serve as the lead among organizations at the space. Bmore CoLab also has offices for Baltimore nonprofits including neighborhood-level entrepreneurship network Innovation Works, micro-lending organization KIVA Baltimore and Mission: Launch, which works to provide economic opportunity for returning citizens.

With four organizations housed together, it’s also designed to fostering collaboration among the folks who are helping the community, with an aim of spurring new approaches.

“We are fortunate to partner with amazing local financial empowerment organizations who have the expertise to make a big impact and just need additional resources and infrastructure to expand their services to our innovative small businesses and entrepreneurs in the Baltimore community,” T. Rowe Price Foundation President John Brothers said. “We know that a strong local economy and financially stable households benefit the entire community.”

It’s designed so that entrepreneurs and small business owners — even those who are aspiring — can meet with the nonprofits to get assistance with starting or growing a business. The space also includes a classroom that the organizations will use for training and technical assistance workshops, and it has a family space that was designed in collaboration with Junior Achievement.

Check out some photos of the space: