It’s learn by day, party by night for REM5 — a new virtual-reality center opening in St. Louis Park later this year.

The 8,000-square-foot center being launched by Amir Berenjian and Travis Hoium will feature a lounge space and several semi-private virtual reality lounges with the business focusing on entertainment offerings, drinks and food at night, and partnering with local schools for educational programs during the day. Construction on the space, at 4950 W 35th St., is set to begin in July, handled by Minnetonka-based Kalcon Commercial Construction, and REM5 is tentatively set for a mid-September opening.

Minneapolis-based Shelter Architecture is handling the design of the space, and Colliers International helped the two find the location. They are seeking to raise $200,000 in financing, with $60,000 secured, according to a May SEC filing.

Berenjian said otherfunding was coming from themselves, friends and family, as well as the Wells Fargo small business administration lending program. “The real gap in the market is nobody is bringing VR to people,” Hoium said.

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