Woodward Corridor Investment Fund
Revitalizing Detroit requires an “inside out” strategy. One that promotes projects that foster density, diversity, vibrancy, and walkability in the city’s core.
That is why we are bringing our focus to Woodward Avenue, Detroit’s “Main Street,” and heart of the motor city for decades. As home to some of Detroit’s largest institutions and employers, major medical and academic campuses and arts and entertainment venues, the area has a high demand for multi-income, mixed use and transit friendly housing options.
To meet that need, Capital Impact Partners, a certified nonprofit community development financial institution, has convened a number of local and national partners to launch the Woodward Corridor Investment Fund.
Through this $30 million Fund, we are able to offer long-term, fixed rate loans with competitive terms for the building and renovation of multi-family and mixed-use properties.
In addition to attracting residents and commercial activity, our goal is to create social impact by establishing a sustainable corridor model and expand economic opportunity for all residents.
Why build in Detroit’s Woodward Corridor?
- Bisects Detroit’s Midtown areas where occupancy rates are above 95 percent with continued high demand.
- Central hub to large employers, academic and medical campuses and entertainment venues.
- Fund partners committed to Woodward Corridor as anchor area of Detroit’s revitalization strategy
- Opportunity to build projects that deliver financial returns and create social impact
Advantages of borrowing through Capital Impact Partners:
- Ability to offer long-term fixed rate loans under terms not currently available through traditional financial institutions
- We serve as a single loan source, eliminating need for borrower to secure many layers of capital that can be time consuming and difficult to assemble.
- Streamlined process allows developers to commence construction more quickly.
- We are a mission driven organization that is committed to partnering with borrowers to ensure projects that are good for the city are funded.