Most Creative People in Business 2022: Ellis Carr, Momentus Capital
This year’s list of the Most Creative People in Business featured Ellis Carr, the president and CEO of the Momentus Capital branded family of companies, with an emphasis on Capital Impact Partners’ Equitable Development Initiative. For several years, this program has helped developers of color grow their businesses, overcome systemic racism, and create more affordable housing and other important real estate developments in Dallas, Detroit, the San Francisco Bay Area, and the Washington, D.C. Metro area.
Macy’s and Momentus Capital to Invest Millions to Fund Minority-Owned Businesses
S.P.U.R. Pathways: Shared Purpose, Unlimited Reach is a new initiative from Macy’s Inc. and Momentus Capital. The goal is to deploy $200 million to diverse-led businesses, including but not limited to the retailer’s suppliers. This innovative effort advances a longstanding Macy’s, Inc. commitment to underrepresented businesses and aims to galvanize the retail industry to invest in the next generation of entrepreneurs.
Capital Impact Partners and CDC Small Business Finance to create Momentus Capital to inclusively and equitably transform the financial services sector
Ellis Carr, president and CEO of the Momentus Capital branded family of companies, spoke with the AFRO, a Black-focused news outlet in the Washington, D.C. area. “Ultimately, our vision is to create a diversified, mission-driven financial services firm that provides communities with the opportunity to to build inclusive and equitable opportunities in their communities,” Mr. Carr said.
New Program Will Help Dallas Real Estate Developers of Color Create Affordable Housing
Capital Impact Partners’ Equitable Development Initiative has already been rolled out in three other cities—Detroit, metro Washington, D.C., and the San Francisco Bay Area—training more than 200 developers of color since 2018. Now it’s landed in Dallas with funding support from JPMorgan Chase & Co. and Charles Schwab Bank.
Dallas developers of color find access to capital through inaugural initiative
There are too few real estate developers of color in Dallas — and not enough affordable housing. Capital Impact Partners expanded its Equitable Development Initiative into Dallas in 2022 to tackle both issues by providing emerging developers of color with training, mentorship, and access to capital. This article speaks to two graduates of the first cohort and spotlights how this will help their businesses and their communities.
Read More (article reprinted by the Garland Journal)
Leveraging National Presence and Scale to Drive More Solutions for Local Challenges: Q&A with Momentus Capital President & CEO Ellis Carr
Ellis Carr spoke with IFF, a fellow mission-driven lender, to talk about several major announcements that the Momentus Capital branded family of companies made in 2022, as well as some upcoming initiatives.
Capital Impact Partners Welcomes 15 Local Developers of Color Into New Accelerator Program
The Housing Equity Accelerator Fellowship is funded by a grant of more than $5 million from the Amazon Housing Equity Fund and is intended to increase the number of real estate developers of color in an industry where they are underrepresented — and help to grow the affordable housing stock in the Washington, D.C., region.
Wells Fargo Foundation awards $40 million for equity in real estate
The Growing Diverse Housing Developers initiative is working to expand the growth and success of real estate developers of color. The initiative includes a collaboration between Capital Impact Partners, Low Income Investment Fund, and Reinvestment Fund that will provide a cohort of housing developers of color in several regions with access to capital and resources to advance their development pipelines and grow their business.
On Her Own ‘Merritt’: Developer Among 39 Chosen For $40 Million Wells Fargo Grant
Gina Merritt — the developer and founder of Northern Real Estate Urban Ventures — was one of the 39 developers participating in Growing Diverse Housing Developers, an initiative co-led by Capital Impact Partners. “This is a humongous opportunity for me,” said Merritt. “The program is also going to create real estate products, and other balance sheet products that will help support developers like myself, who have been able to work in the industry, and manage projects, but don’t have the friends and family money that our white counterparts have.”