2022 is a special year for us at Capital Impact Partners as it marks our 40th anniversary. Four decades of leaning into helping people build communities of opportunity and developing pathways to success.
And while this is an exciting time for us as we embark on a new strategy under Momentus Capital, it is equally important to remember our roots as a champion for the cooperative movement.
Oakland, Ca. is a vibrant place, a reflection of the multicultural communities within its borders. However, Oakland also experiences poverty, limited social services, and crime, which hold its communities back – particularly communities of color – from achieving their full potential.
Over the past several years, Oakland has seen an influx of residents as the demand for housing in the San Francisco Bay area has driven many people there, on top of the residents who already called the city home.
By Ashlee Cunningham, Senior Specialist, Housing and Community Development
In Detroit, long-term disinvestment in the city’s neighborhoods has led to unequitable barriers to opportunity. Systemic racism and disenfranchisement limited opportunities for many Detroiters, more than 80 percent of whom are Black. That has kept many people from securing equitable access to safe, affordable housing; starting businesses; and other pathways to wealth building. As Detroit has worked to overcome bankruptcy, investment in the city has compounded these issues by leaving people living with low incomes with little ability to keep up with the pace of growth and gentrification for the neighborhoods they have called home for decades.
Awards First “Challenge Grants” to Seven Bay Area Cities & Counties Leading Innovative Housing Efforts and $30 Million in Loans to Developers Producing and Preserving Affordable Homes
REDWOOD CITY, CALIFORNIA (February 4, 2020) – Bay Area elected officials, community, faith, and business leaders, and philanthropic funders marked the first anniversary of the Partnership for the Bay’s Future by announcing the recipients of the Partnership’s first-ever “Challenge Grants” to seven Bay Area local governments and nonprofit partner organizations that are developing innovative housing policies. The Partnership also announced commitments that will allow it to reach its $500 million investment goal ahead of schedule and has already closed seven loans to entities building new affordable housing or preserving existing affordable homes.
Community Development Financial Institutions (CDFIs) have been bringing investment to Detroit for more than two decades. The mission-driven approach and unique tools that CDFIs bring to the market have played a critical role in the development of new housing and community facilities like grocery stores and schools in the city.
By Ashlee Cunningham, Detroit Housing & Community Development Specialist
Long before Midtown Detroit—or Cass Corridor, as 39-year-old Wayne State University graduate and artist Rachel Barker prefers to call it—was booming with aesthetically pleasing coffee shops, hip art galleries and expensive retail stores, it was the neighborhood where Barker found the first apartment that she called home.
Each year at Capital Impact Partners, we host an offsite, where all staff comes together to discuss successes and challenges in our work, and strategizes how we can continue to commit to the communities that we serve for greater social impact. This year, we held our offsite in our backyard: Washington, D.C. Being a mission-driven organization, we also sought to live out our values and be “of” our Washington, D.C. communities by getting out from behind our desks and serving those who need the most support.
By Danielle Graceffa, Senior Director, Legal Services
Real estate development has always been a risky proposition, fraught with numerous challenges that must always be carefully balanced against the promise of reward.
Throw in the possibility of rehabbing historic properties and that risk-reward scenario is certainly amplified. The city of Detroit, where we have our Midwestern office, is a perfect example.
Founded in the 1700s, the city has witnessed various transformations, with Henry Ford setting the stage for Detroit to become the booming manufacturing center that it is best known as. During that time, the population swelled from around 200,000 residents to well over 1.5 million.
2016 was marked by change—both for the U.S. and for Capital Impact. Our country witnessed a transition in leadership and with it words and actions that have divided our country. Part of this division included the voices of many who felt the American Dream had passed them by.