Amazon commits more than $5 million to new program to grow opportunities for real estate developers of color in Arlington, Virginia and the broader Washington, D.C. Metropolitan region
Arlington, VA (December 8, 2021) – Capital Impact Partners today announced a grant of more than $5 million from Amazon to launch an initiative focused on accelerating new opportunities for emerging real estate developers of color while also increasing affordable and workforce housing across Arlington, Virginia and the greater Washington, D.C. metropolitan region. This funding is the most recent commitment from the more than $2 billion Amazon Housing Equity Fund, which was established to preserve and create over 20,000 affordable homes in Amazon’s hometown communities–the Puget Sound region of Washington state, the Arlington, Virginia region, and Nashville, Tennessee.
Organizations will work with local partners to help small business owners of color recover and emerge from the COVID-19 pandemic
Arlington, VA | San Francisco, CA | San Diego, CA (November 30, 2021) – Capital Impact Partners and CDC Small Business Finance announced a $1.5 million grant from Wells Fargo to launch an initiative focused on providing targeted business training services to small real estate developers and entrepreneurs of color. The grant will also help accelerate re-development efforts in D.C. and the Delta through a focus on small real estate development businesses and other industries that bring needed housing, amenities and jobs. The funding is made possible through Wells Fargo’s Open for Business Fund, a roughly $420 million small business recovery effort across the U.S to help small business owners recover and emerge from the pandemic even stronger and more resilient.
(DETROIT, MI/ARLINGTON, VA – October 21, 2021) Capital Impact Partners, a mission-driven Community Development Financial Institution (CDFI), is celebrating 10 years of working with Detroit. The company also marked a milestone of $300 million in investments to expand economic, social and racial justice for underestimated communities through an inclusive growth strategy.
This year’s award supported five organizations, including Collective Remake, Cooperation Humboldt, Co-op Cincy, Co-op Dayton, and Custom Collaborative
Arlington, VA (September 29, 2021) – In the wake of the COVID-19 pandemic, along with increased visibility of racial violence and inequity, cooperatives have demonstrated their continued ability to promote resiliency and growth toward shared prosperity for communities.
The seventh annual Capital Impact Partners Co-op Innovation Award – which aims to increase co-op development in communities with low incomes and/or communities of color – focused on supporting organizations that are expanding education about the cooperative model in the face of the twin pandemics of COVID and racial injustice.
Innovative Program Provides Critical Training to Help Developers of Color Overcome Systemic Issues and Spearhead Affordable Real Estate Projects
September 22, 2021 (Oakland, CA/Arlington, VA) – While there is a critical need to address the San Francisco Bay Area’s housing crisis in a way that supports racial and economic inclusion, developers who identify as racial or ethnic minorities are severely underrepresented in a market dominated by large global and national firms. In an effort to help solve this crisis, Capital Impact Partners announced the expansion of its Equitable Development Initiative (EDI) into the region to help local real estate developers of color who represent the region’s diversity take a leadership role in shaping the development landscape within the local context. These developers have historically faced significant barriers to entering the real estate industry due to the lack of access to capital, equity, and experience resulting from generations of structural racism and disinvestment.
Award Will Spur Projects that Increase Access to Social Services in Disinvested Communities
Arlington, VA (September 1, 2021) — The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded Capital Impact Partners a $60 million New Markets Tax Credit (NMTC) allocation. This award helps advance Capital Impact’s mission to increase access to critical social services in disinvested communities, spur economic development and wealth creation, and create jobs by incentivizing private sector investors to partner in its community financing efforts.
Arlington, VA, Chicago, IL, and Delray Beach, FL (August 5, 2021) – Capital Impact Partners today announced that it has achieved a significant impact investing milestone by issuing more than $200 million of Capital Impact Investment Notes (Notes), the net proceeds of which help drive social impact through investment in organizations that provide access to critical social services, including health care, education, affordable housing, and healthy foods. Capital Impact partners with InspereX LLC to distribute the Notes through its Legacy™ Platform to a nationwide network of broker-dealers, institutions, and financial advisors.
First two funded projects demonstrate how initiative creates a pathway for emerging real estate developers of color to enter the industry and positively impact the communities in which they build
(Arlington, VA – July 8, 2021) – Capital Impact Partners today launched its $20 million Diversity in Development – DMV Loan Fund (DiD-DMV), and named the first two high-impact housing and community development projects in Washington, D.C.’s Wards 7 and 8 financed through the Fund.
Grants through the Treasury’s CDFI Rapid Response Program (CDFI RRP) will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in disinvested communities
Arlington, VA (June 15, 2021) The U.S. Department of the Treasury announced today that Capital Impact Partners was awarded $1,826,265 as part of $1.25 billion in awards to 863 Community Development Financial institutions (CDFIs) to respond to economic challenges created by the COVID-19 pandemic, particularly in disinvested, yet persevering communities across the country.
Centering our commitment to community-centered value will support hard-working communities to move forward and thrive in the wake of the pandemic
Arlington, VA (June 10, 2021) – After pivoting to face the realities that 2020 laid bare, the first quarter of 2021 for Capital Impact Partners has been about expanding our work to create opportunities for hard-working communities to move onward and upward. Our communities, including communities of color and communities living with low incomes, were hard-hit by the pandemic, as many of our neighbors were already struggling with inequity and lack of opportunities before the COVID-19 pandemic started.