$30.25 Million Fund to Provide Critically Needed Real Estate Financing in Detroit
ARLINGTON, VA (September 17, 2013) —Capital Impact Partners and The Kresge Foundation
today announced the launch of the Woodward Corridor Investment Fund, developed to invest in
transformative real estate projects that advance the physical redevelopment of Detroit’s Woodward
Corridor. With the support of MetLife, Inc., PNC Bank, Prudential, Calvert Foundation, Living Cities,
and the Max M. & Marjorie S. Fisher Foundation, the Fund will provide capital to projects that are
mixed-use, mixed income, transit-oriented and promote density, diversity, vibrancy, and walkability in
Community lender recognized for its innovative plan to bring needed funding to Detroit
WASHINGTON, DC (July 11, 2013)—NCB Capital Impact was selected as one of three finalists for the NEXT Opportunity Award for its compelling plan to expand its financing for individuals and families in low and moderate income communities. NCB Capital Impact’s mission is to help people and communities reach their highest potential at every state of life. Since its inception, Capital Impact has deployed nearly $1.9 billion nationwide to economically disadvantaged communities, including more than $70 million in Detroit.
Twelve grassroots “Villages” across the U.S. were awarded $55,950 by Capital Impact’s Village to Village (VtV) Network to support the creation of a sustainable business and organizational infrastructure for their Village organizations. These grants stem from a MetLife award of $250,000 to NCB Capital Impact in May to continue the expansion of the VtV Network, including a second round of Business/Operation Sustainability Grants.
The 12 Villages will use their grant funds to develop sound business solutions and innovative approaches to sustainability, membership retention and strategic partnership strategies. Additionally, the grantees will share lessons learned and successful models with the VtV Network. The 12 Villages awarded grants include: Canopy of Neighbors, Buffalo, New York; Lincoln Park Village, Chicago; East Rock Village, New Haven, Connecticut; Capital City Village, Austin, Texas; Tierrasanta Village of San Diego, California; Elderhelp of San Diego, California; Glover Park Village, District of Columbia; Neighborhood Falmouth, Massachusetts;?North Oakland Village, Oakland, California; Plumas Rural Services, Quincy, California; Westchester Playa Village, Los Angeles, California; Dupont Circle Village, District of Columbia.
Today, there are approximately 94 operating Villages in the U.S., and over 120 communities that are in some stage of developing a Village. Currently, 210 organizations are members of the VtV Network.
By Maureen Pearson – Originally Published: JANUARY 11, 2013 The Green House Project Blog
Residents and staff who gather for meals in any of the three Woodland Park homes on the campus of VMRC will be seated at a table made from trees cleared from the site. Several of the white oak trees were cut, dried then hollowed out for preparation for the woodworking phase.
Marv Nisly, vice president of Design & Construction at VMRC, said that there was talk during construction if there was a use for the trees in the homes. “We considered some options and estimated the amount of wood we would need,” he said. VMRC received in-kind services in part from Willow Run Saw Mill and Lantz Woodworking for the furniture-making process.
The result was three sets of several pieces of furniture for each home in the Woodland Park neighborhood: a dining room table which seats 14, a hutch, a game table, side table and matching bookshelves. The white oak pieces were then stained and finished to match the furniture decor in the homes.
VMRC officials say the response has been overwhelming when people learn the story of the furniture. “Many white oak and ash trees graced the property where the original Woodland building was located on VMRC’s campus. When the building was razed to clear the site for Woodland Park, we intentionally kept as many trees that we could,” said Maureen Pearson, VMRC’s director of Communications. “Using the wood from the cleared trees means that the residents of Woodland Park will continue to enjoy those trees but in a different form.”
WASHINGTON, DC (May 29, 2013)– NCB Capital Impact is pleased to announce that Eli Kennedy has joined its board of directors. Mr. Kennedy is president and CEO of Pacific Charter Schools Development (PCSD), a position he has held since 2010 and has served on the PCSD board since 2008. “Eli Kennedy will add a unique perspective to our board of directors,” said Terry Simonette, President and CEO of NCB Capital Impact. “I have great admiration for his deep understanding of the current challenges facing charter schools and nonprofit organizations.”
WASHINGTON, DC (April 24, 2013) —The U.S. Department of the Treasury’s CDFI Fund announced today that NCB Capital Impact was awarded $40 million in New Markets Tax Credit (NMTC) allocation. Capital Impact was one of 85 organizations to receive a combined $3.5 billion in allocation nationally. This is Capital Impact’s 6th award, increasing Capital Impact’s total allocation to $449 million.
Washington, DC (March 27, 2013) – NCB Capital Impact has been awarded a $1.91 million grant from the Ford Foundation to support the continued growth of its affordable housing initiative, the Cornerstone Partnership, which helps local homeownership programs preserve long-term affordability.
Washington, DC (January 31, 2013) -NCB Capital Impact (Capital Impact) announced today that it had again received the highest rating from the CDFI Assessment and Rating Service (CARS™) for 2012. For the fourth straight year, Capital Impact received an AAA +1 rating. The AAA is the highest mark for the organization’s social impact, and the numerical part of the rating, which ranges from a high of 1 to a low of 5, measures financial strength and performance of the institution.
Village to Village Network and MetLife Foundation Help Village Movement Focus on Sustainability