Formal mixed-use real estate development financing training, workshops with local development experts and City of Detroit leaders, and future development and project sustainability training will be offered to program participants.
Paired with a developer mentor, participants will receive one-on-one support throughout the program. Topics include project budget and finance, community impact and place-based support, project management and legal services.
Capital Impact will work to match program participants with qualifying projects senior debt (for acquisition and construction) and sub-debt (to help close equity gaps and support predevelopment, acquisition and construction) at competitive interest rates and favorable terms.
Kirby Center Lofts
When Richard Hosey returned to his hometown in 2008, the economic downturn had completely changed the city he remembered. With help from Capital Impact, the Detroit native has focused his efforts on returning the city to its former greatness through projects that foster inclusive growth for all residents.
An immigrant from Iraq, Sam Shina made Detroit his hometown in the 1980s and never left. Through good times and bad, residents have relied on his stores for healthy food options. His partnership with Capital Impact has helped him continue to grow and expand to meet residents’ needs.
South of Market Health Center
Charles Range’s family were force to drive miles for basic medical services when he was growing up. He dreamt of better care for low-income individuals. As the CEO of South of Market Health Center, he worked with Capital Impact to secure the financing and support he needed to do just that.