Detroit Neighborhoods Fund

Investing in Projects that Deliver Opportunity for Detroit’s Neighborhoods

For more than a decade, Capital Impact Partners has developed its place-based strategy in Detroit to deliver financial and social impact to the city’s residents and neighborhoods. In Detroit, we partner with local developers, community-based organizations, city departments, and mission-driven lenders to increase residents’ access to services and amenities.

Since 2010, Capital Impact Partners has committed over $300 million of financing towards projects in the city, providing quality and affordable housing for more than four thousand residents.

The $300 million Detroit Neighborhoods Fund, supported by JPMorgan Chase, is a critical part of this work in Detroit.

Through this Fund, we have been able to provide financing to 11 high-impact projects in seven neighborhoods. As part of our strategy into 2025, we are looking to provide additional financing for multifamily residential properties and mixed-use real estate developments.

Our goal is to partner with developers across a variety of Detroit neighborhoods, including areas the city has targeted as priority neighborhoods for development. Through this effort, we can return vacant properties to productive use, underwrite “missing middle” projects that fill gaps in the neighborhood fabric, increase access to neighborhood retail, and provide housing for residents across the income spectrum.

Detroit Neighborhood Fund key features:

• Supporting multifamily rental housing and mixed-use real estate developments located within the city of Detroit.
• Conforming loans made to eligible borrowers to finance construction and/or permanent loans.
• Preference given to projects that make at least 20 percent of units available to people with low and moderate incomes and projects with a food component that are located in areas shown to have low access to fresh, healthy foods.
• Preference given to projects that are led by developers of color.

Advantages of borrowing through Capital Impact Partners:

• With an office in Detroit, we have invested more than $300 million locally to projects including mixed-use developments, multifamily affordable and workforce housing, health care facilities, healthy food businesses, and education facilities.
• Through our Equitable Development Initiative, we are experienced in working with developers of color in Detroit and are familiar with local market conditions.
• Our on-the-ground team and local partnerships allow us to leverage our networks and resources for broader impact.
• As a mission-driven organization, we are committed to supporting projects that create social and economic justice.