PARTNERS IN DETROIT'S REVITALIZATION: A VIDEO SERIES
In 2011, Capital Impact launched a focused strategy to help revitalize Detroit through investments that promote inclusive growth. Our mix of financing supports multifamily and mixed-use developments as well as projects that increase access to critical social services like health care, education and healthy foods. We pair that effort with other programs such as our Equitable Development Initiative, which seeks to support real-estate developers of color through technical assistance and mentorships.
We know we are not alone in supporting the revitalization of Detroit. Through the years, we have been honored to work with a broad range of partners, investors and government agencies that share similar missions and values.
We invite you to learn more about those partners and the great work they are doing through our video series “Partner’s in Detroit’s Revitalization.”
Director for Housing and Revitalization, City of Detroit
The City of Detroit remains committed to relentlessly uplifting and revitalizing Detroit post-financial crisis. With organizations like Capital Impact Partners, the City is able to support investments and increase interest in target communities and neighborhoods.
In this video, the City of Detroit’s Director for Housing and Revitalization, Donald Rencher, talks about the joint efforts and the partnership between the City and Capital Impact to build quality, affordable housing and mixed-use, mixed-income developments, while launching initiatives that support inclusive growth and equitable communities.
CEO, Goodwill Industries
For more than 95 years, Goodwill Industries of Greater Detroit has been a leader in supporting the development of equitable communities and making a difference in people’s lives by helping them find work, hope and pride in their life and careers. Goodwill delivers services based on the needs of those they serve, working and partnering with businesses, nonprofits and government agencies in metro Detroit to make this happen.
In this video, Dan Varner, CEO of Goodwill Industries of Detroit and chair of Capital Impact Partners’ board, discusses the history of race and equity in Detroit, touching on the importance of revisiting and addressing former policies that have led to inequitable practices in communities throughout the city. Varner additionally speaks to the need for intentionality as it relates to making sure sustainable and equitable investments happen in those neighborhoods.
President and CEO, Develop Detroit
Develop Detroit builds vibrant, resilient communities and expands opportunities for all residents to succeed. With its partners, the organization creates mixed-income communities and single-family homes that are accessible to all Detroiters. Develop Detroit is committed to stabilizing and growing neighborhoods for a more inclusive Detroit.
In this video, Sonya Mays, President and CEO of Develop Detroit, talks about the organization’s development work in the North End and the importance of lending institutions such as Capital Impact Partners in ensuring inclusive growth. With support from Capital Impact, Develop Detroit works relentlessly to implement an affordable housing strategy throughout Detroit for a more inclusive and equitable city.
Managing Partner, Woodborn Partners
Clifford Brown has more than 20 years of real estate, corporate and investment finance and banking experience. He is responsible for new business development, project management, private financing and more for Woodborn and its affiliate companies.
Brown has partnered with Capital Impact for many projects including The Coe, a mixed-use development in the West Village, while also serving as mentor in Capital Impact and JPMorgan Chase’s Equitable Development Initiative.
In this video, Brown speaks to the importance of inclusive growth and the role organizations like Capital Impact play in achieving that objective. He additionally talks about his experiences as a developer—supporting communities and neighborhoods that have previously lacked investment—and the relationships he has built as a mentor in the Equitable Development Initiative.
Executive Director, Detroit Food Policy Council
The Detroit Food Policy Council (DFPC) is an education, advocacy and policy organization led by Detroiters committed to creating a sustainable, local food system that promotes food security, food justice and food sovereignty throughout the city. Having a stronger food system and policies in place will allow residents to make healthier decisions and ensure healthy food options are accessible to all.
In this video, Winona Bynum, Executive Director of DFPC, discusses the importance of building healthy communities and partnering with organizations, such as Capital Impact, that recognize this need. Together, Capital Impact and DFPC are developing sustainable, equitable food systems to ensure that healthier communities are prominent in Detroit’s revitalization.
Managing Director, Social Investment, Kresge Foundation
The Kresge Foundation is committed to making social investments that help amplify America’s cities with greater access to culture, education, environment and health and human services. Nowhere is that commitment more apparent than in Detroit, where the Foundation collaborates with civic, nonprofit and business partners to promote and expand long-term, equitable opportunity to current and future residents.
In this video, Aaron Seybert, Managing Director of Social Investment at the Kresge Foundation, discusses the symbiotic relationship between the Foundation and Capital Impact Partners and how together they are helping fund critical services throughout Detroit. Formerly the Vice President of JPMorgan Chase’s Community Development Banking Program in Detroit, Seybert has worked with Capital Impact to launch the Detroit Neighborhoods Fund and the Equitable Development Initiative among many other projects supporting city residents.
September Hargrove, Vice President and Head of Detroit Philanthropy
JPMorgan Chase & Co.
JPMorgan Chase & Co. is committed to supporting Detroit’s revitalization in an equitable way—from the main corridors of Downtown and Midtown to the smaller neighborhoods. They have partnered with community development financial institutions like Capital Impact Partners on mixed-use, mixed-income developments. Plus, they support the resurgence of the city through projects such as the Equitable Development Initiative, which provides training, mentoring and program financing to minority developers.
In this video, September Hargrove, Vice President and Detroit Program Officer at JPMorgan, talks about their partnership with Capital Impact, the impact it has had on Detroit’s revitalization and the importance of building inclusive and equitable communities.
Stay Midtown Program Participant
Midtown Detroit, Inc. and Capital Impact Partners, with generous contributions from the Ford and the Kresge Foundations, launched the Stay Midtown program in 2016. The program provided and continues to provide low-to-moderate income households with rent payment assistance to help them remain stably housed at a time when rent has increased faster than incomes.
In this video, Consuelo Jackson, a participant of the Stay Midtown program, shares the challenges she faced in finding affordable housing in Midtown, as well as the gratitude she has for organizations like Capital Impact.
LEARN MORE ABOUT OUR WORK
Partnerships Hold Immense Power in Redeveloping Detroit
In order to scale our work to have a broader impact, it is vital to have mission-aligned partners who can help us generate the capital we need to make these investments for Detroiters.
Are You a Detroiter Looking For Financing?
We work with local, mission-driven developers to improve economic mobility in Detroit through an inclusive growth framework.
Supporting Emerging Developers in Detroit
Through our Equitable Development Initiative, we are helping ensure that real estate developers of color in Detroit are able to participate in the city’s revitalization in a way that reflects the city’s diversity.