• Equitable Development Participants pose for group shot
  • EQUITABLE DEVELOPMENT INITIATIVE
    Empowering Minority Developers to Lead Revitalization Efforts

In an effort to better ensure that real estate developers truly reflect their city’s diversity and that minority real estate developers are able to participate in growth and revitalization efforts, we have launched the Equitable Development Initiative. Charting a new path toward inclusive economic opportunity, this program combines our local knowledge, partnerships, and key strengths – including program design and project financing – to support minority developers to grow their careers and support communities.

Man points to blueprint on screen.

Training
Program participants engage in formal mixed-use real estate development training, workshops with local development experts and city leaders, and discussions around challenges and opportunities for minority developers in metropolitan regions.

Two women review papers at desk

Mentorship
Participants receive one-on-one support from both a developer mentor and a finance mentor. These local experts provide project-specific guidance to further participants’ real estate development efforts.

Man stands on steps of house to be rehabilitated

Financing
Capital Impact will work with program participants to connect them to project financing options, leveraging the tools they’ve gained to strengthen their financing applications.

 

ELIGIBILITY CRITERIA

Candidates are selected based on the following:

  • Identify as racial or ethnic minorities.
  • Be actively working to further careers in real estate development. As this is not an introductory program, candidates are expected to have some real estate development experience.
  • Live in and have a strong connection to the city in which they are working.
  • Demonstrate a commitment to their city’s revitalization.
  • Be working on a specific real estate project or be interested in responding to requests for proposals for real estate development opportunities with or without a development partner in the next 1-2 years.

If candidates are working on a specific real estate project, the project should:

  • Have a multifamily rental component, with a percentage of units programmed to serve households earning approximately less than 80 percent of the Area Median Income.
  • If NOT working on a specific real estate project, be prepared to use a current or recent local project as a case study in order to complete the program objectives and coursework.
  • Be able to commit to in-class training sessions on a weekday for up to five (5) hours per week during the cohort period.

The EDI program is currently being run in Detroit, Michigan and Washington, D.C. We will update this page with more specific details when the program is open to new applicants in each city.

Elizabeth Luther, Detroit Program Manager
eluther@capitalimpact.org | (313) 230-1129

Kayla Baker, Washington, D.C. Initiatives Manager
kbaker@capitalimpact.org | (703) 647-2305

Download Fact Sheet     Washington, D.C. Convening Report
 

Meet Our EDI Program Participants

Equitable Development Program participants represent a diverse group of individuals with a range of backgrounds and experience. We invite you to learn more about them by downloading the fact sheets below. This section will be updated with our newest cohort from Washington, D.C. once they have been selected.

 

OUR PARTNERS



 

We would like to thank our partners at JPMorgan Chase and the A. James & Alice B. Clark Foundation for their generous support of the Equitable Development Initiative and our broader efforts to create a more inclusive economic opportunities in Detroit and Washington, D.C.

 


 

STORIES OF IMPACT

Through capital and commitment, we help people and communities break the barriers to success. That impact is illustrated through minority developers that we have partnered with across the country to ensure that low-income communities have access to the critical social services they need to thrive. Here are a few of their stories.

 
Richard Hosey stands on the rooftop of one of his Detroit projects.

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.
Meet Richard

Man stands in room about to be renovated

2018 EDI Cohort Profiles
The EDI program launched with promising individuals representing a broad spectrum of community development expertise. Follow along as we take a deep dive with three participants to learn more about their backgrounds and their future plans.
Meet The Cohort Team

Sam Shina cuts the ribbon at the Imperial FreshMarket Grand Opening

Imperial Fresh Market
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.
Meet Sam

 

Building is in Her Blood

Alisha Moss’ grandmother is said to have built all of Lima, Ohio “with her bare hands” when her family lived there from the mid-1930s through the 1960s. She did this in an era when few women, and few African Americans, were involved in the construction industry. But the going was not easy. People of color could not get loans. In many cases they were not even allowed in the bank. So Moss’ grandmother either borrowed or bartered for tools as needed to support her family. That passion for building has stuck with Moss, as have many barriers to success in the industry. Hear directly from Alisha as she talks about how EDI is giving her an opportunity to be part of constructing Detroit’s future.

 

SUBSCRIBE TO OUR NEWSLETTER

© Copyright 2019 Capital Impact Partners. All Rights Reserved.