WOODWARD CORRIDOR INVESTMENT FUND
The Kresge Foundation, MetLife, Inc., PNC Bank, Prudential, Calvert Foundation, Ford Foundation, Living Cities and the Max M. & Marjorie S. Fisher Foundation all support our launch of the Woodward Corridor Investment Fund and provide capital to projects that promote density, diversity, vibrancy and walkability in Detroit’s core.
HEALTHY FOOD FOCUS
First Lady Michelle Obama announces the California FreshWorks Fund, which we developed in partnership with The California Endowment to finance healthy food enterprises and support innovation across CA. After we deploy $60M and increase access for 800,000 Californians, management of the fund is transferred to a partner CDFI in 2015.
A VISION FOR DETROIT
We join the Kresge Foundation, Skillman Foundation and Midtown Detroit to launch a focused effort in Detroit as part of the Living Cities Integration Initiative. Our lending work expands to collaboration with on-the-ground organizations, academic institutions, businesses and foundations to spur revitalization of Detroit’s Woodward Corridor.
AFFORDABLE HOUSING CAPACITY BUILDING
A $2M award from the Social Innovation Fund, a program of the Corporation for National and Community Service, allows us to make grants to local homeownership programs, addressing affordability issues. A second $2M award helps extend this program in 2013.
We become officially certified by the Community Development Financial Institution Fund, which recognizes our lending to projects in low-income communities. This certification makes us eligible for a variety of programs offered by the Fund.
COMMITMENT TO SHARED EQUITY AFFORDABLE HOUSING (2009)
With support from the Ford Foundation, we launch the Cornerstone Partnership—a peer network for homeownership programs working to preserve long-term affordability. Cornerstone morphed into the Grounded Solutions Network in 2016.
EXPANDING AGING IN THE COMMUNITY EFFORTS
We seed the initial development of the Village to Village Network, a peer network of grassroots organizations committed to creating livable communities for older adults. Successfully grown into a national presence, the network became an independent organization in 2015.
AMPLIFYING HOUSING COOPERATIVES
Capital Impact becomes a founding investor in ROC USA. This dedicated nonprofit makes resident ownership of manufactured home communities possible by helping residents work together as a cooperative to purchase the land their community sits on.
THE GREEN HOUSE PROJECT
We partner once again with the Robert Wood Johnson Foundation to lead a replication of The Green House Project, a radical new model for home-like skilled nursing care. In 2016 the program scaled to a point where it was able to operate as a stand-alone organization.
PARTNERING TO AMPLIFY IMPACT
We embark on our first partnership with another CDFI as a way to service larger loans for big projects. This effort will serve as a model for creating financing partnerships with numerous CDFIs, foundations and traditional banks.