neighborhood capital fund

Description

With unprecedented $2 million grant from McAuley Ministries, our Neighborhood Capital Fund is supporting transformative real estate projects in the Greater Hill District through a combination of technical assistance and patient, flexible capital that encourages prudent risk-taking and promotes equitable outcomes for businesses and residents.

Goal of Program

The program’s goal is to complete the continuum of real estate investment capital for local Black developers and Black communities by addressing the root cause of underinvestment – lack of equity. 

What We Provide

Through this fund we provide grants for predevelopment costs including architectural fees, engineering
fees, environmental studies, surveys, legal fees, etc. We also provide
strategic guidance feasibility assessment, budgeting and proforma development, fundraising consultation, and support around identifying and assembling a development team. 

How to Engage

All Neighborhood Capital applicants must begin by completing our general real estate application. Eligible projects include Multifamily housing, commercial or business development, and nonprofit community facilities are eligible. Projects demonstrating a commitment to racial equity or ability to remedy historic injustices will be considered favorably. Owner-occupied homes are not eligible.

We are also seeking Neighborhood Capital growth partners to continue this transformational work as well as expand our resources to other deserving neighborhoods. Please contact Matt Madia at matt@neighborhoodallies.org for more information on how to get involved.

Stories of Impact

Media Coverage | Affordable housing project in Homewood could ignite revitalization in neighborhood

Media Coverage | Affordable housing project in Homewood could ignite revitalization in neighborhood

By: Jessica Guay | KDKA News | July 12, 2024 | Watch the ...
Media Coverage | An $800,000 investment is spurring the redevelopment of up to 69 affordable housing units in Homewood

Media Coverage | An $800,000 investment is spurring the redevelopment of up to 69 affordable housing units in Homewood

By: Oliver Morrison | WESA 90.5 | July 12, 2024 | Read the full ...
Media Coverage | Salem’s Market in the Hill District gets boost from $250,000 grant

Media Coverage | Salem’s Market in the Hill District gets boost from $250,000 grant

"The injection of capital from Neighborhood Allies enables Salem’s ...