neighborhood capital
Description
Neighborhood Capital is Neighborhood Allies’ flexible capital and technical assistance initiative designed to bridge the equity gap in real estate development, especially for community-rooted developers and neighborhoods that have experienced generations of underinvestment.
The program provides early, flexible funding and hands-on support that help projects move from concept to closing and unlock larger sources of financing, including banks, CDFIs, government, and philanthropy.
Launched in 2022 and strengthened through investments from partners such as McAuley Ministries and the Eden Hall Foundation, Neighborhood Capital expands who can participate in development and ensures projects advance outcomes that prioritize affordability, ownership, and inclusive neighborhood growth.
Goal of Program
Our goal is to complete the continuum of real estate investment capital by addressing a critical gap: the lack of early-stage, equity-like resources that allow community-rooted developers to compete, secure financing, and deliver projects that reflect community priorities.
Neighborhood Capital exists to make it possible for strong, equitable projects to move forward without requiring neighborhoods to wait, compromise, or lose ownership in the process.
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 | An $800,000 investment is spurring the redevelopment of up to 69 affordable housing units in Homewood
Media Coverage | Salem’s Market in the Hill District gets boost from $250,000 grant
