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.