NEXT AWARDEE · Success Story: Success Story: The Auburn, Detroit, MI The Auburn is a 56,000 square...
Transcript of NEXT AWARDEE · Success Story: Success Story: The Auburn, Detroit, MI The Auburn is a 56,000 square...
Capital Impact Partners helps people and communities reach their highest potential at every stageof life. A non-profit community development finance institution with a national presence, CapitalImpact Partners provides financial services and technical assistance to help make high-quality health care, healthy foods, housing, and education more accessible and attainable, and eldercare more dignified and respectful. Capital Impact Partners runs several community development programs, including serving as Program Administrator for the California FreshWorks Fund, through which it finances projects to expand underserved communities’ access to healthy food. Capital Impact has used its depth of experience, cooperative approach, and diverse network of alliances to generate more than $1.9 billion in critical investments that create a high quality of life for low income people and communities.
Its products and services include: Health care financing; Financing for high-quality educational facilities tools and resources to create better options for low-income elders; A peer network for homeownership programs that help more people buy homes, maintain them, and keep them affordable.
Capital Impact Partners www.capitalimpact.org
Success Story: Success Story: The Auburn, Detroit, MI
The Auburn is a 56,000 square foot mixed-used commercial and residential development in the heart of Midtown Detroit that has transformed a formerly vacant property into a neighborhood hub. It provides market-rate and affordable rental housing units for the area’s young professional and students, as well as 9,100 square feet of quality retail space. Capital Impact Partners provided a $3.7 million leverage loan that helped make possible this $8.4 million NMTC transaction. In addition to Capital Impact’s support, the deal was made possible by Partners for the Common Goods’ $500,000 participation in the leverage loan, a guarantee of a commercial lease from Invest Detroit, and a $1 million grant from the Michigan State Housing Development Authority.
Financial and Social Impact
n Health center financing provided: $715 million
that provides 1.7 million patient visits annually
n Healthy food financing provided: $112 million
in more than 76 locations
n Charter school facilities financing: $630.6
million creating 213,404 more school seats
n 35,415 Units of multifamily homeownership
or other in-demand housing
n GREEN HOUSE® Homes created: 150 allowing
1,579 frail elders the opportunity to age with
dignity
n Jobs created or maintained: 31,212 jobs for
low-income individuals
2011 Crystal Drive, Suite 750
Arlington, VA 22202
P: 703.647.2300
Contact
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Photo Credit: Doug Coombes