Capital Impact Partners is excited to announce that the application is now open for the third cohort of the Detroit Equitable Development Initiative through December 2, 2019. We will be accepting 20 participants.
The Equitable Development Initiative provides training and one-on-one support to minority real estate developers in Detroit. For the purposes of this program, a real estate developer is an individual who controls the real estate development process from start to finish. This includes identifying property and creating a project vision; planning, designing, and financing that project; managing the project once it is fully operational; and pulling together a team of individuals to support the effort. The program considers both new construction (“ground up” or “infill” development), and rehabilitation of vacant structures, and focuses on the current real estate development environment in Detroit.
Key Dates
- Application is open through December 2, 2019
- Interviews will be held December and January
- Notification of acceptance will be in late January
- Tentative training schedule is 11 a.m. – 5 p.m. 2/3/20, 2/10, 2/24, 3/2, 3/16, 3/23, 4/6, 4/20, 5/4, 5/11, 5/18, 6/1, 6/8. All dates are subject to change, location TBD.
Eligibility
Candidates should:
- Identify as racial or ethnic minorities.
- Be actively working to further careers in real estate development. As this is not an introductory program, candidates are expected to have some real estate development experience.
- Live in or have a strong connection to Detroit.
- Demonstrate a commitment to Detroit’s revitalization.
- Be able to commit to majority of training dates for up to six (6) hours per week during training period.
- Be interested in responding to requests for proposals for real estate development opportunities in Detroit with or without a development partner in the next 1-2 years.
Program Background
Capital Impact has been supporting neighborhood revitalization in Detroit for nearly a decade, through capital investments, programs, policy work, and partnerships. Improvements to the built environment are important to neighborhood revitalization efforts, and real estate development is one way to influence the built environment.
Property ownership and real estate development can serve as wealth-building avenues with the potential to positively impact families for generations. As a community development financial institution that invests in multifamily and mixed-use development in Detroit, we are seeking to connect our goals of neighborhood revitalization and community wealth-building; this program is one way of making that connection.
Contact Information
Please reach out to Jarrett Sanders (jsanders@capitalimpact.org, 313-230-0147), Detroit Real Estate Specialist, with questions about the program and application process.
Support@submittable.com can help with application software issues.