With support from MetLife and the Max M. & Marjorie S. Fisher Foundation, among others, the fund will provide long-term fixed-rate loans to mixed-use, mixed-income, transit-oriented projects that promote density, diversity, vibrancy and walkability along Detroit's Woodward Corridor.
NCB Capital Impact and The Kresge Foundation announced the launch of the Woodward Corridor Investment Fund, developed to invest in transformative real estate projects that advance the physical redevelopment of Detroit’s Woodward Corridor. With the support of MetLife, Inc., PNC Bank, Prudential, Calvert Foundation, Living Cities and the Max M. & Marjorie S. Fisher Foundation, the Fund will provide capital to projects that are mixed-use, mixed income, transit-oriented and promote density, diversity, vibrancy and walkability in Detroit’s core.
"Access to capital is critical to expanding opportunity, strengthening neighborhoods and improving quality of life in our cities,” says Rip Rapson, president of The Kresge Foundation. “We know we need an array of tools to support the revitalization of our hometown. We also need creative partners. This Fund is an example of all of those elements.”...