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Social Investments Made

A database of all social investments made since 2009. We update this listing several times a year as new investments are confirmed.

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Cook Inlet Housing Authority

The loan dollars will be invested in three nearby commercial developments to accelerate CIHA’s vision for a comprehensive corridor approach to community development in Spenard. Cook Inlet Housing Authority’s mission is to create housing opportunities that empower people and build communities. This program-related investment loan and $500,000 companion grant will help the Authority continue its Creative Placemaking work in the Spenard neighborhood of Anchorage. View Website

Amount

$3 million loan

Year

2019

Location

Anchorage, Alaska

Program

Arts & Culture, Social Investment Practice

Focus Area

Economic Development Growth Engine for Memphis & Shelby County

The Economic Development Growth Engine provides and coordinates public resources through incentive programs to foster public/private partnerships. This loan will be used to partially fund a loan pool to finance a mixed-use real estate development, small business capital; and a multi-family housing development. EDGE is partnering with Community LIFT and River City Capital to deploy this into targeted neighborhoods. View Website

Amount

$1 million loan

Year

2017

Location

Memphis, Tennessee

Program

Arts & Culture, Social Investment Practice

Focus Area

The Reinvestment Fund

Geography Served: Baltimore, Atlanta, New Orleans

Project: Kresge Community Finance

A CDFI with a mission to build wealth and opportunity for low-income communities through socially and environmentally responsible investing. This loan will support a creative placemaking strategy tied to large-scale community development efforts, including light rail expansion and arts and education campuses, in Baltimore, Atlanta and New Orleans. View Website

Amount

$3 million loan

Year

2016

Location

Philadelphia, Pennsylvania

Program

Arts & Culture, Social Investment Practice

Focus Area

New Jersey Community Capital

This loan will provide capitalization and credit support for a $12 million New Jersey Creative Placemaking Fund. The fund will support catalytic projects that integrate arts and culture with broad-based neighborhood development strategies, and that generate significant community impacts. This revolving loan fund will provide flexible and affordable capital for the strategic acquisition, construction, and development of projects in low income communities in New Jersey. View Website

Amount

$2.5 million loan

Year

2015

Location

New Brunswick, New Jersey

Program

Arts & Culture, Social Investment Practice

Focus Area

Artspace

A leader in developing, owning and managing affordable live/work space for artists by reclaiming abandoned buildings and renovating historic structures, Artspace promotes artist-community interaction, economic development and job creation. This unfunded guarantee substitutes for a cash reserve required by commercial investors for a project in Waukegan, Ill. View Website

Amount

$1 million

Year

2011

Location

Salt Lake City, Utah

Program

Arts & Culture, Social Investment Practice

Focus Area

Kresge staff is working remotely, and our offices are closed until further notice.  See our promise to partners during COVID-19.
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