Develop Neighborhoods
Provide Capital Investment in the Development of Mixed-Income Neighborhoods
Accelerating the pace of physical change is LISC’s most important continuing responsibility. This requires larger and smarter financial tools and increased capital investment in distressed communities. LISC will build on its strength as an aggregator and investor of capital to leverage more dollars and forge new relationships to extend our reach.
Here is a sample of projects done under this initiative during the previous two years.
Project Name: Berridge Hotel
Project Year: 2007
Project Location: Flint, MI
Non-Profit Partner: GC Land Bank and Court Street Village
-21 Units Mixed-Income Housing
-1,600 square feet Commercial Space
Project Name: Academy Street Workforce Housing
Project Year: 2008
Project Location: Kalamazoo, MI
Non-Profit Partner: Open Door, Next Door Shelter
-19 Units of Affordable Workforce Housing
-3 Commercial Units
Project Name: New Horizon Village
Project Year: 2008
Project Location: Kalamazoo, MI
Non-Profit Partner: LIFT Foundation
-Redevelopment of a 245 unit cooperative in the Burke Acres neighborhood.
Project Name: Carrier Crest Apartments
Project Year: 2008
Project Location: Grand Rapids, MI
Non-Profit Partner: Creston Neighborhood Association
-Energy efficient rehabilitation of a 12 unit apartment building and creation of 2,000 square feet of office space.
Project Name: Rickman House
Project Year: 2009
Project Location: Kalamazoo, MI
Non-Profit Partner: Kalamazoo Area Housing Corporation
-Rehabilitation of the Rickman House, which is home to 84 single vulnerable adults with special needs or at risk of homelessness.
Project Name:100 E. Michigan Project
Project Year: 2009
Project Location: Kalamazoo, MI
Non-Profit Partner: Downtown Tomorrow, Inc.
-4 Affordable HUD-rate apartments
-16 Market rate apartments
-10,350 square feet of Commercial Space
-72 New retail jobs