5 Midwest Community Facilities Supported with Financing and Technical Assistance from IFF
Client: Various
Client Location: Chicago, IL
CDFI: IFF
CDFI Service Area: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Northern Kentucky, Ohio, Wisconsin
Financing and technical assistance
Learn more about five IFF-supported community facilities across the Midwest that are bringing critical services and other benefits to youth experiencing homelessness, individuals facing employment barriers, families in need of affordable homes, and many more.
8twelve Coalition
Muncie, IN
Spearheaded by a local Habitat for Humanity affiliate, 8twelve Coalition is a coalition of community groups, nonprofits, businesses, and local residents working to revitalize two neighborhoods in Muncie, IN, that were hit hard by lost manufacturing jobs. When they wanted to bring a coffee shop to the neighborhood, they sought real estate and construction support from IFF. In the ensuing months, IFF prepared a feasibility study, developed a project budget and timeline, and provided pre-development support and ongoing technical assistance during the renovation of a former bank facility. With IFF’s support, Rosebud Coffee Shop opened in December 2020. Learn more.
Commongrounds Cooperative
Traverse City, MI
Commongrounds Cooperative is a four-story, mixed-use cooperative owned by more than 600 community members and tenants. With a goal to foster community, the cooperative will house various local nonprofits and organizations within the arts, food, and health sectors. Additionally, the facility will include an early childhood education center, creating up to 40 spots for children in this high-need area, as well as more than 10 affordable housing units. Due to an unexpected funding gap, IFF provided a $1.5 million loan to Commongrounds to support the construction of the project. Learn more.
Covenant House Illinois
Chicago, IL
Covenant House is an international network of emergency shelters that provide interim housing and supportive services for youth experiencing homelessness. When Covenant House Illinois needed bridge financing for a new facility in Chicago, IFF provided a $605,000 loan that enabled the organization to move forward with the acquisition and renovation of the 25,000 sq. ft., $8.9 million, transit-accessible facility that will more than triple the number of interim beds the organization offers to the young people it serves. IFF’s real estate team also completed a feasibility study, site search, pre-development services, and provided owner’s representation during construction. Learn more.
Red Clay Dance Company
Chicago, IL
Red Clay Dance is a Chicago-based nonprofit that creates, performs, and teaches dances of the African Diaspora as a platform for “Artivism” (Art + Activism). IFF provided real estate support to identify a new facility for Red Clay Dance Company in Chicago’s Woodlawn community – a historic hub for Black arts and culture in the city – and financing for tenant improvements to the 3,708-sq-ft dance center. Red Clay Dance’s new leased facility tripled the organization’s class capacity, provides the organization with the autonomy to open the space to the community when desired, and enables the dance company to livestream its programming to reach an audience beyond Chicago. Learn more.
Blue Skies Landscaping
Milwaukee, WI
Blue Skies Landscaping is a social enterprise of longtime IFF client Walnut Way Conservation Corp that serves as an important source of revenue for the nonprofit. Their work also helps beautify the community, emphasizes eco-friendly practices, and offers a job training and re-entry program for individuals who face employment barriers. IFF provided Walnut Way Conservation Corp. with a $284,000 loan that enabled Blue Skies to acquire a facility and equipment needed to scale the operation. The turnkey commercial property consists of a two-story building with office space, storage, and a work area, as well as a six-bay garage for an on-site mechanical and repair shop, and an additional standalone garage for storage. Learn more.