OUR OBJECTIVES

Our program provides small developers with more flexible capital. Five practical objectives pave the way:

  • 01

    Renovation and rehabilitation of existing single-family assets to create quality affordable homeownership opportunities for low and moderate income (LMI) households that are often minorities.

  • 02

    Enabling first-time developers/grad students to expand their capacity and business activities by:

    (a) Increasing access to flexible financing and business support for small developers who have the technical skills and experience to execute a project but who may lack access to capital due to credit challenges

    (b) Focusing on the real estate versus the small developer credit profile

    (c) Identifying and partnering with universities and various organizations that can identify the developers and provide small business wraparound services

  • 03

    Providing apprenticeship opportunities to recent graduates as well as within the community by hiring and training local talent.

  • 04

    Investing and providing opportunities for recent minority graduates from Real Estate Development program.

  • 05

    Promoting network opportunities with other small developers by creating a Cohort Space that enables the participants to brainstorm and share learning experience.

CASE STUDY: BALTIMORE

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CASE STUDY: BALTIMORE •

Homeownership has long served as the most accessible path for wealth creation in the United States. Unfortunately, not everyone gets equitable access.

WE TOOK ACTION.

In order to mitigate obstacles to homeownership for underrepresented community members, EVI created and executed Developers Apprentice Program (“DAP”).

WE CREATED OPPORTUNITY.

DAP enabled five individuals to learn and participate in community redevelopment through working on rehabilitation of five separate row houses in Baltimore.

By partnering up with the Reinvestment Fund the program was able to revitalize the Greenmount West neighborhood by converting dilapidated/vacant houses, located on the same block, into quality affordable single-family homes.

WE SAW REAL CHANGE.