Emerging Developer Growth Initiative
LISC Indianapolis launched the Emerging Developers Growth Initiative to support emerging BIPOC developers, both for-profit and nonprofit, in driving positive change and improving quality of life through real estate development. By providing a tailored, multi-disciplinary curriculum, connections to industry leaders, and low-interest capital, this program equips developers with the resources to navigate barriers in the commercial real estate industry.
LISC's Emerging Developers Growth Initiative aims to:
- Drive positive change and improve quality of life through real estate development
- Offer tailored, multi-disciplinary curriculum and connections to industry leaders
- Provide low-interest capital to navigate commercial real estate barriers
- Promote diversity and inclusion in the real estate industry
- Empower developers to enhance neighborhoods and communities
Our Approach:
Capital
LISC deploys equity supports, closing costs awards, acquisition, and predevelopment and construction financing to emerging developers, resulting in a new affordable housing supply.
Connection
- Monthly Meetings: Focus on real estate development challenges and opportunities in Indianapolis.
- Capacity Building: Combines mentorship and peer learning with experienced developers.
- Topics: Design support, regulatory issues, LIHTC development, joint venture partnerships, investment projections, bond structuring, investor negotiations, re-syndication
Curriculum
- Collaboration with training partner for project-level technical assistance to enhance project quality for loan underwriting and strengthen neighborhood impact.
- Training Components: 1) Recruitment Lecture 2) Small-Scale Development Workshop 3) Boot Camp
Funder
Urban League
Funder