810 East Lake

About the project

Neighborhood Development Center (NDC) is a nationally-recognized community development financial institution and non-profit organization that has a 25-year track record of successfully helping aspiring entrepreneurs in low-income communities start and grow businesses that help revitalize those communities from within. In NDC's model, place-based, culturally competent training, financing, and long-term support of successful entrepreneurship empowers low-income individuals and families in high-need priority neighborhoods to rise from poverty and dependence and become economically self-sufficient, as well as become contributors to the development and economic and social revitalization of their own communities and neighborhoods. NDC accomplishes this through four place-based, culturally competent integrated programs: entrepreneur training, small business lending and financing, technical assistance, and business incubators.

Neighborhood Development Center is located in Saint Paul, MN.

LISC provided a $1.28 million acquisition loan to NDC to assist them in acquiring a property at 810 East Lake Street in South Minneapolis, at the historic Lake Street & Chicago Avenue intersection. The property was previously a two-story commercial building that burned down in the civil unrest following the murder of George Floyd by Minneapolis Police in 2020. This site has been identified as a high priority for equitable, community-driven redevelopment by a number of community partners and leaders. NDC envisions a community inspired, commercial-led, mixed-use transit-oriented development (TOD) project. This loan is being made as part of the Twin Cities Community Asset Transition (CAT) Fund, which was created to enable the acquisition of commercial and residential properties in or near the cultural districts that were impacted by the civil uprising following the murder of George Floyd. The goal of the CAT Fund is to transform the nature of property ownership in impacted areas to build the income, wealth, and resilience of BIPOC communities.