Regional Acceleration Center
About the project
Build Wealth, MN, Inc (Build Wealth) was founded in 2004 with a mission to strengthen underserved communities by empowering families to build sustainable social and economic wealth. The Stairstep Foundation was founded in 1992 to support the revitalization of the spirit of community among African American people through community economic development.
Both organizations are headquartered in Minneapolis, MN.
LISC provided $1.38 million in financing to enable the sponsors to acquire the Regional Acceleration Center (RAC) in North Minneapolis. Completed in 2018, the sponsors will preserve the building as a community asset, housing nonprofit and commercial tenants.
Partner:
Build Wealth, MN, Inc. &
Stairstep Foundation
Location:
Minneapolis, MN
Total Investment:
$1.38 million
Results:
40 jobs created or preserved
Project Category:
Employment Generation
Product:
Refinancing Debt
Website:
buildwealthmn.org
stairstep.org
UN SDGs:
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