Atlanta is often listed among the top-ranked cities for creativity, known for its street-art scene, deep musical heritage and booming creative economy—but the space to grow isn’t always accessible to small-scale entrepreneurs. Looking to expand, fill a unique niche and foster community, the Koncept House has acquired a second commercial space. The project will revive a landmark commercial building in the Capitol View neighborhood of Atlanta and transform it into a unique and inviting space for makers, creatives and e-commerce entrepreneurs to spread out and set up shop. Reinvestment Fund financing will support the acquisition and rehabilitation of the 15,000-square-foot property, which sits directly across the street from the Metropolitan Library—a community staple that also serves as a “cultural center.” In addition, the project sits conveniently just blocks away from the nearest Atlanta Beltline spur and is accessible to local bus lines.
In Philadelphia, 2022 marks the first year since 2011 that the number of home purchase mortgage applications and the number of refinance mortgage applications both declined, according to the latest Home Mortgage Disclosure Act (HMDA) data release. Reinvestment Fund’s Mortgage Lending in Philadelphia: Key Take-Aways from the 2022 Home Mortgage Disclosure Act Data Release suggests a shift in the local housing market—one defined by higher home prices and higher interest rates. Other takeaways from the HMDA show a widening gap in access to mortgage credit between borrowers of different races and ethnicities, specifically Black and Hispanic borrowers receiving elevated denial rates compared to their white counterparts, regardless of their financial qualifications. The report, featured in the Philadelphia Inquirer, also illustrates the patterns of purchasing activity of Black, Hispanic and White borrowers over the past decade showing shifting demographic and economic boundaries across the city.