Reinvestment Fund Summer Newsletter
Weavers Way Opens New Germantown Location with Support from Reinvestment Fund
Weavers Way Cooperative opened the doors to its new store in Germantown, Philadelphia, enhancing access to healthy and organic food for the community.
“At Reinvestment Fund, supporting projects like Weavers Way’s new store is central to our mission of building strong, equitable communities,” said Don Hinkle-Brown, President and CEO. Reinvestment Fund provided financing as well as grants through the USDA-funded America’s Healthy Food Financing Initiative (HFFI), which has awarded over $25 million to food retail projects nationwide.
Anne Misak, Program Director for HFFI at Reinvestment Fund, emphasized, “We are delighted to support Weavers Way Co-op in creating equitable, healthy food systems and local jobs.”
Weavers Way engaged with Germantown residents to ensure community needs were prioritized. In a speech at the ribbon-cutting ceremony, Elizabeth Frantz, Senior Director at Reinvestment Fund, stated, “Our partnership with Weavers Way aligns with our mission to support vibrant communities.”
As Weavers Way celebrates its 50th anniversary, we are proud to have supported their expansion, including other locations in Northwest Philadelphia.
Two Atlanta-based Developers are Joining Forces to Preserve Affordable Housing
In a joint venture, two Atlanta-based Housing Developers are partnering in the acquisition, renovation and re-stabilization of the Square at Peoplestown in the Summerhill neighborhood. The multi-million dollar project supported by Reinvestment Fund and led by two BIPOC-owned development firms—Atlantica Properties and Domos—represents a significant shift toward the preservation of affordable housing in the community.
Dunn and Alexander are two of the nine cohort members in the Growing Diverse Housing Developers (GDHD) Initiative working directly with the Reinvestment Fund. Reinvestment Fund supports its cohort members through flexible and creative financing solutions intended to help the developers grow their businesses and create more equitable communities. In the second year of the initiative, we continue to gain deeper insights into how to best support developers in pursuit of a common goal of affordable housing equity and increased diversity within the housing industry.
Funded by the Wells Fargo Foundation, GDHD is a four-year initiative led by four Community Development Financial Institutions (CDFIs).
News & Resources
- Welcome to new staff Donna Nuccio and Seth McClerklin.
- Our 2023 Investor Report is available now!
- Our commitment to Race, Equity, and Inclusion (REI) is the keystone for our organization. Read our recent statement.
- The Kresge Foundation invests millions into Reinvestment Fund’s HBCU Brilliance Initiative.
- Mayor Andre Dickens announced Atlanta’s inclusion as one of 16 public-private partnerships to benefit from the new HFFI Partnerships Program.
- Announcing a new program, the HFFI Food Access and Retail Expansion (FARE) Fund, that will provide $60 Million in loans, grants and technical assistance to food retail and food retail supply chain projects.
- With a solar presence in 17 states and Washington, D.C., our partnership with Sunwealth enables Reinvestment Fund to invest directly in community-based solar projects that benefit people and the planet.
- Next City Org’s latest podcast features the story of affordable housing developer and Growing Diverse Housing Developers Initiative participant, Dr. Gina Merritt.
- After saving a 3-bedroom property from foreclosure, a new developer fixed up his first property with support from Jumpstart North Philly. Jumpstart, a Reinvestment Fund borrower since 2019, is a citywide training program designed to help new developers succeed.
- Reinvestment Fund is supporting a transformational project led by Hudson Valley Property Group, which is setting a new standard for affordable housing in Camden.
- Detroit Food Commons, home to the Detroit Peoples Food Co-op, opened the doors to its new community-operated grocery store. Develop Detroit, a nonprofit real estate developer, received a grant award through the HFFI targeted small grants program in 2021 to support the project.
- Announcing the awardees of the Sustainable Development Fund 2023 pilot Grant Program. The grant supports energy efficiency and renewable energy projects and outreach in the Philadelphia area.
- Congratulations to Reinvestment Fund borrower, Beloved Community Services Corporation (BCSC), led by Dr. Alvin C. Hathaway, on the historic renovation and grand opening of the Justice Thurgood Marshall Amenity Center!
Grant Opportunities & Announcements
- New Jersey Innovative Healthy Food Retail Initiative: A new grant program that supports community-led, innovative food retail projects that improve access to healthy food and promote economic growth in low-income, underserved areas of New Jersey.
- HFFI FARE Fund: Over the next 5 years, the new program will provide $60 million in loans, grants, and technical assistance for the predevelopment, planning, and implementation of eligible food retail and food retail supply chain projects. A full Request for Applications (RFA) for the HFFI FARE Fund will be released in August 2024.
“Over the years, America’s HFFI has continued to expand and create opportunities for innovative, community-based solutions that lead to a more equitable food system where everyone thrives,” said Don Hinkle-Brown, President and CEO. “I am incredibly proud of the work we have done thus far to increase access to fresh foods and look forward to how the HFFI FARE Fund will help even more communities across the country.”
Over the next 5 years, the new program will provide loans, grants, and technical assistance for the predevelopment, planning, and implementation of eligible projects aiming to increase, strengthen, expand, and innovate within the food retail supply chain. As a result of funding allocated by Congress in the American Rescue Plan Act, the HFFI FARE Fund will be available for rural and urban communities. Read the press release.
FOX’s Eben Brown speaks with Emily Dowdall, President of Policy Solutions at Reinvestment Fund, who explains how home prices became so unaffordable and how they can be lowered. 🎙️ Listen on Spotify.
Work With Us
- Commercial Loan Closer
- Director, Policy Solutions – Southeast
- Loan Officer (Director), Clean Energy & Sustainable Finance
- Senior Loan Officer (Senior Director), Southeast
- Student Internships
Check back for new opportunities: Careers at Reinvestment Fund