Summer Newsletter: Community-driven Improvements for Historic Philadelphia Park, Uniting on the Promise of Black Higher Education, and more
Community-driven Improvements for Historic Park
Reinvestment Fund financing is supporting the rehabilitation and transformation of FDR Park’s historic guardhouse and adjacent stables into a new “Welcome Center,” as well as the construction of a new destination playground called Pattison Playground. The Fairmount Park Conservancy, a 501c3 nonprofit that supports efforts to improve Philadelphia’s parks, is leading the large-scale renovation project to make FDR Park more inviting and accessible for community residents and address longstanding flooding issues that are getting worse due to climate change. As part of the planning phase, nearly 3,000 community members and stakeholders, speaking seven languages, offered feedback on a reimagined park. The two projects are the first of a larger $250 million master plan that will support FDR Park, which has been an important community asset in South Philadelphia for more than 100 years.
Uniting on the Promise of Black Higher Education
Reinvestment Fund is committed to serving the needs of Historically Black Colleges and Universities (HBCUs) and since 2018 has provided $35 million in investments to strengthen their financial health and fund capital projects. To reinforce our commitment, we launched the HBCU Brilliance Fund to raise additional capital from private and philanthropic partners.
Recently at UNCF’s UNITE Conference in Atlanta, Reinvestment Fund presented on the HBCU Brilliance Fund and our commissioned report, entitled A Call to Action for HBCU Investment. Produced by Brookings Metro, the report lays out a roadmap for private, philanthropic, and government institutions to provide capital to HBCUs and maximize community development impact – offering a better understanding and insights into meeting the needs of HBCUs as critical institutions in the communities in which they operate.
News & Resources
- We stand in solidarity with Edward Waters University and the Jacksonville Community following the racially motivated shooting on Saturday, August 26th. Read Reinvestment Fund’s official statement.
- Welcome to Reinvestment Fund’s new staff: Isabel Andrews, Kahfii King, Gabe Orduña, Burcu Aydemir, Alicia Crawford, Angela McDaniel, Natalie Rauchle, Ian Parnell, and Sean Burke.
- Reinvestment Fund names Christina Szczepanski, CFA, as President – Lending and Investing and Kareem E. Thomas as Chief Credit Officer. Read the official announcement.
- Spotlight on Reinvestment Fund’s 2023 Summer Interns.
- On Good Day Atlanta, Reinvestment Fund’s Lawrence Smith joined Janean Lewis, the Senior Policy Advisor to the Mayor, Youth Development and Education, City of Atlanta, to share a new grant opportunity for early childhood education providers.
- We’re financing the Historic Lansdowne Theater restoration project. While preserving the theater’s unique architectural detail, the transformation to a modern concert venue and community hub will be catalytic in reinvigorating Lansdowne’s Central Business District.
- Leading sustainable energy & community finance organizations are joining forces to pursue the National Clean Investment Fund mandate. Reinvestment Fund is pleased to join the Climate United consortium.
- Reinvestment Fund will support the construction of Feeding Tampa Bay’s new headquarters. The facility, which broke ground in February 2023, will serve as a hub for food distribution, workforce development, a community store, and other critical services to address the root causes of food insecurity and poverty.
- Reinvestment Fund researchers are partnering with the Philadelphia Office of Community Empowerment and Opportunity on their recently launched Guaranteed Income Pilot Study. The yearlong study examines the effects of unrestricted public assistance.
- Healthy Food Financing Initiative expands to include local and regional partnerships. Learn more about the opportunity; register for the informational webinar on September 7th.
Meet the Developers: The Growing Diverse Housing Developers Video Series
In this interview with Joel Dixon, Co-Founder and Principal of Urban Oasis Development, he highlights the challenges he has faced as a Black developer. He also shares the importance of accessing the right type of capital for community investment.
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