Capital Impact Partners: Enriching Atlanta’s Developer Resources

Atlanta Real Estate Forum Radio

Tommy Lester, manager of Atlanta Initiatives for Capital Impact Partners and David Greisman, spokesperson for Capital Impact Partners, join host Carol Morgan for this week’s Atlanta Real Estate Forum Radio episode. In this podcast segment, Lester and Greisman discuss the Equitable Development Initiative. Born and raised in Atlanta, Lester has over 25 years of experience in banking, financing and investing in the area’s rich real estate. Greisman joined Capital Impact Partners a few years ago, bringing a fresh perspective to the mission-driven institution. Capital Impact Partners is a community development financial institution that seeks to provide community organizations with the necessary financing to thrive. What does that look like? Capital Impact Partners helps developers combine affordable housing, better access to healthcare and education, healthier food selection and cooperative developments. It works with its sister organization, CDC Small Business Finance, to specifically assist small businesses. The Equitable Development Initiative (EDI) is an excellent way for emerging real estate developers to come together and learn new tips and tricks of the trade. Previously successful in Detroit, Washington D.C., the San Fransico Bay area and Dallas, Texas, this nine-month program encourages developers to continue their education and connect with others in the field. Lester said, “It helps people get their businesses in line to be able to accept funding from major sources and do bigger deals,” said Lester. “At the same time, it exposes them to lenders and funders who are ideal for them, whether it's because of their project type or their social mission.” Throughout the program, Capital Impact Partners works with real estate developers to take their projects to the next level through various aspects like financing, site acquisition and more. Applicants should be established in the real estate industry; this cohort program is not for individuals looking to break into development. This year, 35 applications were turned in, and the list of 15 finalists will be published soon. “We're really strategic about making sure that the people that are part of the program are from this community,” said Lester. “It's not open nationwide, it's open to people specifically from here.” Capital Impact Partners is proud to work with numerous local partners in Atlanta, including House ATL, Reinvestment Fund and the Wells Fargo Foundation’s Growing Diverse Housing Developers program. Together, these institutions and organizations serve metro Atlanta in DeKalb, Clayton, Cobb, Fulton, Gwinnett and Douglasville counties. By targeting areas of growth, Capital Impact and its partners can ensure that the needs of these communities are met. Greisman said, “We've seen people who are committed to affordable housing come in and be able to grow their businesses and do more to help the communities.” How does the EDI program contribute on a larger scale? A pre-course evaluation gives instructors and speakers a starting point for each participant. Individual strengths and weaknesses are noted and then re-evaluated at the end of the nine-month cohort. Participants then present their projects to an audience and are judged on quality and other factors. “Every unit and every building that these developers work on is helping be part of the solution,” said Greisman. “Again, it is a very complex ongoing issue, but being able to help these local developers is going to provide part of that solution and help the people who really are the backbone of these communities.” Tune in to the full interview above to learn more about Capital Impact Partners, or visit www.CapitalImpact.org. 9/9/2024 update. Participants include: Ray Acosta, Dacula Miles Alexander III, Jonesboro Terry Brantley III, Atlanta Shelita Compton, Kennesaw Aaron Davis, Decatur Ashley Davis, Mableton Majesty Gayle, Atlanta Derrick Holland, Tucker