Owns four revitalized service-oriented community shopping centers in Chicago and Baltimore with investments from the community; nearly 350 local residents have invested an average of $2,100 and $2,300 each to purchase the properties. Raised a $50M investment fund in 2023 for an additional 12 - 20 shopping center acquisitions (to the five already owned by Chicago TREND), leveraging 70% debt financing from banks and CDFIs. Build Black wealth through community-owned shopping centers for as many as 1,000 Black residents, entrepreneurs, and small-dollar impact investors who are interested in having a meaningful ownership stake in commercial property in targeted neighborhoods ("At least 5% (and as much as 49%) of the equity of each shopping center acquired will be comprised of Black individuals, entrepreneurs, and small-dollar impact investors.").

Walbrook Junction - Chicago TREND's project utilizing Regulation Crowdfunding (on the crowdfunding platform SmallChange).

Sources and Additional Reading:

https://irp.cdn-website.com/4ae4fac4/files/uploaded/TREND%20Website%20Summary.pdf

https://www.chicagotrend.com/trend-2023-shopping-center-acquisition-strategy

https://www.smallchange.co/projects/walbrook-junction

https://impactalpha.com/chicago-trend-real-estate-fund-raises-10-million-to-create-real-estate-ownership-for-black-residents/

Information updated 10/2023

To help South Shore residents retain the value created from new investments in the community (e.g., Obama Presidential Center, Regal Mile Studios and Thrive Exchange). Initially to focus on developing commercial properties along the 71st Street corridor. The Steering Committee is comprised of South Shore residents.

Sources and Additional Reading:

https://blockclubchicago.org/2023/04/07/south-shore-residents-could-soon-invest-in-and-control-local-developments-through-a-new-project/

Information updated 10/2023

Democratic investment fund by Boston Ujima Project to finance small businesses, real estate and infrastructure projects in Boston’s working-class Black, Indigenous, and other communities of color. In 2021, met the $4.5M investment capital goal. As of 2023, has deployed $1.3M to BIPOC-owned socially impactful businesses.

Sources and Additional Reading:

https://necessary.systems/report

Information updated 10/2023

Worker-owned real estate coop. Has an integrated capital fund (with grants and impact investors) called Groundcover Fund. Fund is used to acquire and develop properties, which are subsequently placed in the Community Stewardship Trust (a cooperative trust where local community members can buy shares). The governance of the trust is by the residents and local community members.

Sources and Additional Reading:

https://www.theguild.community/pilot-918-dill-ave

Information updated 10/2023

Neighborhood real estate investment trust launched in March 2020 with three rent-stabilized properties in Los Angeles’ Echo Park neighborhood. Shares were available to anyone starting at $100 per share. Wound down after 1.5 years because operators "do not believe the business is sustainable at its current scale." At the time of the share buyback, NICO had 347 investors.

Sources and Additional Reading:

https://mynico.com/wp-content/uploads/2021/11/Nico-Echo-Park-Preliminary-Learnings-from-the-first-Neighborhood-REIT-1.pdf

Information updated 10/2023

Market Creek Partner refers to this community ownership model as "Community Development IPO" in which investors have to be within certain geographic boundaries. Resident ownership of the plaza is through the ownership of Market Creek Partners, LLC. The LLC owns the plaza and another nearby parcel. The residents together invested a total of $500,000 and own 20% of the company. The Jacobs Center (the nonprofit behind the project) owns 60 percent of the company, and the Neighborhood Unity Foundation (led by residents) owns the remaining 20 percent. Jacobs Center plans to retire its shares so it would be completely owned by residents and the Unity Foundation. The SEC's rule for IPO would have prohibited the geographically restricted IPO approach; this is why MCP only offered shares for 500 or less shareholders to be exempt from following the SEC rule. Instead of the SEC rule, MCP complies with the CA Dept of Corporations' rule.

Sources and Additional Reading:

https://ssir.org/articles/entry/the_peoples_ipo

https://core.ac.uk/download/pdf/32452078.pdf

Information updated 10/2023

Launched in 2018, focusing on acquiring and managing commercial properties in Little Tokyo in Los Angeles to provide affordable spaces for community serving and legacy businesses. Intending to work with legacy business owners that own their properties to transition the ownership under LTCIF. $1k class A and $5k class B member shares.

Information updated 10/2023

Located at Plaza 122, a 29,000-square-foot mid-century commercial retail mall in outer Southeast Portland with approximately 26 to 30 businesses and nonprofit tenants. Three hundred to 500 Portland and Gresham residents within four zip codes (97216, 97233, 97230, 97236) can follow a long-term path to collective ownership of this building in their neighborhood for as little as $10 and up to $100 per month.

Sources and Additional Reading:

https://investcit.com/Community/Detail/1

Information updated 10/2023

Feasibility study to replicate the original community investment trust in Portland by Mercy Corp, the Colorado Springs CIT will allow residents in two zip codes to invest between $10 and $100 per month into the CIT and ultimately become the owners of the development led by Solid Rock CDC. A minimum 2% dividend yearly is provided to the community investors.

Sources and Additional Reading:

https://files.height.app/b354bf34-2d2b-4338-b23f-93008698e8e3/8zmwM6YENVgXmu4Z6juM4/Colorado_Springs_CIT_Feasibility_Study_with_Appendices_1_.pdf

https://www.solidrockcdc.com/community-investment-trust/jetwing-property

Information updated 10/2023

Replicating the original community investment trust in Portland by Mercy Corp, the Capital Region CIT project site is located at 153 S. Pearl Street, Albany. Residents in specific zip codes can invest between $10 and $100 per month into the building and ultimately become the owners. A minimum 2% dividend yearly is provided to the community investors.

Information updated 10/2023

Two charitable loan funds (debt funds) focus on Massachusetts and the Northeast and invest in entrepreneurs of color leading social enterprises (both for-profit and nonprofit organizations) that build financial, social, and political power for communities of color. The second loan fund (the first one is fully deployed) will also invest in community-owned and controlled real estate (35% of the portfolio mix) that prevents displacement. The first community real estate investment was made to East Boston Neighborhood Trust. The deal includes an integrated capital stack that combines debt, equity, and grants from public and private investors, including subordinated loans from BII and philanthropic institutions, to mobilize close to $50 million.

Sources and Additional Reading:

https://docsend.com/view/e3hq4rxdb6eusm3t

Information updated 10/2023

Auxiliary Cord LLC purchased a 16,500-square-foot warehouse located at 2223 Washington Street in Evanston, IL 60202. They plan to fully renovate the building, converting it into a commercial hub (The “Aux”) for Black-owned small businesses and organizations that focus on community wellness. 100% of ownership to investors and 100% net operating income to investors. One investment one vote.

Sources and Additional Reading:

https://www.smallchange.co/projects/The-Aux-Evanston

Information updated 10/2023