Invest Detroit

Invest Detroit and The City of Detroit are thrilled to announce the launch of Phase 3 of the Strategic Neighborhood Fund (SNF) with a goal of raising $40 million to continue revitalizing our neighborhoods! With $23 million already committed in phase 3—including a $15M grant from the Gilbert Family Foundation and a $5M grant from the Ralph C Wilson Foundation—this phase will deepen the impact in 10 neighborhoods, creating more affordable housing, improved commercial corridors, and vibrant public spaces. Since its inception in 2016, SNF has invested $262 million, resulting in 10 neighborhood framework plans, 78k SF of commercial space constructed, 378 total housing units created, 86 Homes rehabbed 7 park renovations completed with 4 more in progress and 12 Streetscape projects. As Jermaine Ruffin, SVP of Neighborhoods at Invest Detroit, says: “The heart of Detroit lies in its people, and by nurturing its neighborhoods, we’re investing in its future.

Dreamtroit began as a straightforward request for pre-development financing, but it quickly evolved into one of the most complex projects Invest Detroit has ever been a part of. Today, what was once the original Lincoln car factory has been transformed into a vibrant mixed-use artist community, featuring affordable housing, retail, live-work units, the city's recycling center, and an art park. Our very own Mike Vieregge, Senior VP of Lending, joined Mayor Duggan, along with lenders and partners such, Council President Mary Sheffield, Capital Impact Partners, IFF (CDFI), LISC Detroit, Michigan Economic Development Corporation, and many more at a ribbon-cutting ceremony years in the making. Mike V. shared his experience working on this complex, collaborative, and community-oriented development, proudly standing with developers Matt Naimi and @oren gold Oren Goldenberg, who carried a custom boxing robe they made just for him—a symbol honoring his dedication to fighting for the developers and their project. This $30M transformation of the historic Lincoln Motor Factory showcases how Detroit's unique partnerships among the lending, state, and development communities bring projects to life that preserve both architecture and culture in our city. #Detroit #development #PeopleFirst #collaboration 

We’re proud to celebrate Jason Barnett, Senior Vice President of Lending at Invest Detroit, for being named a Notable Black Business Leader by Crain’s Detroit Business! Jason has co-led our small business lending program, deploying nearly $30 million to over 100 small businesses in Detroit. He also co-created the Motor City Contractor Fund, a groundbreaking initiative aiming to raise $25 million to support over 350 contractors of color. https://lnkd.in/eJ7caiBw

Exciting news from the new Program Manager of the @motorcitycontractorfund, Shenai Jackson! We’re thrilled to announce the launch of the second cohort of MCCF. This initiative is designed to fuel the growth of Detroit-based contractors by providing: - 10 months of technical assistance - Coaching and supportive resources - Funding Opportunities Ready to take your business to the next level? Don’t miss out on this incredible opportunity! https://lnkd.in/e--YaJXC #MotorCityContractorFund #DetroitContractors #BusinessGrowth #ApplyNow #MCCF

Jennifer Hayes, our Senior Vice President of Operations & Policy, recently shared insights at OFN’s “From Main Street to Capital Hill” panel. Jenn illuminated the transformative role of storytelling in connecting CDFI work with policymakers, emphasizing how compelling narratives forge bridges, foster deeper understanding, and inspire coalition building. #cdfi #policy #community #lending #coalition

We’re excited to announce an open position at ID Ventures! We are looking for a dedicated and organized Executive Assistant to join our dynamic team. The Executive Assistant is a pivotal role, directly supporting the Executive Vice President of Venture and coordinating the activities of an 8-10 person investment team. This role is essential for maintaining organizational efficiency, streamlining processes, and facilitating effective communication both internally and externally. 📌 Interested in learning more? Visit our careers page for full details and to apply. https://lnkd.in/d7XvM7R

On June 19, 1865, the last enslaved African Americans were informed of their freedom. Today, we honor this historic moment and continue the fight for equality. At Invest Detroit, we’re dedicated to increasing opportunities for Black and Brown business owners and developers. We believe in building thriving communities for everyone. In celebration of Juneteenth, our team is helping to clean up Clark Park, one of the many projects funded by the Strategic Neighborhood Fund. Over $1 million has been invested in this park, featuring amenities like ziplining, basketball courts, and a community center. Instead of our planned company lunch, we’re donating it to the Pope Francis Center, which is providing a cool, safe space for the community during today’s extreme heat. A special shout out to Cristina Thibodeau for spearheading and organizing our day of service! Happy Juneteenth!

Keona Cowan, our Executive Vice President of Lending, joined Clifford A. Brown , his dedicated team at Woodborn Partners, and city leaders to celebrate the grand opening of The Brooke on Bagley in Southwest Detroit. This $23M development features 78 apartments, with 16 reserved for residents at 80% AMI, bringing much-needed quality affordable housing to the community. Residents will enjoy amenities like a fitness center, dog park, and community event spaces and is right across the street from Honey Bee Market. The Brooke on Bagley is the first project to utilize the Ebiara fund which is celebrating 2 years of supporting black and brown-owned development firms in Detroit. Located near Michigan Central Station and the Southwest Greenway, residents will have easy access to Detroit’s best urban living and community spirit. The design reflects the rich culture of Southwest Detroit, featuring colorful, textural details and local art. Thanks to our partners, including Capital Impact Partners, the Michigan Strategic Fund, the Detroit Economic Growth Corp., and many more, for supporting this transformative project.

Interested in working with us at Invest Detroit? We're Hiring for Two Exciting Positions! Small Business Support Manager: Lead, design, and manage a coaching program to help startups and established businesses thrive. Provide personalized one-on-one coaching and strategic advice to empower entrepreneurs with effective business strategies and leadership skills. Senior Portfolio Risk Manager: Independently manage a diverse loan portfolio, including small business, commercial, real estate, and construction loans. Monitor risk profiles, conduct reviews, test loan covenants, and analyze troubled loans. Learn more in our job announcement. Visit https://lnkd.in/d7XvM7R for details!

We were thrilled to join Representatives Alabas Farhat, Jason Hoskins, and Greg VanWoerkom as they announced The Michigan Innovation Fund. This bipartisan initiative would provide $105m to a coalition of five impactful, established Michigan-based nonprofit early-stage evergreen funds as well as providing additional increased funding to key partners in the ecosystem. This critical investment targets the urgent need for early-stage funding—a gap that has been draining Michigan of jobs and entrepreneurial talent. The Fund is an answer to the competition from other states, providing substantial resources to ensure that high-potential startups have the support they need to grow and prosper right here at home. The Michigan Innovation Fund is a strategic move to bolster long-term investments in our startups, diversify our economy, create jobs, and establish a competitive and enduring support network for entrepreneurs across the state. This is about more than just funding; it's about creating an evergreen financial ecosystem that grows, supports, and reinvests in Michigan's economic future. A special thank you to the coalition, including Ann Arbor SPARK, ID Ventures, Michigan State University Research Foundation, University of Michigan Accelerate Blue Fund, and the BRCC at Western Michigan University who work to fund high-growth businesses, empower entrepreneurs, and inspire innovation in the startup ecosystem every day. We extend our gratitude to Governor Gretchen Whitmer for including the Michigan Innovation Fund in her budget recommendation and to our legislative champions for their unwavering support. Learn about the Michigan Innovation Fund at mi-innovationfund.com. Newlab Monica Wheat Patti Glaza Garrett Winther Jeff Wesley Michael Psarouthakis Paul Krutko FM HLM Ara Topouzian