Capital Impact Partners: Year One Evaluation of the Detroit Program and Stay Midtown
Capital Impact Partners (Capital Impact) is a national community development financial institution (CDFI), engaged in a place-based investment approach to its activity in Detroit. In addition to lending for mixed-use project development, Capital Impact invests in policy and research, programmatic support, local capacity building, and other community development-related activity. This place-based approach is different from Capital Impact’s lending activity nationwide; it involves concentrated investment activity in one place in order to stabilize the real estate market enough to attract private investment in the area. Special attention was given to development aimed at increasing density and increasing income mix at the neighborhood level.
In September of 2016, Capital Impact contracted with Thoughtwell (previously Community Research Partners) to perform research and evaluation services for their Detroit activities, specifically, the Detroit Program (DP) and the related resident retention strategy (RRS), Stay Midtown.