{"id":1004106005,"date":"2014-10-22T20:25:22","date_gmt":"2014-10-23T04:25:22","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=300659"},"modified":"2020-04-14T01:02:41","modified_gmt":"2020-04-14T09:02:41","slug":"kresge-foundations-5-million-initiative-supports-transformation-of-detroit-neighborhoods","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kresge-foundations-5-million-initiative-supports-transformation-of-detroit-neighborhoods\/","title":{"rendered":"Kresge Foundation\u2019s $5 Million Initiative Supports Transformation of Detroit Neighborhoods"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

Now that the revitalization effort in Detroit\u2019s financial core is building momentum\u2014the M-1 RAIL Streetcar project<\/a>\u00a0broke ground recently as an unprecedented, $140 million venture between privately held businesses, philanthropic organizations and local authorities\u2014solutions are being put on the table to help the city\u2019s communities and neighborhoods rise from blight and desolation.<\/p>\n

\"Kresge<\/a><\/p>\n

Kresge Foundation logo<\/p>\n<\/div>\n

This week the Kresge Foundation of Troy, MI, launched a new initiative that aims to fund various programs created by Detroit-based non-profits over the next three years. The $5 million \u201cKresge Innovative Projects: Detroit\u201d initiative focuses on 10 projects that are ready to start and can actively transform their neighborhoods within 18 months. According to the Kresge Foundation, each of these target-projects will receive between $50,000 and $150,000, while up to ten smaller grants will be awarded to organizations that are in the planning stages but look promising enough.<\/p>\n

During the first year the Kresger initiative will invest up to $1.5 million in a pilot program, for which the first round of applications is due by December, 2, with grant recipients being announced in March next year. This pilot program will expand over the following two years, the non-profit organization announced.<\/p>\n

\u201cWe want to expand our pool of nonprofit partners, particularly those working at the grass roots, by recognizing and amplifying that energy and enthusiasm,\u201d said Rip Rapson, Kresge\u2019s president and chief executive officer.<\/p>\n

In order to be eligible for a grant opportunity, applicants\u2019 proposals must focus on vacant land transformations, development or redevelopment options for public and\/or open space, renewal of Detroit\u2019s water, waste, transportation and communication systems, as well as stabilizing the city\u2019s neighborhoods. The proposals must also be led by Detroit-based non-profit organizations, take place within city limits and comply with the Detroit Future City<\/a> strategic framework. Furthermore, applicants reaching out for a Kresge grant will have to demonstrate their projects\u2019 transformative impact on the envisaged neighborhoods.<\/p>\n

 <\/p>\n

Click here<\/strong><\/a> for more market data on Detroit<\/strong>.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Veronica Grecu, Associate Editor Now that the revitalization effort in Detroit’s financial core is building momentum—the M-1 RAIL Streetcar project broke ground recently as an unprecedented, $140 million venture between privately held businesses, philanthropic organizations and local authorities—solutions are being put on the table to help the city’s communities and neighborhoods rise from blight and […]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21742],"tags":[],"class_list":["post-1004106005","post","type-post","status-publish","format-standard","hentry","category-detroit","category-latest"],"acf":[],"yoast_head":"\nKresge Foundation\u2019s $5 Million Initiative Supports Transformation of Detroit Neighborhoods - Commercial Property Executive<\/title>\n<meta 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