Excerpts from the story:
Detroit's long-forgotten neighborhoods are changing -- new housing, new shopping, increased cleanup -- thanks in no small part to a major national funding group that's dumping millions into communities with hopes of rebuilding them from the ground up.
The Local Initiatives Support Coalition is the largest financing group for community redevelopment in the nation. Located in 33 cities, and in Detroit for 16 years, the nonprofit uses federal grants, tax credits and private, corporate and public dollars to help fund revitalization projects and nonprofit groups.
With LISC's support, several city projects have gotten off the ground, such as the Mexicantown Mercado and Welcome Center and the Mack-Alter Square commercial development on the east side. Tenants are still moving in to the 60,000-square-foot retail, banking and restaurant project on both sides of Mack in an area untouched by development for decades.
LISC tries to make "the most risky, early investment" in declining neighborhoods, said Anika Goss-Foster, senior program director.
The group launched a Neighborhoods Now program last year and since then has provided $23 million to 19 groups for 12 real estate developments and other projects in the city. Eventually the program will spend $40 million, Goss-Foster said.
In addition to dollars, LISC requires and provides support for local nonprofits to work together.
"It's more about how do you build the entire neighborhood, instead of this project here, that project there," Goss-Foster said. "We help facilitate the process with urban planners and facilitators holding community meetings. We're open to whatever plans they come up with."
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