Block by Block is a solutions journalism series that is supported by CEDAM, Michigan CDFI, and Invest Detroit, and is focused on community development leaders and initiatives in Michigan.
IFF, a Community Development Financial Institution, empowers underserved communities through flexible, nontraditional lending. By supporting organizations like Family Promise and Detroit Phoenix Center, IFF is helping prevent displacement, expand services, and break down barriers. Their unique, mission-driven approach enables organizations to support more people and create lasting, positive community impact.
For more than 35 years, Christi Coady Narayanan led the transformative work of the Opportunity Resource Fund (OppFund), as the President and CEO of the nonprofit community development financial institution. She retired last month, passing the torch to the new President and CEO Byna Elliott, to continue the organization’s unwavering commitment and innovation in empowering individuals, businesses, and communities all over the state.
Michigan’s first-ever Statewide Housing Plan was released in June 2022, almost three years ago. A little over the halfway point of the comprehensive five-year plan, stakeholders and collaborative partners look at just how critical regional housing partnerships are in their own communities — moving the needle forward across the entire state.
CDFIs or community development financial institutions care deeply about the neighborhoods in which they live, work, and serve. Within the Detroit CDFI Coalition, these nonprofit financial institutions often collaborate together to provide an even more amplified catalyst of growth, prosperity and revitalization throughout unique communities across Detroit.
For the past 10 years, IFF has been investing and committed to providing community financial support across Michigan, including Eastside Detroit neighborhoods. Some of their latest projects fill the gap by providing high-quality accessible, affordable childcare at Detroit Prep, and McClellan Early Childhood Center.
FHLBank Indianapolis HomeBoost program offered up to $15,000 in down payment and closing and counseling costs assistance in its pilot year. For the program's return, those who qualify can receive up to $25,000.
Traverse City's Commongrounds is a mixed-use building, offering affordable housing, co-working space, a coffee shop, child education center, and performance venue. It's the first real estate cooperative in northern Michigan.
Quality child care is necessary, but not always available or affordable. The MiLEAP Caring for MI Future: Facilities Improvement Fund has launched a $59 million fund to provide new and expanding home-based and center-based facilities across the state.
Michigan communities are repurposing spaces to bring services, create meeting places, and meet the many needs of neighborhood residents.
As part of the Region I Regional Housing Partnership, the Capital Area Housing Partnership and the Tri-County Regional Planning Commission are tasked with developing local action plans to address the housing crisis. City and state government, neighborhood developers including Forsberg Real Estate, and area nonprofits are working together to address homelessness in greater Lansing and to attract residents to Eaton Rapids.
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