A fund meant to invigorate 10 Detroit neighborhoods received a $15 million boost this week.
The Gilbert Family Foundation announced its recent investment into the Strategic Neighborhood Fund (SNF), which launches the third phase of the partnership between the City of Detroit and nonprofit financial institution Invest Detroit to improve parks and streetscapes, develop commercial corridors and create more housing in designated communities.
“The Strategic Neighborhood Fund has a proven track record of deep, coordinated neighborhood investment that has resulted in notable decreases in poverty and residential vacancy in all 10 of their target neighborhoods,” said Laura Grannemann executive director of the Gilbert Family Foundation, in a Thursday news release. “We are proud to build on this momentum and support inclusive economic growth for all Detroiters in partnership with the city of Detroit, Mayor Mike Duggan and Invest Detroit.”
Residents participate in a yearlong planning process to shape neighborhood assets, like streetscapes, corridors and parks. The goal is to reduce displacement and improve the quality of life for Detroiters. The latest round of funding will help the SNF “deepen its focus” in 10 neighborhoods:
- Jefferson Chalmers
- Warrendale/Cody-Rouge
- Campau/Davison/Banglatown
- East Warren/Cadieux
- Northwest Grand River
- Gratiot/7 Mile
- Russell Woods/Nardin Park
- Islandview/Greater Villages
- Southwest/Vernor
- Livernois-McNichols
“On behalf of the residents of Detroit, I would like to thank Gilbert Family Foundation for this tremendous commitment to continue the important work that the SNF is doing in so many neighborhoods across the city. The SNF has already made an incredible impact, and it is my hope that others will join them by investing in SNF 3.0 and the ongoing revitalization of our neighborhoods,” Mayor Duggan said in the news release.
The Strategic Neighborhood Fund started in 2016. Since then, the fund has used more than $262 million for new retail space, five renovated parks with six more on the works, 12 streetscapes and dozens of housing units.
Survey results from the University of Michigan’s Detroit Metro Area Communities Study (DMACS) in 2020 found that residents in the first three SNF neighborhoods were more likely to report being satisfied with their community, housing conditions, parks and stores. Researchers were tapped last year to conduct a follow-up study about SNF and its impact.
The $15 million investment by the Gilbert Family Foundation is a slice of its 10-year, $500 million commitment with the Rocket Community Fund to bolster opportunity and equity in Detroit. So far that has included dollars to help Detroiters avoid eviction and property tax foreclosure, fix up their homes, among other initiatives.
The Detroit Tax Relief Fund has kept 10,000 families in their homes, Grannemann told BridgeDetroit last month. The Detroit Eviction Defense Fund has provided about 10,000 families with legal counsel, to stay housed and get connected with resources, she said.
I can’t help but wonder 💭 what’s the undertow is behind this?