The Northside Commercial Real Estate Advisory Committee of the Jay and Rose Phillips Family Foundation of Minnesota is pleased to announce that it will distribute $100,000 in grants to Black real estate developers in North Minneapolis.
Donor Name: The Jay & Rose Phillips Family Foundation
State: Minnesota
City: Minneapolis
Type of Grant: Grant
Deadline: 09/25/2023
Size of the Grant: up to $15,000
Details:
With these grants, the Phillips Foundation aims to alleviate smaller financial burdens that often hinder the success of developers who come from a historically marginalized community and have limited representation in the field of real estate development. Grants will cover pre-development costs for Black real estate developers with site control of North Minneapolis commercial and “missing middle” (5-unit minimum) residential real estate projects.
Funding Information
- The Phillips Foundation plans to award up to $15,000 per grant application based on eligibility and project readiness.
- Grants are available for predevelopment soft costs for real estate projects focused on commercial or missing middle (5-unit minimum) properties. Grants can also be used as matching funds for other funding opportunities.
Eligible Expenses
Inspection Fees, Architecture, Accounting and Legal Fees, Engineering, Project Management, Permits and Other Regulatory Fees, Third Party or Phase I Reports.
Who is Eligible to Apply?
These grants will support Black real estate developers with site control of commercial real estate projects located in North Minneapolis, prioritizing neighborhoods connected to West Broadway Avenue and other transit corridors in the area. These neighborhoods include: Cleveland, Harrison, Hawthorne, Jordan, McKinley, Near North, Sumner-Glenwood, Victory, Willard-Hay, and Webber-Camden. Priority will also be given to applicants who are North Minneapolis residents, and to projects that incorporate universal design or sustainability attributes.
For more information, visit TJRPFF.
