Grants for Black Real Estate Developers in Minnesota

Mass Cultural Council has launched a new grant program, Creative Projects for Schools, for the 2024-2025 school year.

Donor Name: Jay and Rose Phillips Family Foundation

State: Minnesota

City: Selected Cities

Type of Grant: Grant

Deadline: 10/09/2024

Size of the Grant: Up to $15,000

Grant Duration: Grant Duration Not Mentioned

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.

Eligible Expenses

Inspection fees, architecture, accounting and legal fees, engineering, project management, permits and other regulatory fees, third party or Phase I reports.

Eligibility Criteria

These grants will support Black real estate developers with site control of commercial or “missing middle” (5-unit minimum) residential 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.
Applicants who have already received funding through this opportunity are not eligible to apply for funding for the same project. Priority will be given to first-time applicants. Priority will also be given to applicants who are North Minneapolis residents, and to projects that incorporate universal design or sustainability attributes.

Eligible Applicants