Today, Loan Officer Southeast Region Natasha Dowell joined Mayor Andre Dickens, developer Focused Community Strategies (FCS), partners, fellow LIIF staff and community members for the groundbreaking of Brownsville Pointe in Atlanta.
Natasha Dowell’s Speech
I am honored to be with you all here today as we celebrate this community win for Southwest Atlanta, and our City overall. Today is not just about breaking ground with gold shovels: We are breaking ground on the foundation of tomorrow’s opportunity for this community’s residents.
The Low Income Investment Fund strategically invests in historically undercapitalized neighborhoods across the nation, with $3.9 billion invested since our 1984 inception. In this case, we provided early-stage catalytic capital for Brownsville Pointe right here in Atlanta where we have a regional office and have partnered with local developers across the city on numerous transformative affordable housing initiatives over the years.
LIIF is driven by one clear belief: that everyone in the United States should benefit from living in a community of opportunity, equity and well-being. That is why we were committed to Brownsville Pointe and FCS from the start. In fact, our partnership started four years ago when we initially supported FCS with a $500,000 capital grant to jump-start Brownsville Pointe. That was later followed by a $500,000 Equity with a Twist loan, which is LIIF’s 10-year, low-cost, enterprise-level investment. Finally, LIIF provided a $1.55 million construction-to-permanent loan. That’s three different financing products totaling over $2.5 million dollars.
While we invest in buildings, we know our work is ultimately about the people in the buildings … and the surrounding community members. FCS and its partners brought in community voice, and LIIF is pleased to see that the request for a much-needed gathering space will come to life at Brownsville Pointe, with community building the goal.
It should also be noted that FCS is a quarterback for Purpose Built Communities, which is a longtime LIIF partner headquartered in Atlanta. That $500,000 Equity with a Twist loan I mentioned earlier came out of this partnership. Much like a quarterback on a football team, these organizations have a three-pronged strategy:
- Lead collective strategy;
- Create an integrated approach to community development across sectors such as housing, health and education;
- And align partners from the public and private sectors to achieve neighborhood-level impacts.
FCS exemplifies this Purpose Built Communities model.
I look forward to returning to this same spot in the future to attend the ribbon-cutting ceremony when the community’s vision becomes reality. Today, we build tomorrow.
While we invest in buildings, we know our work is ultimately about the people in the building.
LIIF Loan Officer, Southeast Region Natasha Dowell