WSDI has developed a series of programs and services that will address these problems. Our goal is to provide the upfront funding for emerging women developers so that they can perform feasibility studies, gain site control, complete conceptual design and be ready to seek pefinancing. We also hope to connect them to a broad audience of women funders (venture capital, family office and others) that are seeking to finance women-led projects and help build a culture of women financing women founders.
WSDI provides a forgivable loan to qualified emerging women developers for business operating expenses and predevelopment activities for approved projects. Each loan will be up to $100,000 and be forgivable upon certain circumstances. Loans are repayable upon closing of permanent financing. Each participant will receive extensive technical assistance, direct services and pro-bono services designed to prepare the developer to secure permanent project financing sources. WSDI will connect the participants to an international network of venture capital and angel investors, family offices and other potential investors that are predominantly led by women. WSDI provides up to six (6) loans per year through a competitive application process.
WSDI is in the process of launching a private fund for projects sponsored by women real estate developers located in Michigan low-income census tracts, Community Reinvestment Act (CRA) areas, or federally-designated opportunity zones. Priority will be given to women developers who are Black, Indigenous, or Persons of Color (BIPOC). Funds will be used for post-predevelopment activities including acquisition, construction and operating expenses.
Topics may include:
Concept: Market feasibility, Design, Programming
Team Building: Identifying service providers, determining contract structures/fee structures
Site Selection: Due diligence
Financial: Pro Forma Development, Private Equity 101,
Community: How to engage on your project
Construction: Estimating, Contracts, Management
SUPPORT AND ENRICHMENT
WSDI curates and manages multiple networks of established and emerging women real estate developers that meet routinely to explore difficult topics in a safe setting and share knowledge to support growth. WSDI also provides curated technical and professional development resources.
Black Women Developers - Up to 25 - meets monthly to discuss current issues, share knowledge, and cross market.
Emerging Women Developers - Up to an additional 25 participants - meet once a month to discuss current issues, share knowledge, and cross market.
NATIONAL PROJECT FORUMS
WSDI will coordinate events that provide emerging women developers the opportunity to present their projects on an international stage to obtain technical feedback, make critical resource connections and attract potential investors. National forums will be conducted through partnerships with entities such as the Urban Land Institute, Dolphin Tank/Springboard Enterprises and other organizations that support women in real estate and women entrepreneurs.
Womens Sustainable Development Initiative
607 Shelby Street, Detroit, Michigan 48226, United States
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