ABOUT JUMPSTART WILMINGTON
Jumpstart Wilmington was launched to help Wilmington residents to become developers of their own neighborhood through quality, community-focused real estate development training and financing options. Our program is modeled after the original Jumpstart Germantown Program, which was created by Ken Weinstein to facilitate the revitalization of the Germantown neighborhood of Philadelphia through high quality residential renovations.
Increased local developer capacity in Wilmington is the key to scaling development activity and revitalizing communities more rapidly. We see residents of Wilmington communities as the best resource for neighborhood revitalization, as many have potential to effect positive change in their neighborhoods. Jumpstart Wilmington can provide aspiring developers who live in Wilmington communities with the skills, knowledge, and support they need to rehabilitate key properties, one at a time. In the absence of established real estate developers willing to invest in smaller scale projects, this program will cultivate a force of new local developers who currently reside in Wilmington or have a commitment to improving Wilmington neighborhoods.
Jumpstart Wilmington promotes the growth of local developer capacity through training and development to support neighborhood revitalization and community development solutions.
Jumpstart Wilmington will model this approach to community development, by providing training, mentoring, networking, and financing options for aspiring local developers, to:
- create opportunities for local residents to invest and develop in their neighborhoods
- build wealth locally
- support scattered-site rehabilitation (as opposed to urban renewal)
- encourage a healthy mix of affordable and market-rate housing
- improve neighborhood safety and raises property values through blight reduction
- help first-time investors become more attractive to traditional lenders
- provide opportunities to groups traditionally under-represented in real estate development
We are looking to identify new and seasoned enthusiastic, community-driven, and socially-conscious developers who share our interest in investing in the future of Wilmington and are committed to removing blight and vacant properties, creating more quality, affordable housing, and creating community assets that complement neighborhood revitalization objectives.
The focus area for Jumpstart Wilmington is the City of Wilmington boundaries: