Mentorship & Training Program Empowers Community Members as Developers to Revitalize Wilmington Neighborhoods
Wilmington, DE – Cinnaire, in partnership with the University of Delaware, has announced the launch of Jumpstart Wilmington, a program designed to help Wilmington residents become
developers of their own neighborhoods through quality, community-focused real estate development training and financing options. Cinnaire’s 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.
“Jumpstart was created to reduce blight and increase investment in our communities,” said Ken Weinstein, Founder of Jumpstart Germantown and President of Philly Office Retail. “By offering opportunities for local entrepreneurs, we can keep wealth local. With Jumpstart, everyone wins – aspiring developers, longtime residents, and other community partners all benefit from additional investment in their neighborhood.”
Cinnaire has raised funding to launch Jumpstart Wilmington to promote the growth of local developer capacity through training and development to support neighborhood revitalization
and community development solutions throughout the City of Wilmington. Following an intensive search for a community partner, the University of Delaware’s Biden School of Public
Policy and Administration was selected to join Cinnaire in managing the program.
“The Biden School’s Center for Community Research and Service is excited to partner with Cinnaire in administering Jumpstart Wilmington and together bringing a new tool to revitalize
communities through housing development solutions in Wilmington,” said Roger Hesketh, University of Delaware Director of Community Revitalization, Center for Community Research
and Service.
“We see residents of Wilmington neighborhoods as a great asset for neighborhood revitalization,” said Dionna Sargent, Cinnaire Vice President, Community Development. “Jumpstart Wilmington will provide participants with the fundamental skills, knowledge, and support they need to transform their neighborhoods one property at a time.”
Increased local developer capacity in Wilmington is the key to scaling development activity and revitalizing communities more rapidly. Jumpstart Wilmington will provide developers who live in Wilmington neighborhoods with the skills, knowledge and support they need to rehabilitate key properties. The program will cultivate a force of local new developers who reside in
Wilmington or have a commitment to improving Wilmington neighborhoods.
“The goal of Jumpstart Wilmington is to train a force of small residential local developers to renovate properties in the City,” said Jim Peffley, Cinnaire Chief Strategy Officer. “Participants
will learn how to build and grown wealth within their own community. With strong support from the University of Delaware and our sponsors, this program will pave the way to make
meaningful and transformative change in Wilmington neighborhoods.”
Jumpstart Wilmington will introduce trainees to a community-oriented approach to real estate development. The program components include a 12-hour training program, finding
development opportunities, assessing the economics of a deal, putting together financing, strategies to sell or lease, mentoring, access to capital and more. The first Jumpstart
Wilmington Cohort will begin in October 2020.
Jumpstart Wilmington is seeking new and seasoned enthusiastic, community-driven and socially conscious developers who are interested in investing in the future of Wilmington and are committed to removing blight and vacant properties to create more affordable housing and community assets that compliment neighborhood revitalization objectives. Individuals should apply by September 18, 2020 by visiting www.jumpstartwilmington.org.
About Cinnaire
Cinnaire is a non-profit financial partner that supports community and economic revitalization initiatives through creative investments, loans and development services. Since 1993, Cinnaire has invested $4.7 billion to develop 811 housing communities in 10 states, providing 49,700 affordable apartment homes for more than 100,000 individuals and families and has provided community development loans to support the creation/renovation of more than 187,000 square feet of commercial, mixed-use, and community space. In its mission to change lives and transform neighborhoods into thriving communities, Cinnaire has helped to create or retain over 76,000 jobs and spur $7.9 billion in economic impact. www.cinnaire.com
About the University of Delaware Biden School of Public Policy & Administration
The Biden School’s Center for Community Research & Service (CCRS) envisions communities and systems which provide for the social, economic, cultural and physical prosperity of all
residents, especially those with limited opportunities. The mission of CCRS is to support interdisciplinary, action-oriented, and translational research that seeks to improve public
health; enhance the social, physical, and psychological well-being of all residents; and increase the ability of nonprofit agencies, philanthropic organizations, government, business and citizens to enhance the quality of their healthy communities.