Mentorship and Training Program Creates Opportunities One Property at a Time
Cinnaire has been awarded a $40,000 grant from the TD Charitable Foundation to support Jumpstart Wilmington, a free mentorship and training program that empowers community members to become developers of their own neighborhoods. 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 Wilmington creates the opportunity for residents to gain knowledge and access to capital to successfully break into the real estate development industry,” said Dionna Sargent, Cinnaire Vice President, Community Development. “This generous grant from the TD Charitable Foundation will strengthen our program, increasing local developer capacity in Wilmington while encouraging residents to revitalize their own neighborhoods. Our Jumpstart Wilmington team is honored to receive this grant and we look forward to working with the TD Charitable Foundation to support healthy, diverse communities.”
Increased local developer capacity in Wilmington is key to scaling development activity and revitalizing communities more rapidly. Jumpstart Wilmington provides aspiring developers who live in Wilmington with the skills, knowledge, and support they need to rehabilitate key properties, one at a time. 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. Cinnaire’s first Jumpstart Wilmington Cohort launched the first week of October. Future cohorts are scheduled for February, May and August 2021.
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/retention 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.
About the TD Charitable Foundation
The TD Charitable Foundation (TDCF) carries the legacy of supporting non-profit institutions and their important work throughout TD’s geographic footprint. Since the TD Charitable Foundation’s inception in 2002, it has contributed over $254 million in grant funding to non-profit organizations and its mission is to support, respect, and improve the quality of life in the diverse communities where they live and do business.