As part of the “Our Vision, Their Stories” project, the Initiative is featuring the stories of their affordable housing partners across the state. We recognize this important work cannot be done in a vacuum, and we are honored to have worked alongside these champions in the critical mission of preserving affordable housing spaces in our community.
Reinvestment Partners
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For decades now, we have partnered with Reinvestment Partners in their mission to address the problems of poverty and social injustice by means of food, housing, community development, health and financial services. Together, we help develop resources for underserved communities, and we’ve loved seeing Reinvestment Partners grow in their passion for making a difference in our communities over the years.
Throughout our partnership, we’ve had the opportunity to loan $0.5M to Reinvestment Partners in their journey to buy a distressed, multi-family complex from the 70s. This is part of their mission to foster healthy and just communities by empowering people, improving places and influencing policy. They want to keep existing units affordable and in good condition.
“NCI lent money where others wouldn’t,” said Peter Skillern, Executive Director of Reinvestment Partners.
With this investment, Reinvestment Partners was able to create naturally occurring affordable housing – taking existing units, updating them and maintaining high quality at affordable costs.
“Without NCI’s role to support nonprofit mission-driven organizations, we wouldn’t have access to capital to do these innovative, ‘outside-the-norm’ deals,” Peter said.
Not only is Reinvestment Partners focused on community development through neighborhood improvements, but they are also focused on providing local services through housing counseling, healthy homes and a taxpayer assistance center. While their offices are located in Durham, they seek to serve the whole Triangle area.
After the $0.5M multi-family complex project, Reinvestment Partners plans to do another similar project. And after that, another project, continuing to build their portfolio of affordable housing and commercial properties that serve communities in the area.
Reinvestment Partners acknowledges that it takes more than good will to see sustainable change take place in your community – it takes capital, it takes commitment, it takes partnership. They have been an example for more than 30 years when it comes to fighting for healthy and just communities, and we are honored to be an ally in the fight.
“Allies have to support each other. We’re glad to be both friends and business partnership with the Initiative.” – Peter Skillern.
To learn more about Reinvestment Partners’ efforts in the community, visit their website.