Cinnaire Awarded $60 Million in New Markets Tax Credits from U.S Treasury Department

Award Will Spur Projects that Support Education, Vocational Training and Job Opportunities in Disinvested Communities  Cinnaire has been awarded a $60 million New Markets Tax Credit (NMTC) allocation from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund). These tax credits incentivize private sector investors to partner in community financing efforts. Cinnaire […]

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Cinnaire Joins Hope Network & Partners to Celebrate Eastpointe Commons Groundbreaking

Honored guests and speakers join-in to throw some dirt outside the new Eastpointe Commons complex. United Healthcare is one of the major players in a project that is turning the old, empty Fulton Manor buildings in Grand Rapids into a new housing facility named Eastpointe Commons

Cinnaire recently joined Hope Network, Grand Rapids Mayor Rosalynn Bliss and community partners to celebrate the groundbreaking for Eastpointe Commons, a $40 million affordable housing development on Fulton Avenue East in Grand Rapids, MI, spearheaded by Hope Network, a leading statewide nonprofit organization committed to transforming and rebuilding lives across Michigan. Eastpointe Commons aims to

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Cinnaire Named Best Place to Work by Crain’s Detroit Business

Crain’s Detroit Business Best Places to Work Program Recognizes Companies with Excellent Workplace Culture, Leadership and Benefits Cinnaire has been named one of Crain’s Detroit Business Best Places to Work in Michigan for the 10th consecutive year. With Michigan offices in Lansing, Detroit, and Grand Rapids, Cinnaire is ranked 21 overall of out 100 organizations on

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Two Cinnaire Projects Named Affordable Housing Finance Readers Choice Finalists

Affordable Housing Finance (AHF) recently announced 32 inspiring developments have been selected as finalists in the 2023 AHF Magazine Readers’ Choice Awards. The awards, now in its 19th year, recognize the best affordable housing developments nationally in 10 categories. The projects represent the range of affordable housing being built for families, seniors, farmworkers, veterans, and

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Claymont Apartments Reopen Providing 29-Units of Affordable Housing in Wilmington

Following catastrophic flooding during Hurricane Ida, building underwent $3 million renovation When Hurricane Ida hit Delaware on September 1, 2021, the neighborhood where Claymont Street Apartments is located was among the most impacted by flooding. Many residents were evacuated on boats and the building’s basement and first floor flooded completely under water. The building was

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Q2 2023 Michigan Future Business Index: Michigan’s Small Businesses Report Inflation Eating into Their Profits

Optimism Remains on Improving Economy and Future Opportunities In a recent statewide survey of 615 small to medium sized businesses, respondents to the latest Michigan Future Business Index (MFBI) survey indicated even though the impacts of the weaking economy have emerged on the list of top challenges to doing business in Michigan in the past

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Policy Pulse – June 2023

With new legislative sessions and budget seasons underway, this edition of Policy Pulse is focused on helping you understand the current state of play at the federal and state levels, including what new bill introductions and budget discussions will mean for Cinnaire’s work and the communities we serve. Click here to see Cinnaire’s April 2023

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Cinnaire Names Lucius Vassar Chief Legal Officer & Corporate Secretary

Cinnaire has announced the promotion of Lucius Vassar to Chief Legal Officer and Corporate Secretary. Lucius joined Cinnaire in 2018 as Detroit Market Lead and was soon promoted to Corporate Counsel and EVP, Equitable Engagement. Lucius has served as a trusted advisor for Cinnaire in both legal services and advancing the organization’s goals of equitable

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Cinnaire Welcomes Three New Board Members

Cinnaire has announced the appointment of three new Board members. The new members join the organization’s Board of Directors to provide strategic direction supporting continued growth around Cinnaire’s commitment to investing in people and places to transform communities. “Sarida, Fred and Amandula have each demonstrated a remarkable commitment to our mission and industry,” said Mark

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Cinnaire Closes $151 Million in Committed Capital for Equity Fund

Low-Income Housing Tax Credit fund will create nearly 1,500 affordable homes in five states Cinnaire announced today the closing of the Cinnaire Fund for Housing (Fund 39), a $151 million multi-investor Low-Income Housing Tax Credit fund. The fund will support the creation of 1,464 affordable homes across 14 new construction and rehabilitation projects in five

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Cinnaire Solutions Joins Grandmont Rosedale Development Corporation, City of Detroit Breaking Ground on Affordable Housing

Cinnaire Solutions and the Grandmont Rosedale Development Corporation joined Detroit Mayor Mike Duggan and Detroit City Council President Pro Tem James Tate today to announce that renovations have begun on Grandmont Rosedale Park Collective II in Detroit’s Grandmont Rosedale neighborhood. The development, at 9710 W. Outer Drive, will renovate two vacant buildings, bringing 35 new

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