Mentorship and Training Program Empowers Community Members as Developers to Revitalize Neighborhoods
Cinnaire, in partnership with the University of Delaware, has announced the launch of Jumpstart Wilmington, a program designed to hep 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. Jumpstart Wilmington will provide participants with the fundamental skills, knowledge, and support they need to transform their neighborhoods one property at a time.” – Dionna Sargent, Cinnaire Vice President, Community Development
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 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 grow 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 18th, 2020 by visiting https://jumpstartwilmington.org.
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.