timeline AT A GLANCE 19 98
Creek Plaza. This resulted in 79 percent of contracts going to local and minorityowned businesses. Contracts included commitments to hire residents for labor.
business for residents in the food and hospitality industry.
A resident employment consultant worked with the major national tenant Food 4 Less to secure 85 percent resident employment of its initial jobs. MCP’s security and maintenance operations were launched as Learn-and-Earn businesses with residents recruited and trained for the positions. The Cold Stone Creamery franchise store also developed a youth employment training program. BRYCO Business Park created inexpensive space for local small businesses in a renovated light-industrial building.
In 2000, a resident Ownership Design Team was formed to explore ways to create ownership opportunities for community members, including the Community Development IPO strategy which resulted in 415 residents buying units of ownership in Market Creek Partners, the company which owns the Plaza. These Diamond Community Investors own 20 percent of the company. The Neighborhood Unity Foundation, a resident-led community foundation, was created. It also owns 20 percent of Market Creek Partners and uses its returns to operate a mini-grants program in the community.
Economic Development
In 2008, Market Creek Events & Venues, a banquet and conference center enterprise, began operating to serve the new Joe & Vi Jacobs Center as a training
A Village Enterprise and Ownership Team has been formed to develop business, employment, asset building, and resident ownership goals and strategies for future development. The team is exploring local business ownership opportunities for the next two Village commercial developments. Market Creek Partners is developing a plan for the Diamond Community Investors (DCI) and Neighborhood Unity Foundation (NUF) to purchase full ownership of the company in 2018. A group of 193 DCI members has reinvested their returns in a Community Investment Fund with the purpose of continuing to invest in improving their community.
2010
Diamond Management, Inc., incorporated in 2005, was launched as a training business to provide development, construction, and property management to The Village.
Looking Ahead
20 0 6
Two double-bottom-line social enterprises were also created. Where the World Meets, a retail microenterprise program, was opened to provide local entrepreneurs a place to showcase cultural products and to grow their businesses. Writerz Blok, which began as a graffiti arts program for youth, also developed product lines including mural art projects and urban wear.
20 02
Social Enterprise
Ownership & Asset Building
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