Our social enterprises are intended to be planned, staffed, managed, and owned by community residents. Some hold land for commercial, industrial, and residential projects being planned, designed, and built by community residents, while others create opportunities for employment, management training and, ultimately, business ownership.
Where social mission meets the marketplace to drive the economic engine of The Village at Market Creek Harnessing the power of the local economy makes business in The Village financially viable. At the same time, businesses look to a double-bottom line with social goals like creating new jobs, providing training and capacity-building, and opening opportunities for resident ownership.
MARKET CREEK EVENTS & VENUES
MARKET CREEK PARTNERS, LLC
DIAMOND MANAGEMENT, INC
Market Creek Events & Venues is a dynamic social enterprise venture that builds a bridge between the Diamond Neighborhoods of southeastern San Diego and the city’s multibillion dollar meetings and events industry.
Resident ownership of a significant community asset is made possible through Market Creek Partners, LLC. This limitedliability company owns Market Creek Plaza.
Diamond Management, Inc. (DMI) oversees property development and management, business development, contractor development, and operations for the Jacobs Center for Neighborhood Innovation. DMI’s mission as a training business is to reclaim blighted properties and build social and economic value in the Diamond Neighborhoods.
EVENTS 895 events with over
attendees were hosted at Market Creek Events & Venues in 2012. 100,000
40,000 9,000 2008
SALES $1.2M in revenue in 2012. Sales since
opening in 2008 $
PROFITS RETURNED TO COMMUNITY Diamond Community Investors Neighborhood Unity Foundation
225,000 $ 255,000 $
In 2008, a group of Diamond Community Investors pooled their dividend distributions for future investment. $100,000
TRAINING 150+ residents have received hospitality training and experience. Annual training investment $
$40,000 $20,000 $0
CONSTRUCTION NEW CONSTRUCTION
Market Creek Plaza Elementary Institute of Science Joe & Vi Jacobs Center
104,000 15,000 78,000
Total New Construction
BRYCO Business Park Total Renovation
Chollas Creek River Parkway Chollas Creek Tributary Total Creek Restoration
CONTRACTING Value of Village construction contracts over $
Minority- or women-owned
COMMUNITY INVESTMENT FUND
EMPLOYMENT Full Time On Call
20% 20% 56%
• Diamond Community Investors • Neighborhood Unity Foundation • Jacobs Center for Neighborhood Innovation • Diamond Management, Inc.
Shares typically earn community investors a 10% return on their investment.
Individual community stakeholders purchased $ 500K worth of shares (at $10/share) in Market Creek Partners, LLC. Neighborhood Unity Foundation also invested $500K.
$59,081 $39,411 $14,300 2007 2008 2009 2010 2011 2012
New construction, renovation, and creek restoration over $
Building & tenant improvements
Jacobs Center for Neighborhood Innovation 404 Euclid Avenue San Diego, CA 92114 phone (619) 527-6161 fax (619) 527-6162