Last month, Colorado Enterprise Fund (CEF) announced its largest economic development and commercial real estate investment to date, the Chambers Place Redevelopment Project, which will be instrumental in helping reinvigorate the Northeast Denver neighborhood of Montbello, currently designated a food desert.
CEF worked as the lead lender for the secondary financing of the $10.5 million commercial real estate project, convening two other non-profit funders and working with a bank lender to provide the funds necessary to make the redevelopment possible. The property, originally anchored by a Safeway store that closed years ago, now features a new Save-a-Lot store plus other small business tenants including a CEF borrower, Early Success Academy.
here to learn how an injection of new business investment and healthy food funding will help this local Denver community grow and thrive for years to come.
Former Denver Mayor Wellington Webb presents MLK business award to CEF President and CEO Ceyl Prinster
Colorado Enterprise Fund was proud to be
one of eight recipients of the 2018
Martin Luther King, Jr. Business Award at the 33rd Annual Awards Presentation Luncheon in downtown Denver on January 12.
The award celebrates "content of character" and is given to individuals, corporations and non-profit organizations for exceptional community service and commitment to the values of Dr. Martin Luther King, Jr.
For more details on this prestigious Colorado award which we were honored to receive for the very first time, please visit our News page here.
Diana Gadison saw a need and grew a foundation.
It was right there in front of her where she worked as an elementary school principal in Denver's Montbello neighborhood.
She noticed many kids were waiting alone before and after school with nowhere to go. The lack of nearby childcare was a real concern so she and her mother set out to fix it. When money to finish renovating the property they had purchased ran out, Gadison came to CEF for a loan, the first of many she received.
For over 20 years, CEF has partnered with Early Success Academy to grow it into a statewide and national educational model through additional financing and hands-on business coaching.
Click here to read how Diana combined her passion for children and community to create a much-needed childcare service in Northeast Denver with help from CEF.
Colorado Enterprise Fund (CEF) is grateful to The Colorado Trust for partnering with CEF on the Chambers Place Redevelopment Project in Montbello, an under-resourced neighborhood in northeast Denver. True to their nonprofit mission as a health equity foundation, The Colorado Trust invested $1 million in this project (see lead article above) along with CEF and the Colorado Housing and Finance Authority, to ensure the opening of a new Save-a-Lot grocery store to anchor an existing shopping center alongside other health and wellness-based businesses.
The Colorado Trust (The Trust) is a health-equity foundation whose mission is to advance the health and well-being of the people of Colorado, enabling them to have fair and equal opportunities to lead healthy, productive lives regardless of race, ethnicity, income or where they live within the state. The Trust works to mitigate the social determinants of health that cause health inequities arising because of the circumstances in which people grow, live, work and age, and the systems in place to deal with illness. The conditions in which people live are shaped by political, social and economic forces. The Trust uses a variety of grant-making strategies and approaches in its work to advance health equity for all Coloradans, including community partnerships throughout the state.
For more info, please visit: http://www.coloradotrust.org/
The Colorado Trust for investing in Colorado's health with CEF by enabling
disadvantaged communities and small businesses to participate in our state's economic vitality.