Invest Detroit Gets $1 Million From Ally Charitable Foundation Fund

DETROIT – Ally Charitable Foundation announced a $1 million gift to the Strategic Neighborhood Fund. This fund is a partnership between the City of Detroit and Invest Detroit Fund, and it focuses on 10 neighborhoods across the city. In addition, the grant is part of SNF’s third phase (SNF 3.0). As a result, it will expand the progress made in the first two phases and strengthen their long-term impact.

1. Ally Charitable Foundation Fund Supporting Affordable Housing and Small Businesses:

Ally’s grant will support affordable housing development, as well as Spark Grants for small businesses in all SNF neighborhoods. In addition, the SNF grant is part of Ally’s larger charitable efforts in Detroit, which focus on economic mobility through efforts to promote

affordable housing,
financial education and
workforce development

As Kathie Patterson explains, “Affordable housing is a pressing need both locally and nationally, and empowering small businesses through Spark Grants is essential for building vibrant communities.” With this vision, Ally remains committed to strengthening SNF’s progress and promoting inclusive economic growth in partnership with the City of Detroit and Invest Detroit.

2. Role of Invest Detroit Fund in SNF:

The Invest Detroit Fund, a 501(c)(3) nonprofit and community development financial institution (CDFI), manages the SNF program. For nearly 30 years, the fund has fueled Detroit’s growth by uniting partners and channeling philanthropic support. As a result, it helps real estate and business projects that cannot secure traditional financing.

Each SNF neighborhood begins with a yearlong planning process in collaboration with residents. During this stage, they design improvements for streetscapes, commercial corridors, and parks. Afterward, these projects move into action and roll out across all 10 neighborhoods.

3. Neighborhood Impact Across Detroit

The SNF also works to reduce displacement, often with support from the City’s Affordable Housing Leverage Fund. From the very start, residents join the planning process. As a result, the focus stays on improving neighborhood life for the people who already call it home.

With the investment from Ally, the SNF will deepen its focus in 10 neighborhoods, spread across every council district:

Jefferson Chalmers
Warrendale/Cody-Rouge
Campau/Davison/Banglatown
East Warren/Cadieux
Grand River Northwest
Gratiot/7 Mile
Russell Woods/Nardin Park
Islandview/Greater Villages
Southwest/Vernor
Livernois-McNichols

Investment in SNF neighborhoods has been strong. Since 2016, SNF has directed $262 million into community projects. As a result, 10 neighborhood framework plans are now complete. In addition, 78,000 square feet of commercial space has been built. The fund also supported 378 new housing units and 86 home rehabs. Moreover, 12 park and greenway projects are finished, while 4 more are underway. SNF has also launched 12 streetscape improvements.

These investments are paying off. Data shows that poverty and residential vacancy have dropped across all 10 neighborhoods. Even more encouraging, the population has grown in six of them.

“We are truly grateful for Ally’s generous investment in SNF 3 and their continued commitment to Detroit’s future,” said Dave Blaszkiewicz, president and CEO of Invest Detroit. “Their support will drive true impact—expanding quality affordable housing, fueling small business growth, and creating jobs across our neighborhoods. Ally’s investment in Detroit will be a contributing factor in Detroit’s continued revitalization and the collective goal of building a more equitable city with opportunities for everyone.”

Find out more at www.investdetroit.com.

Final Thoughts:

The $1 million contribution from Ally Charitable Foundation to the Invest Detroit Fund marks another step forward in Detroit’s revitalization journey. With more affordable housing, small business support, and community development projects, the future looks brighter for neighborhoods across the city.

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FAQs

1. What is the Invest Detroit Fund?

The Invest Detroit Fund is a nonprofit and CDFI that supports Detroit’s economic growth by financing real estate and business projects that often lack traditional funding options.