Market Creek Plaza produced the nation’s first Community Development IPO in 2006.
Today, this bustling retail center has hundreds of community investors.
Resident ownership of a significant portion of Market Creek Plaza is made possible through Market Creek Partners, LLC. This limited-liability company owns the plaza and another nearby parcel.
The company is now owned in partnership with hundreds of community investors known as the Diamond Community Investors. The groundbreaking Community-Development Initial Public Offering (CD-IPO) transferred 20% ownership to these residents, who together invested a total of $500,000.
Another 20% of the Plaza is owned by the resident-led Neighborhood Unity Foundation (NUF) for their $500,000 investment in Market Creek Partners, LLC.
The remaining 60% is held by the Jacobs Center to ensure the social impacts of the plaza are continuing to be met, like local hiring, youth development and employment, and a commitment to respecting and reflecting the rich cultural diversity of the community.
Planned and built through this network of resident teams, the vision for Market Creek Plaza led to the creation of the nation’s first Community Development Initial Public Offering (IPO), giving residents a stake in the developments in their neighborhood.
The Diamond Community Investors Charter governs some of the operations of Market Creek Partners, LLC, a California limited liability company. This Charter states the additional rights, privileges and responsibilities that holders of Diamond Community Investor Units have, as compared to the other members of the Company. It is also intended to facilitate communication between management of the Company and the Diamond Community Investors.
The Market Creek Partners Operating Agreement states business requirements, rentable units, tax items, and more between the Jacobs Center for Neighborhood Innovation, Diamond Management, Inc., and potential businesses looking to move into Market Creek Plaza.
The Education Committee has developed a series of informative workshops for members of the Diamond Community Investors. These workshops are designed to answer questions you may have about your investment.
View the PowerPoint presentations from past Education Committee workshops.
Contact the Diamond Community Investor Council at (619) 450-4070 or firstname.lastname@example.org.