Diamond Community Investors

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.

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Diamond Community Investors Amended and Restated Charter

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.

Market Creek Partners Operating Agreement

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.

2017 Diamond Community Investor Workshops

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.

Upcoming Workshops:

  • Why do we have to Refinance?
    This workshop will discuss how the mall is currently financed and how financing affects our repurchase options.  It also explains how our financial position affects the 2018 decision.
    Saturday  May 20, 2017 – @ 10am
    Thursday May 25, 2017  – @ 6pm
  • 2018 Buyout. DCI purchase of JCNI units.
    This workshop will discuss the charter provisions related to the 2018 decision, including who it affects and how it might work.  You will be presented with the relevant information that must be considered to make the decision, including the status of preparing for a decision.
    Thursday Workshop-July 27, 2017 @ 6pm
    Saturday Workshops –July 29, 2017 –Community Room @10am
  • What are our options?
    This workshop will focus on discussing options that have been researched regarding 2018 and how they affect the Investor decision.  We will discuss pros and cons of any recommendations that are under consideration.
    Thursday September 7, 2017- @ 6pm
    Saturday Workshops –September 16, 2017 – Community room @10am

View the PowerPoint presentations from past Education Committee workshops.

 

  • What’s in it for Me? Redevelopment and How it Affects Your Investment. (Workshop held July 16 and July 28, 2016)
  • Why am I Not Getting a Check? Profitability and Understanding the Finances of Market Creek Plaza. (Workshop held May 26 and June 11, 2016)
  • Can’t We All Just Get Along? Mediate for Solutions: How to Solve Problems Amicable (Workshop held in September 10, 2016)

Get In Touch

Contact the Diamond Community Investor Council at (619) 450-4070 or dci@jacobscenter.org.