Residents Driving Change : Community Enterprise and Ownership : Market Creek Community Ventures

Market Creek Partners, LLC

Resident ownership of a significant community asset is made possible through Market Creek Partners, LLC. This limited-liability company owns Market Creek Plaza and another parcel in The Village at Market Creek.

The company is now owned in partnership with the community. The ground-breaking Community-Development Initial Public Offering (CD-IPO) transferred 20% ownership to a group of 415 individual community investors who invested a total of $500,000 in the company. These preferred investors are first in line to receive dividends when profits are available, and receive as much as a 10% return on their investment.

A local resident-planned and run foundation also hold 20% ownership of the company. The Neighborhood Unity Foundation invested $500,000 in Market Creek Partners, LLC, and is second in line to receive dividends when profits are available. NUF uses its 10 % return on investment to fund grants that support resident-led projects in the Diamond Neighborhoods.

The remaining 60% is held by JCNI to ensure the social impacts of the Plaza are continuing to be met, like local hiring, youth employment development, and a commitment to respecting and reflecting the rich cultural diversity of the community. However, starting in 2018, the resident investors will have the opportunity to buy out JCNI's ownership units in Market Creek Partners, LLC. The ultimate goal is for the company to be entirely community-owned.