When I was 35 years oldth At the anniversary celebration, New Jersey Community Capital highlighted recent accomplishments and new strategic plans to support homeownership, economic development, and wealth creation in underserved communities across the country.
new brunswick new jersey, May 21, 2024 /PRNewswire/ — New Jersey Community Capital (NJCC) announced an ambitious five-year growth initiative designed to advance equity and opportunity for underserved communities at its Spring Celebration on the 19th. We have announced our strategy. May 1st. Community Development Financial Institutions (CDFIs) accelerate their mission to finance and develop affordable housing, small businesses, schools and child care facilities, as well as serve eligible communities across the country. We are expanding our geographic focus to To support its broader efforts, NJCC has added key team members to its board of directors and leadership team.
Burnell Hall, President and CEO, New Jersey Community Capital
NJCC’s unique business model delivers double the revenue
“We plan to leverage our deep-rooted expertise and proven community finance models to become a national leader in advancing equitable development. We have a broad roadmap aimed at promoting broad-based economic stability and wealth creation through accessible financial solutions.” and CEO burnell hall He said so during the event.
“At the heart of our strategy is our unique business model, which we believe is highly effective and allows us to expand our lending, equity investment and real estate development programs beyond the tri-state region. Initially, we plan to scale these up.”We’re not just scaling up, we’re further strengthening our impact by targeting the communities most in need of transformational capital. ,” Hall explained.
In addition to geographic expansion, NJCC’s roadmap also includes the growth of two of its subsidiaries, University Ventures and Community Asset Preservation Corporation. These organizations support a wide range of critical community-based needs, from affordable housing and quality educational facilities to enhanced social services. “Each of these ventures is designed to reshape and strengthen the fabric of the communities they support, while ensuring that our investments provide the dual return funders hope to achieve by generating social and financial dividends,” Hall added.
Proven leader joins NJCC to drive its expansion
As NJCC embarks on this ambitious journey, several outstanding leaders have recently joined our management team and board of directors. They all bring unique strengths and experience to his CDFI that are key to CDFI’s expansion and goals. They include:
- Sabrina N. Conyersis an experienced partner at McGuireWoods, LLP and has joined NJCC’s Board of Directors, Investment and Credit Committee. She brings extensive expertise in tax transaction planning, corporate governance, and real estate finance to guide financial strategy and ensure that every investment the organization makes is not only impactful but also financially prudent. Masu.
- Claudia LimaA veteran impact investor, he has joined the NJCC executive team as chief investment officer. She will oversee NJCC’s investment, lending and real estate subsidiaries. Before she joined NJCC, Lima served as Executive Vice President at SDS Capital. 200 million dollars Impact investment fund. Prior to joining SDS, he served as Managing Director of Community Lending and Investments at CIT Bank, a division of First Citizens Bank, with responsibility for 22 states.will be based in Lima Los Angeles, California As part of NJCC’s national expansion efforts.
- Giovanna Sampson brings over 20 years of community development and lending experience and joins NJCC as Managing Director of Lending. Sampson has worked in retail banking, commercial lending, and mortgage lending, most recently where she served as vice president of commercial lending at BlueHub Capital. Throughout her career, she has helped drive market expansion in the Southeast, West Coast and Midwest, and she will now lead NJCC’s lending capabilities nationally.
- Brian WawelAn emerging markets private equity investor with 15 years of experience with notable institutions such as Blackstone and RMB Ventures, he joins NJCC as director of strategic investments. Waweru will expand NJCC’s private equity and mezzanine debt efforts as part of University Ventures, NJCC’s investment platform for boutique small and medium-sized business investments.
“As we scale our business, these leaders will play a pivotal role in not only executing our strategic vision, but also redefining what is possible in community development finance. Deaf,” Hall said. “With their diverse skills and shared passion for economic justice, NJCC is well-positioned to lead effectively across the country.”
Keynote speakers address NJCC’s legacy of influence
In the keynote speech, Mr. NeighborWorks said:® SVP of Field Operations, USA kathryn watts He praised NJCC’s ability to apply creative and innovative solutions to affordable housing challenges. “They are [NJCC] Keep us alert by constantly pushing the boundaries with creative and breakthrough business strategies,” Watts said. 2 million dollars with a grant from new jersey Last year’s projects alone $350 million In terms of total investment.
Acting Director Jacqueline Suarez Representatives from the New Jersey Department of Community Affairs also addressed the audience during the event. “New Jersey Community Capital’s mission to advance equity and opportunity through strategic investments in traditionally underserved communities is inherently aligned with the work of the Department of Community Affairs. ” Acting Secretary Suarez said. “Creating affordable housing, supporting local communities, and promoting equitable redevelopment are core elements of the work we do at DCA, which is why we are proud of NJCC’s work in these important areas. I am sincerely grateful.”
The NJCC Spring Celebration also included formal recognition of NJCC’s most prominent partner organizations. NJCC awarded the following awards:
- Funder of the Year — PNC Bank
- Developer of the Year — Gonsosa Development
- Community organization of the year — Children and Families Association new jersey
- Small Business of the Year — JAS Group Enterprise Co., Ltd.
With these changes to our strategic plan, NJCC reaffirms its commitment to investing in areas overlooked by traditional finance, working to close wealth disparities, and promote economic inclusion. The Spring Celebration marked the beginning of a new and exciting chapter for NJCC and a springboard for future ambitions to aim higher and reach further.
To support NJCC’s efforts to increase affordable housing, advance community development, and promote women- and BIPOC-owned businesses, visit newjerseycommunitycapital.org.
About New Jersey Community Capital:
NJCC is a nonprofit community development financial institution (CDFI) dedicated to creating thriving communities through strategic investments and knowledge. Founded in 1987, NJCC has grown to serve as a key architect of community development initiatives that promote economic stability and prosperity in underserved areas.
Media contact:
Beshanda Owusu
[email protected]
773-398-9194
SOURCE New Jersey Community Capital
