Each month, the Spotlight showcases ELN members and initiatives that are working to address pressing issues facing us–including trust, affordability, and prosperity. This month, we’re highlighting the Groundwork Initiative’s Social Purpose Real Estate Accelerator (SPREA).
The SPREA, part of the broader Groundwork Initiative, is based out of the Infrastructure Institute at the University of Toronto’s School of Cities. The Groundwork Initiative, led by Director Matt Siemiatycki and Program Lead Alix Aylen, is a collection of programs that support non-profits that own the land they operate out of to engage in real estate development processes so they can better support the communities they engage with.
Through the SPREA, non-profit organizations tapped into the expertise of real estate development experts, architects, and planners to develop projects tailor-made to meet the needs of the communities they serve. For example, project plans included proposals for a wide range of space development, including affordable housing and transitional shelters. The anticipated outcome is that combining access to stable housing and wrap-around supports, such as employment resources, language classes, and skills training, will help marginalized communities improve their economic position and social well-being.
The Accelerator, which just wrapped up its inaugural pilot, enabled nine non-profit organizations to participate in an intensive 6-month program that provided wrap-around support and skills development in different aspects of real estate project proposals and real estate development.
Madeline Barnes Planer, an ELN member committed to supporting affordable housing, was a foundational part of the Accelerator team and is excited by the benefits this program can provide for organizations across the region:
“These non-profits have such strong ties to the communities they are serving. They can design housing built on community knowledge to meet the needs of their communities in a lasting way. Additionally, providing planning and development expertise can result in community-centered solutions you might not achieve from a top-down approach.”
Madeline Barnes Planer, ELN Member
Madeline hopes this work builds towards creating much-needed roadmaps for community-led development, so organizations and communities with valuable lived experience can leverage systems that have deepened divides.
In March, the organizations involved in the Accelerator pitched their proposals to potential partners, including financial institutions, consulting firms, and government agencies. All nine organizations have reported that the Accelerator supported them in overcoming the barriers and challenges they faced only six months before the event, enabling each to move forward with the next phase of their project. More on the program’s successes is available in the Program Summary Report.
The Accelerator is also preparing to accept its second cohort and will be open for applicants later this year.