Member Appreciation: Cinnaire Invests in Detroit’s Revitalization
March 31, 2016Whether contributing to the development of the Qline (formally M-1 Rail) or providing loans for affordable housing, Detroit Regional Chamber member Cinnaire (Great Lakes Capital Fund), a full-service community real estate financial firm, has invested in Detroit for over 23 years.
Through its creative loans, investments, and best-in-class service, Cinnaire has served over 16,000 customers in the region. These efforts resulted in the development of over 5,000 affordable housing units, creation of over 10,500 jobs, and an investment of over $500 million in economic development. Additionally, the company provided over $1.5 million in grants, and allocated tax credits for the Qline, leveraging over $1 billion in development costs for the streetcar.
“When other companies left Detroit, we stayed. We have always been committed to making an impact in Detroit,” the company said in an interview with the eDetroiter. “We have recently developed strategic partnerships focused on innovative ways to include affordable housing in revitalizing downtown and to bring economic development to underserved neighborhoods outside downtown and midtown.”