Kansas City, MO (May 27, 2021)
equity2 has invested $250,000 into the purchase of the Marlborough School in collaboration with the Marlborough Community Land Trust (MCLT) and Marlborough Community Coalition (MCC). Working together with the local community, this investment can build wealth while supporting more equitable and sustainable economic development within the Marlborough neighborhood.
With this investment, equity2 and MCLT have entered into a partnership with the goal to support the Marlborough neighborhood in launching a Community Investment Trust (CIT). The CIT drives individual financial action, wealth building through asset ownership, and long-term equitable development. Equity is the core value of the CIT: in ownership, governance, and for widely distributed, long-term asset-building. The Marlborough CIT will be among the first CITs implemented in the region.
“The Marlborough Community Coalition has been working and partnering diligently for nearly a decade to see the Marlborough Elementary School developed in a manner consistent with the community’s values” said Rebecca McQuillen, MCLT, Executive Director. “As MCC’s sister organization, MCLT is eager to work together with MCC, equity2, Marlborough neighborhood residents, and other community partners to redevelop this site into a wealth-building and community-serving asset for the Marlborough community.”
The implementation of the MCLT was a result of community members attending the Community Development Workshop, which is an annual community capacity building workshop hosted by equity2’s affiliate organization, Community Capital Fund. With the purchasing of the Marlborough School, this relationship can continue to grow as the community explores new approaches to equitable economic opportunities. Residents will be offered an opportunity to invest in income generating real estate, while having a say in the kinds of businesses they want to see in their community.
“This investment creates an opportunity for current residents to participate in, and benefit from the broader economic development happening around them” said Emily Lecuyer, Managing Director of equity2. “We’re excited to bring the CIT to Kansas City because it is a proven model for building a more equitable regional economy.”
A feasibility study for the Marlborough CIT will be launched in the coming months. Anyone who lives within the Marlborough neighborhood will be invited to participate and give input on the development of the project through surveys and community discussions in the summer of 2021.
To learn more about the Marlborough CIT, or if you are an impact investor and are interested in innovative community wealth-building opportunities such as these, Click here.
equity2 LLC is a mission driven impact investment firm committed to deploying capital in inclusive and equitable ways. Formed by AltCap in 2019, equity2 is building on a strong track record of deploying capital in Kansas City’s distressed communities. Our investments aim to provide both personal benefit and community impact, while empowering investors to generate financial returns while creating broad economic opportunity.
Managing Director, equity2
Director of Impact Investments, AltCap