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North Miami Community Investment Cooperative

The North Miami Community Investment Cooperative (NM-CIC) will allow North Miami residents to cooperatively own and operate a commercial property. In the first phase, which begins in 2021, Catalyst Miami will facilitate the purchase and initial management of the commercial real estate, including making infrastructural repairs and managing commercial tenant relations. Then, Catalyst Miami will oversee the process of selling the property back to individual members of the surrounding community.

The NM-CIC opens up investment opportunities in real estate to working-class residents—who will ultimately be the property owners—especially as mobility- and transit-oriented development increases in the area. The initiative also supports the hyperlocal economy by leasing spaces to local businesses (the property's tenants) and offering them technical assistance through our small business services.

The NM-CIC initiative is part of our efforts to spearhead wealth-building projects that promote economic inclusiveness for communities that were disproportionately impacted by the pandemic and were already at a disadvantage with regard to the racial wealth gap. The project provides a demonstration of community-level economics that supports equitable wealth-building, collective ownership, and stabilization instead of displacement.

 

Read about the NM-CIC in the Miami Herald and BisNow.

The NM-CIC will...

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Build wealth for families via small-dollar investments
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Give community residents more control over development in their neighborhood
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Support local small businesses by leasing space to them and offering them technical assistance
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Provide education and capacity-building opportunities to help local, small-dollar investors govern and manage the property

Want to get involved?

If you live in North Miami and would like to be a part of this cooperative, please complete the form on this page. We will contact you soon about next steps! 

Download the information sheet here. 

You may also contact us directly for more information by emailing [email protected].