Public entities and non-profit organizations around the country are focused on converting valuable underutilized assets to productive uses. In doing so, mission-focused organizations are able to catalyze economic development, return properties to productive uses, contribute fallow assets to the tax rolls, and reduce operating expenses and carrying costs.
Steinbridge works with national and local non-profits as well as local, state and federal governments and agencies to redevelop and activate underutilized properties. These projects have included groundbreaking initiatives in New York City, Richmond, Dallas, Atlanta, Washington, Philadelphia, South Florida, North Carolina, Los Angeles and Boston.
Steinbridge also partners with local developers who have strong opportunities but may be resource constrained.
Historically Black Colleges & Universities (HBCUs)
HBCUs are colleges and universities of higher education that primarily serve the African American community. Most of these institutions were founded in the years after the American Civil War and are concentrated in the Southern United States.
Steinbridge announced a $100 million capital commitment to our nation’s Historically Black Colleges and Universities (HBCUs) and other institutions. Our focus is on forging real estate partnerships to rejuvenate underutilized assets owned by HBCUs and other institutions, with a shared mission of creating accessible homes in America’s fastest-growing cities.
In collaboration with Robert F Smith’s Student Freedom Initiative, we have selected Virginia Union to make a $40 million to unlock the value of its 100-acre real estate holdings in Richmond’s North Side.