$30 million fund help minority developers launch projects in the Medical District
The Memphis Medical District Collaborative and Pathway Lending on Monday announced the creation of the Medical District Investment Fund, a $30 million capital fund to help finance development of residential and mixed-use projects in the district.
MMDC director of real estate Ben Schulman said the fund will go beyond simply encouraging new development. It will be strategically utilized to encourage development by minority- and women-owned businesses, create a diversity of housing and transform the micro-economy of the diverse neighborhood.