Commercial Real Estate Development Eligibility Criteria:
To be eligible, applicants must meet the baseline criteria outlined below. Additional requirements apply based on the selected project track.
Requirements
- Must be located in a Small or Midsized City (population 50K–500K).
- Must demonstrate site control or a clear path to acquisition for a commercial real estate development project.
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Coalition must include representation from an anchor institution within 5 miles of the development site. Anchor institutions may include:
- Educational institutions (e.g., HBCUs, MSIs, community colleges, universities)
- Healthcare providers (e.g., hospitals, health systems, FQHCs)
- Faith-based institutions (e.g., churches, religious networks)
- Civic or cultural institutions (e.g., libraries, museums, civic centers)
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Coalition must also be comprised of at least two—but no more than three—cross-sector partners from your city. Additional partners can include:
- Economic development organizations
- Local government entities (e.g., public agencies, city council, mayor’s office, relevant department)
- Community-based organizations
- Private sector partners (developers, investors, businesses)
- Philanthropic institutions
- Financial institutions (e.g., CDFIs, credit unions, banks)
- Unless you were a local government partner, coalition orgs must not have already participated in a 2025 NGIN LEAP trip (Philadelphia – Feb 2025, Cleveland – Jun 2025).
- Must submit a single application on behalf of your coalition with letters of commitment from each partner. Each track has its own application—please complete the appropriate one. For a letter of support template, visit: https://newgrowth.org/ngin-initiatives/strategic-capacity-for-advancing-local-economies#helpfullinks
- Preferred Qualification: Applicants with at least $100,000 in committed pre-development capital are likely to be more competitive.