DL3 Realty’s Development Process Focuses on Inclusive Revitalization
Benefit Chicago announced a $3 million investment in DL3 Realty Advisors, LLC, a new impact investment company created by DL3 Realty, L.P. (DL3) targeting projects designed to sustain and accelerate revitalization efforts across Chicago. Founded in 1999, DL3 is a community-minded development and advisory firm that helps transform emerging communities through high-impact and dynamic commercial real estate projects. DL3’s new company will use the investment to advance its work in Woodlawn and other communities in the south and west sides of Chicago.
Benefit Chicago’s initial investment will target the improvement of commercial and retail opportunities in conjunction with the recent increase in market-rate housing options seen in the Woodlawn community.
“We’re honored to receive this initial investment from the Benefit Chicago fund and we look forward to using this investment to capitalize on projects, and fund pre-development operating costs, setting the groundwork for long-term community impact,” said Leon I. Walker, Esq., Managing Partner of DL3 Realty. “While we are currently focused on Woodlawn, we will continue to partner, develop and invest in high impact commercial real estate projects in emerging communities citywide.”
DL3’s existing and future pipeline of projects is helping to create a new market for private investment in office, retail, hospitality, housing, and service businesses, with an approach centered on meeting the needs of the community. “DL3 is doing incredible work in bringing their ‘venture development’ model to community and economic development,” said William W. Towns, executive director of Benefit Chicago. “This investment will help the new company support neighborhood projects and is laying the foundation for greater investment in Woodlawn and other thriving communities.”
The Chicago-focused impact investment fund created as part of Benefit Chicago has committed $53 million in impact investments since 2016. According to Wikipedia, impact investing refers to investments “made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return.”
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