Announcing $1 Million Impact Investment in Metropolitan Village Development

The Winston-Salem Foundation announces a $1,000,000 equity investment in Metropolitan Village, a multi-phase workforce housing project in the East End neighborhood of Winston-Salem, east of Highway 52 near downtown Winston-Salem.

A Different Way of Investing
This is the largest investment to-date from the Foundation’s Inclusive Economy Portfolio, a mission-aligned investment fund to strategically leverage its financial assets using the corpus of the Foundation’s endowments to invest in local businesses and organizations working for social change.  

Unlike traditional grantmaking, these local impact investments leverage the Foundation’s own endowment assets to provide not only a social return, but also a financial return that can be reinvested in the community. This program complements and supports the Foundation’s community investment goal of  building an inclusive economy.

Promoting Health & Affordable Workforce Housing
The Metropolitan Village project was initiated by United Metropolitan Missionary Baptist Church to catalyze reinvestment in their neighborhood, and they engaged multiple community partners to make this a reality. The project is being developed by a partnership including United Metropolitan Missionary Baptist Church CDC, Liberty Atlantic, Atrium Health, APG Capital, and Catalyst Opportunity Fund. Liberty Atlantic is a Black-owned North Carolina-based firm that is serving as developer, general contractor, and property manager.  

Lyvonne Bovell, Chief Operating Officer of Liberty Atlantic, says, "Metropolitan Village is more than a development; it's a testament to Winston-Salem's resilience and commitment to inclusive growth. Through a unique partnership between the church and the private sector, we are setting a precedent for how communities can come together to address critical needs while fostering a sense of belonging and prosperity."  

This development provides much-needed affordable workforce housing for essential workers, while adding significant investment in a neighborhood that has been negatively impacted by a history of redlining, displacement, and disinvestment. In total, Metropolitan Village will include 323 units of below-market rate housing, with 25 units deeply discounted to prevent displacement of long-term residents. To help fulfill the vision of housing that promotes health and wellness, the development also includes space for the Maya Angelou Center for Health Equity.

LaTida Smith, president of The Winston-Salem Foundation, notes, “So many of our neighbors are burdened by housing costs and are paying more than 30% of their income on rent. This investment brings together many partners from across the community to provide affordable housing for nurses, teachers, and other essential workers, while simultaneously investing in a neighborhood that has experienced systemic disinvestment. The Foundation is excited to invest our assets in this innovative way.”

To learn more about the Foundation’s mission-aligned investments, visit https://wsfoundation.org/impact-investing.

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About Metropolitan Village and Liberty Atlantic
Metropolitan Village, pioneered by United Metropolitan Missionary Baptist Church (UMMBC) and Liberty Atlantic, is reshaping Winston-Salem's economic and social fabric through privately financed, scalable workforce housing. Positioned adjacent to Innovation Quarter, this initiative not only provides affordable housing but also ignites regional prosperity by addressing the critical need for workforce accommodations. Emphasizing scalability, deep-rooted community partnerships, and a comprehensive approach to health, wellness, and economic mobility, Metropolitan Village serves as a model for sustainable and equitable urban development. Its strategic blend of housing solutions, healthcare programs, and economic opportunities fosters vibrant, inclusive neighborhoods, making it a cornerstone for future urban planning and economic growth. For more information, visit metrovillage-ws.com.

Liberty Atlantic is at the forefront of transformative real estate development, dedicated to crafting sustainable, service-enriched living spaces for the community's essential workers and learners. As a comprehensive developer, general contractor, and property manager, they offer a complete turn-key solution to activate latent, underserved land, bringing quality, affordable housing to the forefront. Their approach is to forge strategic partnerships that not only boost economic mobility but also weave together health, wellness, and cultural enrichment, pioneering the integration of healthcare and housing. This innovative synergy cultivates vibrant, inclusive neighborhoods focused on the holistic well-being of residents. Learn more about their visionary projects at libertyatlanticgroup.com.

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