ConnCORP and The William Caspar Graustein Memorial Fund have announced a $10 million mission-driven investment in ConnCAT Place on Dixwell, a mixed-use development in New Haven’s historic Black community. This project aims to provide affordable housing, job training, office space, and more, empowering local residents while protecting against gentrification.
Sheena Strawter-Anthony, director of impact investment strategy for the Memorial Fund, highlighted the unique loan structure designed to support the community without extracting resources. Erik Clemons, CEO of ConnCORP and ConnCAT, praised the partnership’s success, emphasizing the importance of ethical investments in Black-led organizations.
The Memorial Fund and ConnCORP aim to inspire other foundations to align their endowment investments with their missions, promoting equity and community well-being.