Redevelopment creates community through nonprofit
SAN FRANCISCO BUSINESS TIMES | Forest City’s experiment in unorthodox development at the San Francisco Chronicle property at Fifth and Mission streets, explains San Francisco Business Times, is taking a new twist with the establishment of a nonprofit that will focus on job and entrepreneurship training, as well as community and youth programs. The creation of 5M.org “reflects Forest City’s deep interest in having the project be interwoven into the community,” Alex Michel, 5M Director, said.
The nonprofit, 5M.org, is a collaboration between Forest City and Intersection for the Arts, and is being kicked off with a $777,000 grant for “placemaking” from ArtPlace, a consortium of foundations, federal agencies, and financial institutions. Other 5M tenants involved in the project are: the Hub, which supports social entrepreneurs; and TechShop, a do-it-yourself workshop that gives members access to tools, equipment, instruction and a creative community.
Read the full article here Subscription required.