At Marcus Reinvestment Strategies, LLC, we are dedicated to community redevelopment. We believe that utilizing the tools and talents embedded in a community is the most sustainable approach to long term redevelopment. Outside capital and expertise can help a community reach its potential, but those that live in the community now and in the future must have a stake in the outcomes. After all, they will have to live with them.
The client makes the decisions. Our role is to help facilitate and advise by providing data, analysis, our expertise as well as the assessment of other experts and specialists, but at the end of the day, the decisions must rest with the client.
We believe that we will succeed through the long term success of our clients and our ability to work with them on a repeat basis. Without the trust and honesty in a client relationship, we will not be successful advisors.
We are confident in our abilities to deliver quality service in the field of real estate development and finance and trust that you will be too. When we don't have the skills needed for a particular project, we'll bring the partners needed to get it done right.
First Step Staffing from Atlanta has piloted a simple but effective model to provide a first step back into employment for homeless and returning citizens in Atlanta where they serve 1000 individuals per day. In 2018 they brought that model to Philadelphia. With the participation of multiple parties, the CDFI community, homeless service providers and social investment community, helped make this occur. First Step Staffing (FSS) acquired a local labor staffing agency in Philadelphia to operate a second location of their staffing business (after Atlanta) with more on the way. FSS now controls about 600 jobs per day in Philadelphia where they will be placing the homeless clients or returning citizens, providing transportation to the sites and ensuring that they have the supports they need to stay in the job. FSS believes that earning a wage is the first step to providing a path back into society.
Marcus Reinvestment Strategies was pleased to work with 2 of our clients to make this happen. MRS underwrote the senior financing for LISC's participation of $1.2 million in the senior financing. MRS also worked with Impact Loan Fund to commit $75,000 of subordinate, social investment capital, to help create the equity-like cushion needed for the project.