BLOG

Why Asset Building?

Since our inception Nexus Community Partners (formerly Payne Lake Community Partners) recognized that asset building is key to helping communities and neighborhoods thrive for future generations.  Originally, we saw this work as building small businesses, building employment and training opportunities with larger businesses and institutions and by increasing homeownership amongst immigrants and communities of color. 

Through our initial support of key cultural CDC’s like African Development Center (ADC) and Latino Economic Development Center (LEDC) we helped build the capacity for small businesses to start and grow in Minneapolis and St. Paul.

We were also able to partner with others to bring the successful Center for Working Families to the Twin Cities, bringing support to workers through the provision of bundled financial services, career laddering assistance, coaching and income enhancements.

Lastly, with support of a $2 million grant from the John S. and James L.  Knight Foundation, Nexus Community Partners created the East Side Housing Initiative (ESHI). This initiative works to increase homeownership rates in East St. Paul by providing a unique framework centered around readiness (preparing and educating potential homeowners), access (ensuring proper products when residents are ready to buy), and success (preventing foreclosure). 

Over time, Nexus has expanded our definition of asset building to include investing in the development of more responsive and responsible asset builders, developing greater levels of social and human capital in neighborhoods and leadership development. Our asset building strategies are a strong compliment to our community engagement strategies, together both help build more engaged and powerful communities. 

To learn more about some of the impact of our work visit our Impact or Resources Page. 

---