INNOVATION HUB Rise Giving

to Equitable Wealth

By Drew Gieseke

The team at Rise understands that communities can’t be developed from the outside looking in. To make actual, impactful change, the people living in the community need to be involved every step of the way.

This approach is helping the nonprofit community development organization make a difference in many of the St. Louis neighborhoods that have been overlooked by developers.

“We do not come to the community development table like we are in control of the process or have all the answers,” says Terrell Carter, DMin, the president and executive director of Rise. “Instead, we hope to be part of a team that brings as many people and resources as possible to the table to address the needs of our communities and identify the steps available to bring about positive change for the people who live there.”

Rise is a nonprofit organization that connects communities with local institutions to empower the revitalization of neighborhoods in Greater St. Louis. This mandate manifests in a variety of development projects, including the construction of affordable single and multi-family housing units.

Since its founding as Regional Housing Alliance in 1989, Rise has helped develop more than 5,500 homes and 137,000 square feet of commercial space in 42 communities across the St. Louis region. Carter describes Rise as a utility player in this process.

“In addition to bringing our expertise in housing development, community-focused planning and financial assistance, we also bring long-term relationships with other nonprofits, financial institutions and governmental agencies to bear on the community development process,” he says. “We regularly utilize these relationships to ensure doors are opened and the necessary resources and expertise are made available and accessible to those who need them.”

The organization is also a Community Development Financial Institution, which permits them to make flexible, responsive capital available to people in the St. Louis community development sector who typically wouldn’t have access to funding. For example, Rise’s CDFI business plan was developed in response to a market study that found a significant lack of capital for small real estate developers, especially those working north of Delmar Boulevard, which is known as the city’s racial dividing line. Through its efforts, Rise hopes to build wealth more equitably with a strong focus on the capital needs of communities of color.

“Rise CDFI supports our existing work in areas where appraisal gaps prevent traditional lenders from doing business, and a lack of coordinated community-driven plans and investment strategies have perpetuated inefficient and insufficient development,” Carter says.

Up next, the organization plans to construct housing projects and multiple community- based partners through the Missouri Housing Development Commission, from which it secured funding in 2022. Donations can also be made on the Rise website.

Rise continues to make inspiring progress, believing that strong neighborhoods are an essential component in forming strong cities. The people in these neighborhoods, Carter explains, are the ones that can really bring lasting change to the region.

“Instead of telling people what is best for them, this process asks them to help create the solutions that are best for their communities,” Carter said. “They are the experts about their communities, and we should be listening to them.”

Rise, 1627 Washington Ave, St. Louis, MO 63103, 314-333-7000, risestl.org