[Raleigh, NC] December 6, 2022 — Southeast Raleigh Promise, the YMCA of the Triangle and Self-Help welcome you to a groundbreaking celebration for Beacon Point, a community hub designed to bring health and wellness, financial services, and nonprofit and small business services and other community resources to complement existing affordable housing, education and wellness services in the neighboring community and Raleigh as a whole.
When: Thursday, December 8, 2022, from 10:00 – 11:30 am
Where: 1436 Rock Quarry Rd Raleigh, NC 27610
PHOTO OPPORTUNITY: Presentation will take place inside the YMCA gymnasium followed by an outdoor groundbreaking ceremony inside the gate of the Beacon Point construction site.
Light breakfast refreshments will be served. Please navigate to 1436 Rock Quarry Rd and park in the rear parking lot, directly across from the soccer field.
WHY: Partners plan a 43,000 square foot development across two buildings on the Beacon Point lot, with outdoor areas for café dining, and food trucks. This commercial-retail space scheduled to open in 2023. Committed and prospective tenants include:
- A rotating specialty care health clinic operated by UNC Health Specialty Care.
- A complex care health clinic operated by Advance Community Health, a Federally Qualified Health Center.
- A Black-owned coffee shop and café serving fresh and healthy salads, soups, and sandwiches.
- Southeast Raleigh Promise’s headquarters, so that they can locate their staff in the community they serve.
- A branch of Self-Help Credit Union, a community development credit union with a long history of providing affordable financial services.
- Additional suites available for nonprofits and small businesses.
The project is part of the Purpose-Built Communities initiative spurred by Southeast Raleigh Promise, the YMCA of the Triangle along Rock Quarry Road in Southeast Raleigh, a historically Black neighborhood that has long experienced generational low wealth and disinvestment. The effort is home to the Southeast Raleigh YMCA, which includes an outdoor pool; Southeast Raleigh Elementary School, a Wake County public school serving over 350 students; Beacon Ridge, 120 affordable apartment homes developed by DHIC, a local nonprofit, where over 275 individuals, families and children live.
Each element of the Beacon Point project responds to the needs of the community and provides programs, services, and opportunities essential to the success of families and the community at large. Tenants at Beacon Point will provide an estimated 90 permanent jobs2, serving approximately 85,000 customers per year. Additional impacts will stem from millions of dollars of design and construction investment to help support jobs while the project is under development, including a focus on significant utilization of federally designated Minority and Women-Owned Business Enterprise (MWBE) contractors.
Self-Help Ventures Fund, a nonprofit sponsor, was selected by the YMCA of the Triangle to develop the capstone Beacon Point with a mix of commercial uses that complement the neighborhood’s broader plan. Our vision for Beacon Point is to make it a hub of health and wellness, financial services, and nonprofit and small business services that is closely connected to the rest of the Beacon Site and to Raleigh as a whole. This vision is the result of a community planning process and aligns closely with Self-Help’s broader mission to create and protect wealth and economic opportunity for all, especially women and people of color.
About the Self-Help Ventures Fund
The Self-Help Ventures Fund is a nonprofit 501 (C)(3) loan fund capitalized with loans and grants from foundations, religious organizations, corporations and government sources. It manages Self-Help's higher-risk business loans, real estate development and home loan secondary market programs. The Self-Help Ventures Fund is a part of nonprofit Center for Community Self-Help, a family of nonprofit organizations whose collective mission is to create and protect ownership and economic opportunity for all. For over 40 years, the national Center for Community Self-Help and its affiliates have provided more than $10.5 billion in financing to help more than 150,000 borrowers buy homes, start and grow businesses and strengthen community resources. For more information, please visit www.self-help.org.