The City of Coatesville has announced the Coatesville Impact Fund, developed by Activated Capital of New York. The geographically specific fund was created to focus on commercial and residential development with an intentional emphasis on a dual-impact bottom line: return on capital gains investment, plus positive social impact and community revitalization.
“We anticipate deploying $25 million through the fund in Coatesville and its surrounding areas centered on single-family and multi-family residential and small commercial properties,” said Joshua Burrell, Managing Partner, Activated Capital. “Activated also looks to invest in local businesses that are aligned with the values inherent to the Impact Fund. We look forward to working closely with hard-working entrepreneurs who are currently developing business in Coatesville, as well as those people and companies willing to relocate to Coatesville.”
The Fund was established as a result of the QOZ marketing partnership between the city’s administration and the Coatesville 2nd Century Alliance, and as part of an ongoing strategy to create a more vibrant commercial corridor and strong residential neighborhoods.
What sets the Coatesville Impact Fund apart from others is that it is Coatesville-specific. It provides accredited investors the opportunity to realize tax benefits by investing their capital gains, while reaping meaningful benefits of directing those funds toward revitalizing the Coatesville community.
“Our double bottom-line mission is attractive to investors and the city,” said Parveen Panwar, Managing Partner, Activated Capital. “We live in times when people want to know where their food is sourced and how their products are made. We accomplish that by providing high levels of transparency around investment dollars and addressing social impact in Coatesville with three themes: mental health and wellness; financial literacy and education; and economic development and job creation.”
Activated Capital launched the Impact Fund before the COVID-19 pandemic. Although Burrell’s and Panwar’s presence in the city has been restricted, they continue to work toward building investor interest in Coatesville.
Click here to learn more about Coatesville’s Qualified Opportunity Zones.