social enterprise impact
Post on 06-Mar-2016
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Diamond Management, Inc. (DMI) oversees property development and management, business development, contractor development, and operations for the Jacobs Center for Neighborhood Innovation. DMI’s mission as a training business is to reclaim blighted properties and build social and economic value in the Diamond Neighborhoods.
Market Creek Events & Venues is a dynamic social enterprise venture that builds a bridge between the Diamond Neighborhoods of southeastern San Diego and the city’s multi-billion dollar meetings and events industry.
Resident ownership of a significant community asset is made possible through Market Creek Partners, LLC. This limited-liability company owns Market Creek Plaza.
SOCIAL ENTERPRISEWhere social mission meets the marketplace to drive the economic engine of The Village at Market CreekHarnessing the power of the local economy makes business in The Village financially viable. At the same time, businesses look to a double-bottom line with social goals like creating new jobs, providing training and capacity-building, and opening opportunities for resident ownership.
MARKET CREEK EVENTS & VENUES
MARKET CREEK PARTNERS, LLC
DIAMOND MANAGEMENT, INC
Our social enterprises are intended to be planned,
staffed, managed, and owned by community residents.
Some hold land for commercial, industrial,
and residential projects being planned, designed,
and built by community residents, while others
create opportunities for employment, management
training and, ultimately, business ownership.
895 events with over attendees were hosted at Market Creek Events & Venues in 2012.
90,000EVENTS
91,06983,487
75,343
51,791
9,000
100,000
80,000
60,000
40,000
20,000
020122011201020092008
$5MILLION
$1.2M in revenue in 2012. Sales since opening in 2008
SALES
EMPLOYMENTFull Time 12On Call 56
Local 43%
150+ residents have received hospitality training and experience. Annual training investment $30,000
TRAINING
In 2008, a group of Diamond Community Investors pooled their dividend distributions for future investment.
COMMUNITY INVESTMENT FUND
$14,300
$39,411
$59,081
$77,402
$90,973 $92,908
$0
$20,000
$40,000
$60,000
$80,000
$100,000
2007 2008 2009 2010 2011 2012
PROFITS RETURNED TO COMMUNITYDiamond Community Investors $225,000Neighborhood Unity Foundation $255,000
TOTAL $480,000
Individual community stakeholders purchased $500K worth of shares (at $10/share) in Market Creek Partners, LLC. Neighborhood Unity Foundation also invested $500K.• DiamondCommunityInvestors 20%• NeighborhoodUnityFoundation 20%• JacobsCenterforNeighborhood 56% Innovation• DiamondManagement,Inc. 4%
Shares typically earn community investors a 10% return on their investment.
OWNERSHIP
CONSTRUCTIONNEW CONSTRUCTION SQUARE FT.
Market Creek Plaza 104,000Elementary Institute of Science 15,000Joe & Vi Jacobs Center 78,000
TotalNewConstruction 197,000
CREEK RESTORATION LINEAR FT.
Chollas Creek River Parkway 1,200Chollas Creek Tributary 900
TotalCreekRestoration 2,100
RENOVATION SQUARE FT.
BRYCO Business Park 42,000
TotalRenovation 42,000
MILLION
Value of Village construction contracts over $39.7
CONTRACTING
Minority- or women-owned 79%
MILLION
New construction, renovation, and creek restoration over
DEVELOPMENT COSTS
Building & tenant improvements $421,000
completed projects
$60.1
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