Since 1924, the Kresge Foundation has been investing in projects that help low-income communities across America. The foundation primarily works to create opportunities for the nation’s poor by making grants, and funding projects related to city education, health, arts and culture, environment, human services, and community development.
Headquartered in Detroit, the foundation is currently a private national foundation worth $3 billion. Human progress is what drives the Kresge Foundation to invest so generously into underdeveloped, and low-income communities. Through grants, the foundation has helped many cities undertake important renovation and construction projects to improve the lives of the poor. These projects also provide further work opportunities for those in need of employment, and thus, accelerate the speed of human progress in a city.
Recently, the Kresge Foundation announced a $30 million fund for a housing project in Detroit. The fund, called the Woodward Corridor Investment, builds houses along Detroit’s Woodward Avenue corridor. These mixed-income houses will offer people located in downtown Detroit affordable housing with access to mass transit. Because so much of Detroit’s downtown housing is not easily affordable, the Woodward Corridor Investment will be an incredible, and highly beneficial addition to the city.
The arts and culture are also very central to the Kresge Foundation’s mission. Restoring broken communities through the integration of arts and culture is one effective way that the foundation has found evokes human progress. Instead of solely focusing grant making on a community’s construction needs, Kresge aims to nourish community in diverse ways, especially via the enriching power of culture and artistic expression.
While the Kresge Foundation has grown hugely over the years, its mission has stayed the same. Low-income cities across the nation have been impacted by the foundation’s funding. It’s no question that human progress has been made possible in so many ways because of the Kresge Foundation.
– Chante Owens