Our Blog

Jeff Aguy joined the GroundBreak Coalition in March 2024 to help implement solutions that will unlock unprecedented capital for aspiring entrepreneurs and commercial developers. A born entrepreneur, Jeff is helping build innovative systems and teams that will enable more financing to flow toward new and growing businesses and neighborhood commercial developments in the Minneapolis-St. Paul region and beyond. We interviewed Jeff to learn more about what he sees on the horizon for GroundBreak.

The Advancing Black Homeownership program was developed in partnership with aspiring and current homeowners and industry professionals in 2023. Supported by Twin Cities Habitat for Humanity and the Minnesota Homeownership Center, it helps mortgage-ready Foundational Black renters build generational wealth through homeownership. In 2024, the GroundBreak Coalition was proud to support Advancing Black Homeownership with an initial investment of $1.5 million in capital for the program, which expects to leverage support from multiple partners to provide down payment assistance for 110 new Black homeowners this year.

We are pleased to announce Jennifer Ho, Commissioner of Minnesota Housing, has joined the GroundBreak Coalition’s Executive Council, serving in an ex-officio capacity.

GroundBreak Coalition announced its Request for Proposals (RFP) to grant long-term contracts to Low-Cost, Patient Capital Pool and Guarantee Pool Financial Managers. Flexible capital pools will help unlock private-market capital and bridge one-time gaps for aspiring Black homeowners, entrepreneurs, and commercial developers.

In March, the GroundBreak Coalition announced its inaugural Executive Council and an enhanced project team. This month, we are excited to welcome the project team’s newest member, Jeff Aguy, who will be co-leading the launch of Implementation Teams focused on ensuring...

We are pleased to announce the members of GroundBreak’s inaugural Executive Council and Project Team. Learn how GroundBreak is updating its governance and operations to achieve its ambitious agenda!

A key area where we have more work to do, as a Coalition and as a state, is in addressing the affordable housing crisis. Where we live determines everything, and stable housing underpins every other wealth-building activity. However, for too many MSP residents, particularly families earning less than 40% of area median income (AMI), there is an acute shortage of rental housing that is affordable. Identifying long-term and permanent breakthroughs in this area is critical for our region and for GroundBreak’s vision of a future where every resident, no matter their race or background, has the opportunity to build wealth and achieve their aspirations in MSP.

On October 31, GroundBreak Coalition announced an early collective financial commitment of nearly $1 billion to expand wealth building opportunities, with a current focus on aspiring Black homeowners, entrepreneurs, and commercial developers. The news was shared with nearly 200 community members including nonprofit, philanthropic, public, and private sector leaders at Sabathani Community Center in Minneapolis. See highlights from the event.

Over the next decade, GroundBreak is working to secure $1.2 billion in flexible capital to build Black wealth, close racial wealth gaps, and create a more prosperous region for all. This is a leadership moment that will define us. We can show the world what it takes to transform and be a place that truly works for everyone.