Louisville has a rare opportunity right now: to move a major community asset from uncertainty to permanence.

For years, the Nia Center has represented something bigger than square footage: a visible, West End hub where small businesses and community-serving organizations can grow side by side. What makes this moment different is that the work has shifted from “wouldn’t it be great” to the close-ready realities that actually determine outcomes—finalizing deal structure, aligning the capital stack, and putting the documentation in place so the project can close, stabilize, and deliver.

As the fiscal sponsor supporting the West Louisville Dream Team, we’re in the process of submitting final materials to a host of potential funders and investors needed to complete the acquisition, including, importantly, a request to the West End Opportunity Partnership (see details below). Funding is the unlock at this point.

The overall raise is $4,000,000 to acquire, close, and begin revitalization of the Nia Center. The financing process now runs on dates: proof of financing is due April 3, 2026, with a targeted closing window in late May / early June 2026.

The request to the West End Opportunity Partnership, in plain terms

As part of completing the $4.0 million raise, we, as fiscal sponsor and applicant on behalf of the West Louisville Dream Team (WLDT) and the community ownership offering it is preparing, is requesting $1,950,000 from The Partnership.

That request has two parts: $1,500,000 as preferred redeemable equity and $450,000 as a grant for building improvements and upgrades.

The $1.5 million earns a 4% annual return with liquidation preference ahead of common equity, meaning it has stronger protection than the common shares that will be held by CFN on behalf of WLDT and the community during the term of the fiscal sponsorship. WLDT/CFN can start paying it back after three years, and if it hasn’t been repaid by ten years, The Partnership can require repayment. There’s no extra penalty for paying it back early. At a future refinance or sale, The Partnership also has an option to convert a portion into up to 5% ownership instead of taking all cash back. If The Partnership prefers, part of this $1.5 million can be structured as a subordinated loan, at interest of 4% and a balloon payment in 15 years.

The $450,000 grant goes directly toward the building improvements and upgrades that have been planned for the building to improve the tenant experience and protect long-term value. It also serves as an anchor within a broader $1,000,000 upgrades grant campaign, helping accelerate visible improvements while the building moves into its next chapter.

What happens next

The next phase is disciplined and time-bound: finish financing commitments, continue tenant engagement and pre-leasing progress, and complete closing preparations so the project can move into early upgrades and stabilized operations.

If we do this right, the Nia Center becomes a proof point—showing what it looks like when community leadership and structured capital work together to produce something durable: a stronger hub for Black, Brown and local entrepreneurship, and an ownership pathway that isn’t theoretical, but real enough to close on.

This is the Nia Center moment. The work now is to turn community voice and values into execution, and long-term community ownership.