For far too long, Black communities in St. Louis have faced systemic barriers to building and maintaining wealth. As neighborhoods undergo rapid change and gentrification, Black residents are oftens displaced or unable to secure the economic opportunities needed to thrive. Recognizing this challenge, our Invest STL Policy + Design Activation team launched Rooted: Cultivating Black Wealth in Place, a first-of-its-kind direct wealth-building initiative aimed at supporting Black residents with financial resources, tools, and relationships to stay and build wealth in their chosen neighborhoods.
Why St. Louis?
As the location for the three-year Rooted pilot, St. Louis provides a unique opportunity to test and refine strategies that can be scaled to other cities facing similar challenges. The program focuses on the West End and Visitation Park neighborhoods — areas rich in Black history and culture, but experiencing increasing development and real estate speculation that threaten long-term residents. By implementing and investigating Rooted here first, we’re creating a blueprint for anti-displacement strategies that can be replicated in other communities.
We set clear goals to focus the initiative and indicators that can determine impact at the end of the pilot.
Goals
- Prevent displacement of long-term Black residents
- Increase the ability of long-term residents to build wealth
Indicators of Impact
- Families have assets that can be passed down generationally.
- People can afford to remain in their neighborhood
How Rooted Builds Black Wealth
Rooted is more than just a financial investment—it’s a holistic approach to wealth-building. The program provided 50 Black residents, known as “resident investors,” in the West End and Visitation Park neighborhoods with $2,000 to address immediate financial needs, such as paying down debt or creating an emergency savings account, and a $20,000 investment to support long-term wealth building. The initiative also provides the resident investors with a Certified Financial Planner at no expense to assist with building a personalized plan to build wealth and help resident investors reach their goals.
This $20,000 investment may be used to:
- Purchase property in the neighborhoods to secure generational wealth
- Complete property repairs or upgrades in the neighborhoods to improve living conditions and property value
- Start or grow a small business in the neighborhoods to drive local economic growth
- Add to an investment account to secure long-term financial stability
Additionally, beyond the financial support, Rooted resident investors receive one-on-one financial planning, access to estate planning services, and guidance on credit and wealth management. These are all critical tools to ensure financial decisions lead to sustainable prosperity, while ensuring resident investors have autonomy and choice over their decisions.
Early Impact + Success Stories
Since its implementation in 2023, Rooted has had a significant impact in the community:
- Businesses Launched + Grown: Six resident investors have used their funds to start businesses and two scaled up their businesses, contributing to local economic growth.
- Property Investments: 24 resident investors made essential property repairs and upgrades, increasing their property’s long-term value.
- Financial Growth: 19 resident investors opened investment accounts, prioritizing long-term wealth-building.
- Generational Wealth Planning: 16 resident investors secured beneficiary deeds, ensuring their homes can be passed down for generations.
What’s Next?
With the lessons learned and documented from the Rooted pilot, we’re poised to expand the initiative’s impact. We outlined our process, experiences, and approach from our pilot in the West End and Visitation Park to help others build similar wealth-building and anti-displacement projects for their neighborhoods and cities.
The ultimate goal? To create a nationwide movement that redefines wealth-building as a place-based investment strategy for Black and other communities at risk of displacement and erasure.
Interested in Learning More?
Whether you’re an elected official or neighborhood organization member looking to implement a similar project, or a funder or community member looking to support the initiative, Rooted is an emerging model to advance long-term, neighborhood-level wealth-building strategies. Visit our Rooted page to explore how this initiative is shaping the future of St. Louis and beyond.
Check out our News + Updates page to stay informed about other Invest STL initiatives and work like Rooted.