RAEDI brings investors to Rochester

(ABC 6 News) – For the first time, one Minnesota investment company is hoping to bring investment dollars to Rochester. The money could total 10 million dollars and would help in areas such as housing and start-up companies. The partnership is facilitated by Rochester Area Economic Development Inc. also known as RAEDI.

Community leaders, elected officials, and investors joined with RAEDI to discuss how to invest in the Rochester area.

"We want to build communities and deliver returns," said Brett Reese, founder and, CEO of REVocity.

RAEDI is partnering with REVocity, an investment company known for its work in the Twin Cities. Their goal is to create the $10 million pool and then funnel that money back into the community.

"I have felt for a long time that if we can better assemble the resources, we can better invest in those that need it most," said John Wade, president of RAEDI.

Investors will get to see the positive impact their money has in the Rochester area, and they could see returns a few years down the line — all while working to meet challenges unique to Southeast Minnesota.

"It seems like the Rochester area has a lot of need for housing. So we really hope to address some of those housing needs along with business space needs as companies grow and expand," said Reese.

RAEDI and REVocity said they’ve noticed Rochester especially needs affordable housing and would like to focus some of the real estate funds on building new affordable housing units.

The real estate fund will also branch out to neighboring cities and counties.

"It’s not just Rochester. It’s Stewartville, it’s Byron, it’s Chatfield and it’s Pine Island," Reese said.

All this is to make Rochester a more attractive place to live and work. Organizations will continue to look for companies and nonprofit organizations to invest into the real estate fund, and then choose which entrepreneurs to send money to.