This study investigates the impacts of a small anchor institution, Millsaps College, on the revitalization of an inner-city, socioeconomically challenged community in Jackson, Mississippi. The motivation for this effort was both altruistic and academic: Both the desire to help an underserved community adjacent to campus, and the goal of providing students with valuable and meaningful entrepreneurial learning opportunities, compelled this work. The strategic approach was community centered, with a focus on partnerships to leverage creative assets for economic development. This work has yielded both quantitative and qualitative impacts, having supported improved physical characteristics in the neighborhood and business environment and elicited positive responses from the residents. This approach serves as a model for smaller anchor institutions to both foster creative entrepreneurship in their communities and provide a vehicle for students to gain valuable business experience.