“We have always thoughtfully invested in our communities, and the Opportunity Zone legislation allows us to take the next step,” says Fifth Third's Catherine Cawthon.
The fund, launched by Cedrus & Partners and Swiss Life Asset Managers in April 2019, aims to re-house up to 2,000 people facing difficulties over the next ten years.
- The Echo Park Neighborhood REIT will be structured as a public-benefit corporation and managed for the long term health of the community. Individuals will be able to invest as little as $100 and own a share of the income produced by the real estate portfolio as well as its underlying value.
- Social media giant Facebook became the third tech company this year to commit capital to affordable housing in West Coast cities.
- With its Reconstruct Challenge, Louisville-based Access Ventures, aims to identify approaches to reduce ancillary costs, including transportation and food costs, that can push many families’ total housing costs north of 50% of disposable incomes, founder Bryce Butler told ImpactAlpha.
- Kapor Capital noted that its investment in the firm was based on the company’s potential to provide “well-designed, well-constructed housing” to people “across the entire socioeconomic spectrum.”