Dealflow | November 5, 2020

Charlotte investors commit $58 million to preserve affordable housing

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, November 5 – The Housing Impact Fund, managed by Ascent Housing, has raised $58 million to acquire and preserve affordable 1,500 units in gentrifying Charlotte neighborhoods at risk of losing affordable housing. 

The fund is backed by $20 million from the Charlotte Housing Opportunity Investment Fund, a public-private impact fund managed by Local Initiatives Support Corp., and $15 million from Charlotte-based Truist Bank. 

Atrium Health, LendingTree, Movement Mortgage and nine local real estate firms also invested.