Dealflow | October 10, 2019

Faith-based nonprofit to invest in affordable housing in Atlanta

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, October 10 – Focused Community Strategies, or FCS, is a faith-based non-profit that aims to boost community stability and wealth in South Atlanta by investing in affordable housing. The organization has been a long-standing programmatic beneficiary of the $1.1 billion Community Foundation for Greater Atlanta.

Now, it’s becoming a portfolio company of the foundation’s $10 million impact fund, GoATL.

GoATL has originated a $500,000 loan to FCS to support the acquisition and conversion of single family homes into affordable and workforce housing.

“We’re taking our partnership to the next level, one where we are both financially and socially invested in the success of thriving families and prosperous communities,” FCS’s Jim Wehner said.

GoATL, which makes flexible debt investments, has invested $6.3 million in affordable housing, small businesses and education since launching last year, including a $1 million loan to LIIF’s charter school finance program.