Dealflow | August 23, 2021

Makhers Studio is building affordable housing from recycled shipping containers

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 23 — The Atlanta-based company raised $250,000 from RSF Social Finance, to lease its first manufacturing facility in Atlanta to build modular shipping container units with community partners in underserved neighborhoods across the country.

Makhers has built five projects to date, including a commercial kitchen and restaurant to support Black food entrepreneurs in Atlanta. Many community development financial institutions remain reluctant to provide financing and some local governments make it difficult to build the affordable units.

“We’ve had to go through this with our first project and that was a lot,” Makher’s Wanona Satcher told ImpactAlpha. “But the more projects we complete, the more people will understand.”

Sustainable housing

The company’s current pipeline includes affordable housing spaces for small business owners, green battery companies and real estate affordable housing developers. Makhers has raised $450,000 toward its $600,000 goal.

Other backers include SheEO, Visa, Esther Dyson, Reed Marill and a crowdfunding campaign on iFundWomen.