Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Mission investors lend $7 million to restore Sandy-impacted homes

ImpactAlpha – At least 650,000 New Jersey homes were damaged or destroyed during 2012’s Hurricane Sandy, and many have not yet been rehabilitated.

Community Asset Preservation Corporation, the nonprofit real estate arm of New Jersey’s largest community development finance institution, buys vacant and foreclosed homes, rehabilitates them and turns them into affordable housing.

The loan from Community Housing Capital and Calvert Impact Capital will allow the nonprofit to restore 150 homes, removing blight, creating jobs and stabilizing communities, said Calvert’s Kevin Fanfoni.

The total funding pool also included equity investments from local funds and banks and grants from New Jersey city and state agencies.

You might also like...