Our Growing Diverse Housing Developers (GDHD) initiative was spotlighted in an Urban Land Institute article, “Access to Capital: Solutions for Black Developers to Overcome Funding Challenges.” The GDHD program supports the growth of BIPOC-led affordable housing developers across the nation, with a focus on California, Georgia, Texas, New York City, Philadelphia and Washington, D.C. In addition to supporting the enterprise growth of these developers, GDHD has the goal of producing at least 1,500 units of affordable housing. CDFIs Capital Impact Partners and Reinvestment Fund are partners in this work, with Wells Fargo serving as funder.
Read the article.
Goals are to increase the supply of homes that are available and make sure that the development firms have the capacity to attract enough capital from other sources in the space. The goal is to develop 1,500 affordable housing units nationwide over four years.
Urban Land Institute article