News Archives
2016
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Sears Crosstown Project Creates Jobs, Emphasizes Diversity
The $200 million Sears Crosstown project has exceeded expectations to spend 25 percent of the project’s construction costs at firms led by minorities and women. To-date, 29 percent of the funds have been allocated to such construction firms, project leaders have revealed. More Information: Learn more about Crosstown’s diversity Read more about LIIF’s partnership on […]…
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New Social Capital Product Impacts New Orleans Neighborhood
In New Orleans, the Bayou District Foundation (BDF) will be one of the first nonprofits to participate in LIIF’s pilot of a new social capital product. Equity with a Twist (EQT) provides flexible, low-cost financing to support and incentivize integrative, outcomes-driven solutions to poverty. The $ 6 million pilot will also support BRIDGE Housing’s Potrero Terrace […]…
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Bayou District Foundation in New Orleans to Receive Equity With a Twist Financing
This week, LIIF and JPMorgan Chase & Co. announced a new way to invest in social change. Equity with a Twist (EQT) is a social capital product that provides flexible, low-cost financing to support and incentivize integrative, outcomes-driven solutions to poverty. In New Orleans, the Bayou District Foundation (BDF) will be one of the first […]…
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The Low Income Investment Fund and JPMorgan Chase Pilot Innovative $6 Million Social Investment in Nation’s Distressed Communities
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Partners in Progress Assists Growth of Flushing, NY Community Developments
Last week, the Flushing 2015 Community Building Initiative was announced by Asian Americans for Equality. The project aims to provide the community with more than 1,000 units of affordable housing in ten years, and 1,000 jobs in five years. In 2014, Partners in Progress – funded by Citi Foundation and LIIF – began scoping this project […]…
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NYU Langone Signs on at LIIF Financed Essex Crossing Site 6 Development
This week, NYU Langone’s Joan H. and Preston Robert Tisch Center signed a lease to occupy a 55,000-square-foot space at Essex Crossing’s Site 6 on the Lower East Side. The medical facility is part of a larger 1.9 million-square-foot mixed-use development, which is headed by Delancey Street Associates and will serve many of the neighborhood’s […]…
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LIIF Unveils Social Impact Calculator 2.0
In December, LIIF launched the Social Impact Calculator 2.0, an updated tool that allows community developers to measure the true impact of their investments. The Social Impact Calculator aims to help answer the question “What works to improve the lives of children and families?” This iteration of the resource allows users to calculate an internal […]…
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Massachusetts Sees Push for Healthy Foods Initiative
Advocates in Massachusetts are campaigning on behalf of the Massachusetts Food Trust, a fund that would incentivize grocery stores and food markets to open their doors in a state that needs increased access to healthy foods. Though Massachusetts is one of the wealthiest states in the country, it has fewer than one supermarket for every […]…
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LIIF Invests in Clinton Hill Site Designated for Affordable Housing
Clinton Hill, Brooklyn will soon see the construction of an affordable housing building as part of an ongoing Brooklyn Heights Library redevelopment project. LIIF provided an $11.1 million acquisition loan to Hudson Companies for the purchased a 25,000-square-foot site which will accommodate 78 residential units. In addition, a public library branch will be located on site. […]…
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LIIF’s Investment Creates Affordable Senior Housing and Community Space in New York
LIIF supported Delancey Street Associates’ with a $6 million construction loan to finance the Essex Crossing development in New York’s Lower East Side. The site also received a $12 million New Markets Tax Credits allocation. Once completed, the mixed-use building will accommodate 100 affordable senior-living apartments, in addition to space designated for nonprofit, community, and medical facility […]…
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