Equity With a Twist Makes First Affordable Housing Investments
Equity with a Twist (EQT), a new social capital product developed by LIIF and JPMorgan Chase & Co., provides flexible, low-cost financing to support integrative, outcomes-driven solutions to poverty. Affordable Housing Finance highlights the scope of EQT’s $6 million pilot.
In New Orleans, the Bayou District Foundation (BDF) will be one of the first nonprofits to benefit from the product. EQT’s financing will also support BRIDGE Housing’s Potrero Terrace & Annex in San Francisco, a HOPE SF site, and Jordan Downs in Los Angeles. These projects will transform dilapidated public housing into vibrant mixed-income communities, with programs and services.
LIIF President and CEO, Nancy Andrews explains the importance of taking holistic approaches to community investments, and the promise of robust partnerships:
“Transforming distressed places into opportunity‐rich neighborhoods requires a silo‐busting approach, long‐term commitment from partners, and an organization willing to be accountable for change. Equity with a Twist is a flexible and patient social capital tool that supports high‐impact work with strong social returns, while also generating a modest financial return for investors.”