Affordable housing has reached crisis levels even before the pandemic. Our ability to develop more housing has never been more urgent. Nonprofit developers rely on public funds to develop new or preserve housing projects. The current oversubscribed public financing ecosystem is very costly and often takes each housing project more than five years and five financing sources to complete.
The Housing Innovation Fund—the HIFund represents a paradigm shift from the well-meaning, but inefficient, red tape burdened traditional public structure. Instead, it prioritizes performance, impact, certainty, mixed-income, and mixed-use development, and shifts our thought leadership to innovation, creativity, and iteration that focuses on long-term solutions. It’s an innovative approach to housing and community development by raising private capital to accelerate the acquisition, construction, and delivery of catalytic and comprehensive developments for low- to moderate-income households while encouraging and equipping residents to transform their lives and neighborhoods, providing mission-driven returns.
