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Impact Investing Community of Practice Call: Homelessness and Affordable Housing
September 13, 2018 @ 10:00 am - 11:00 am
We all are well aware of the shortage of affordable housing in our communities. In San Diego, SVP partners and are working with a few local partners to use impact investing structures that can serve the 4-50 unit market for families under 80% AMI. In this space, the larger developers and tax credit structures generally only work with the 50+ unit projects, leaving a significant gap in financing, particularly in infill areas with smaller parcels. It’s not always about building new projects, there’s also a significant need for preservation and rehabilitation of existing affordable units by bringing capital to acquire or refinance those that might lose their affordable designations. Partnerships with nonprofits like City Heights CDC and San Diego Habitat for Humanity allow us to bring financing solutions to experienced operators that can increase our available supply of quality affordable housing.
David Lynn, SVP San Diego Partner and CEO of Mission Driven Finance will share the details of this work and will answer questions from Community of Practice members.