New Fund Available for Black-Led Affordable Housing Developers

Posted By: Stephanie Beeman Blog ,

Last month Goldman Sachs announced a new initiative to increase access to capital for Black housing developers. The company announced a $75 million investment with the National Affordable Housing Trust (NAHT) as part of its One Million Black Women Initiative.

The goal of the fund, Black Developer Capital Initiative, is to creat more equitable access to capital for Black developers by providing greater access to Low-Income Housing Tax Credit investment capital and support throughout the development process. 

“This fund is a key step in our commitment to ensuring there is equitable access to impact market-rate capital for Black developers as they work to address our nation’s affordable housing crisis,” Lori Little, CEO of NAHT, said in prepared remarks, reported in GlobeSt.com.

The initial investment will be deployed in new construction in Rome, GA through South Meadows.

Read the entire article HERE.