Partner of the Month: Merritt Community Capital Corporation

Merritt Community Capital Corporation (Merritt) is a nonprofit dedicated to providing equity capital for affordable housing exclusively in California. For 35 years, Merritt has invested over $1.5 billion dollars to create and/or preserve over 11,600 affordable homes across California through partnerships with developers and funders like LISC. 

In 2022, LISC received a $750,000 three-year grant from Merritt to grow the Housing Development Training Institute (HDTI), a program that supports affordable housing development and capacity building for community-based nonprofit organizations. With this funding, we’ve been able to triple the number of participants and continue training the next generation of affordable housing developers in California. 

Merritt’s grant comes from their Commitment to California initiative, which was launched in 2022 to attract, train, and retain current and future housing professionals via scholarships, internships, career development, and innovative engagement. Focusing on equity, diversity, and inclusion in the industry by collaborating with partners and creating new opportunities for our future affordable housing leaders is fundamental to building a better California for all. 

The skills needed to create affordable housing and economic development projects are complex and varied, and there is a shortage of experienced professionals in this field. With Merritt’s support, the HDTI program helps new and less experienced development professionals hone the skills necessary to thrive in this line of work.

Participants in the HDTI program engage in real housing projects and learn effective development strategies, while also building a professional network to support one another.

“Merritt’s partnership with LISC to grow HDTI is rooted in our dedication of supporting current and future affordable housing leaders through our Commitment to California initiative. HDTI has served the industry for decades, making a deep impact for our nonprofit developer partners. We are proud to fund and support HDTI and look forward to our continued collaboration,” said Merritt’s Program Manager, Celina Pacana.

Through this partnership, Merritt and LISC are not just investing in affordable housing, but in the future of California’s communities by equipping a new generation with the skills and support needed to create lasting impact.

To learn more about Merritt Community Capital Corporation, please click here.