With new investments from BOK Financial, Charles Schwab Bank, and KeyBank, the Dallas Housing Opportunity Fund will expand its support for quality affordable housing across the city. In partnership with the City of Dallas, LISC Fund Management and TREC Community Investors, the fund has already supported nearly 500 units of affordable housing.

Beulah Land Development Corp. is working in partnership with New York-based construction company Spiritos Properties, and housing nonprofit HELP Development Corp., to develop vacant lots at 340 Dixwell Ave. into a 69-unit mixed-use project. The $28 million project was partly financed by the National Equity Fund (NEF)—a LISC affiliate focused on LIHTC and other housing investments. 340 Dixwell is the first Low-Income Housing Tax Credit (LIHTC) project on the East Coast utilizing mass timber, an eco-friendly alternative to steel and concrete, and will include 55 affordable units for low-income households earning 60 percent or less of the area median income, and an additional 20 units for people experiencing homelessness.

An article in Bloomberg highlights MacKenzie Scott’s recent unrestricted grant-making to nonprofits, including a $65 million gift to LISC. Unrestricted gifts like this, in addition to Scott’s 2020 donation of $40 million, allow LISC to intensify and build upon its work with a more flexible and innovative approach. As our CEO Michael Pugh noted to Bloomberg, “the ability to have unrestricted giving like this frankly allows us to unlock and tap into the American Dream for everyday Americans across our country.”

Heirs' property issues have long been a leading cause of involuntary land loss, particularly among Black families. With a new $750,000 multiyear grant from the U.S. Bank Foundation Opportunity Fund, LISC will work with community-based organizations in Cincinnati and Cleveland to provide families with estate planning, legal support and financial counseling that can help clear up clouded property titles and preserve homes for future generations.

LISC Fund Management has teamed up with the City of Cleveland and KeyBank to launch a new affordable housing investment fund, with authorizing legislation approved last night by the Cleveland City Council. The fund ultimately seeks to invest $100 million to fuel quality affordable housing across the city, with a focus on serving underrepresented communities and stimulating growth.

The CDFI Fund announced $408M in funding for 357 CDFIs to provide financial products and services for underserved individuals and communities