Stories
Mass Timber Housing Brings Sustainable and Affordable Hope to a New Haven, CT Community
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.
Vision Quest: This Can-Do Indianapolis Company Is Growing its Business—and a Healthier, More Diverse Supply Chain
Quest Safety Products, a small, minority-owned distributor and maker of personal protective equipment and other safety products, has a 27-year track record of meeting customer needs. Now growth capital from the Abbott-LISC Initiative to Support Diverse Businesses in Health is helping CEO Sam Yadav realize an expansion, boosting resiliency in a supply chain that’s vital to us all.
CDFI Serving African Immigrants in the Twin Cities Increases Capacity With Help From LISC
Dr. Gene Gelgelu founded African Economic Development Solutions (AEDS) in St. Paul, MN to help fellow African immigrants build wealth through entrepreneurship and homeownership. LISC has been by his side, offering guidance and support, since the organization’s inception. Our latest contribution: nine LISC AmeriCorps - Economic Mobility Corps members who enhance the capacity of AEDS while getting a taste of what it’s like to work in community development.
LISC Impact Notes and Racial Equity: An Update on Progress
In 2020, LISC Impact Notes pledged to support Project 10X and invest in racial equity. In the blog below Kathleen Keefe, LISC's Investor Relations and Portfolio Reporting Lead, shares the important projects Impact Notes has taken on to reach 10X goals.
Emergency Management Consulting Firm is Charting New Territory, with Help From LISC
Houston-based Laveer Logix recently received a $260,000 working capital loan from LISC to expand its capacity to serve federal agencies and fuel growth through new contracts. The loan was supported by the Abbott-LISC Initiative to Support Diverse Businesses in Health and the LISC Entrepreneurs of Color Fund supported by JPMorganChase.
Recipe for Success: Increasing Homeownership Among Black Families in Spartanburg, SC
U.S. News and World Report recently named Spartanburg, South Carolina the 12th fastest growing place in the country. This growth has put more pressure on an already strained supply of affordable housing, putting homeownership further out of reach for longtime Black residents. With support from LISC Upstate South Carolina, Oak and Ave Property Group – a Black-owned housing developer and full-service brokerage – is helping more families realize their goal of homeownership.