Tag: Affordable Housing

Grosvenor to donate nearly two acres of land to affordable housing developer

Stuart Mitchell

Grosvenor’s North American property business announces its plans to donate nearly two acres of land to affordable housing developer Eden Housing to build 68 low-income apartments for individuals and families earning up to 60% of the area’s median income.  The land is located in the northern part of Los Gatos, at the intersection of Highway 17 and State route 85, within the second phase of the North 40 project. “We are very grateful to Grosvenor for working with us and donating land to our organization. We are delighted to be…

Read More

SoLa Impact’s Black Impact Fund Receives $25 Million Investment from PayPal to Address Racial Equity Through Affordable Housing

Stuart Mitchell

SoLa Impact, a leading minority-led housing developer, has announced a $25 million investment from PayPal for its fourth fund, the Black Impact Fund.  The investment further scales SoLa’s production of high-quality affordable housing in California’s major urban markets. PayPal’s investment in SoLa’s Black Impact Fund is part of PayPal’s $535 million commitment to advance racial economic equity and support Black and underserved communities. “PayPal is uniquely positioned to create economic opportunity for underinvested communities. This investment will contribute to progress in closing the racial wealth gap and providing access to affordable housing in Black and…

Read More

Amazon Launches Accelerator Program to Grow Opportunities for Real Estate Developers of Color and Increase Affordable Housing

Stuart Mitchell

Amazon has announced it is committing more than $21 million to pilot a professional training, mentorship, and capital funding program to help promote real estate developers of color. This two-year, part-time professional development program, which is free for participants, aims to teach real estate developers of color how to advance their careers. It also aims to lower the barriers these developers can face when bidding for affordable housing developments. The goal of the program is to increase the number of professional real estate developers of color who are focused on…

Read More