People should have access to affordable and stable housing that allows them to live with dignity and build a better future for themselves and their families.
Stable and affordable housing is essential for households to access educational, health, and economic opportunities. Current deficits in the affordable housing market continue to hold back far too many families — especially families of color, who suffer from discrimination in the housing market and public policy. We have identified a need for risk-tolerant philanthropic capital to catalyze activity in the affordable housing sector to address these challenges.
We are able to provide capital support for earlier stage, higher risk housing deals with lower returns than the private market would normally bear. This funding will increase the volume of new construction/preservation deals; increase the depth of affordability of units constructed/preserved; and encourage additional lending from other philanthropic funders. AV’s capital could also be used to bring new or marginalized developers into the sector, thereby increasing equity in the developer market while also boosting the overall production capacity for affordable housing.