Two amazing organizations are coming together to make a big difference in affordable housing in Atlanta. Mark Crosswell, Managing Director for Social Impact Strategy at the Community Foundation for Greater Atlanta and Ashani O’Mard, Senior Director of Capital Development at the Atlanta Neighborhood Development Partnership joins us today on our All About Real Estate episode to discuss how their partnerships are helping the people of Atlanta and scaling up the region to help others.
Earlier this year, the Community Foundation for Greater Atlanta announced the first of its kind GoATL Fund, which is an impact investment fund designed to support the long-term sustainability of programs and solutions that address the region’s areas of greatest need. GoATL’s first investment was a $750,000 commitment to Atlanta Neighborhood Development Partnership (ANDP) and is currently being used to help grow successful single-family revitalization programs in order to help expand housing affordability in targeted neighborhoods in the region.
One of the main goals of the GoATL Fund is to generate a positive social outcome along with a financial return. Through impact investing, funders look for ways to strategically invest new forms of capital to scale and sustain nonprofits and social-purpose for-profits. Unlike traditional methods that typically rely on grants, GoATL’s impact investments are structured as flexible, cost-effective loans that are expected to be paid back, thus recycling the dollars to consistently fund new initiatives into the future.
The GoATL intends to make investments primarily through organizations, like ANDP, or other Community Development Financial Institutions (CFDIs), that have the knowledge and expertise of how to deploy loan capital for critical needs in our region. ANDP also prides itself on partnerships with various organizations to help promote and create communities through direct development, lending, policy research and advocacy. For more information on the programs offered by ANDP and the homes that are currently on the market, visit www.andpi.org.
To learn more about how ANDP and GoATL are working together towards common purposes, tune into the podcast with the link above. For more information on the Community Foundation for Greater Atlanta or GoATL, visit cfgreateratlanta.org. For those interested in impact investing, visit www.gasocialimpact.com.
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