Increasing Affordable Housing Across America
July 09, 2017
In June we made a $5 million investment in the Jonathan Rose Companies’ latest affordable housing preservation fund. Jonathan Rose Companies is a leading U.S. development, owner’s representative and investment management firm, with a mission to strengthen communities by developing real estate solutions that build value, enhance resilience, and cultivate well-being. They work with cities and not-for-profits to build green, affordable and mixed-income housing, along with cultural, health and educational infrastructure.
Our investment in Jonathan Rose Companies will be used to finance the acquisition of existing multifamily rental housing properties, with the intention to preserve the affordability of the housing, strengthen its operating performance, and reduce the environmental footprint of the properties through energy efficiency and other structural upgrades.
Since Calvert Foundation first launched over 20 years ago our portfolio has maintained a focus on channeling capital towards the development and preservation of affordable housing. Over this time access to quality, safe affordable housing has continued to be a pervasive issue across the U.S., and through our lending we are working to address this. We believe that access to safe, stable, and affordable is a critical determinant of a person’s and family’s health, economic future, and happiness.
This investment marks an ongoing growth of affordable housing work with an increased focused on developing green, sustainable homes and communities, in alignment with our renewable energy and environmental sustainability focus. We look forward to tracking both its social and environmental impact.