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What is the Supportive Housing Solutions Fund?

The Solutions Fund is the first ever national loan fund dedicated solely to supportive housing.  With an initial investment from the Wells Fargo NEXT Award for Opportunity Finance, CSH was able to engage support from philanthropic leaders the Conrad N. Hilton and Robert Wood Johnson Foundations in addition to financial sector leaders Bank of America, Deutsche Bank, HSBC Bank and Morgan Stanley.

The Solutions Fund will start with an initial capitalization of $45 million.

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Where will the Supportive Housing Solutions Fund Make Investments?

The Solutions fund will focus on underserved markets throughout the country, with few geographic restrictions. With a focus on bringing supportive housing solutions to the most vulnerable, the Solutions Fund will look to make investments in high-need areas.

The first investment of the Solutions Fund is Homes for Heroes, a 44-supportive housing development in Gary, Indiana. Gary is an area that has been suffering economically after the closing of local manufacturing plants. Homes for Heroes is located in a redevelopment area in an effort to spur development and the local economy.

How is the Solutions Fund Unique?

The Solutions Fund creates a unique opportunity for communities interested in creating specialized acquisition and predevelopment funds to advance a pipeline of supportive housing projects.  Rather than create an entirely new financing facility, given the time and expense that requires, state and local governments have the option to make use of the proven structure of the Solutions Fund which is already in place.  This option requires an investment of a portion of their funds within one of the subordinate funding tiers of the Solutions Fund, thereby leveraging a portion of the overall fund which can use their parameters to focus on their locality’s specific housing goals.  CSH can also provide technical assistance to the pipeline to ensure that projects receiving financing are the best projects and will qualify for permanent financing.  If needed, other originating lenders could lend from the new pool to add further capacity.

Partners in the Supportive Housing Solutions Fund

solutions_fund_investor_logosWant to learn more about the Supportive Housing Solutions Fund?

Want to invest in the fund? Read more here.
Read our Pipeline Blog about the launch of the Solutions Fund
Read our Press Release
Contact loans@csh.org to connect with one of our loan officers

 

 

 

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