After opening in 2019, LISC Charlotte’s work kicked off with a focus on three key efforts: launching the Charlotte Housing Opportunity Investment Fund, providing support to partners throughout the city and bringing our expertise to the Historic West End neighborhood.
LISC is working with public- and private-sector partners to launch the Charlotte Housing Opportunity Investment Fund, a $50+ million fund to finance mixed-income housing for families making 30-120 percent of the area median income. This blended fund is customized to the particulars of the Charlotte market, combining a below-market-return pool of capital with conventional bank debt to finance approximately 1,500 to 2,000 homes.
The current funders are: Foundation for the Carolinas, Wells Fargo, Barings, Bank of America and Ally Bank.
This is a pivotal time for the city of Charlotte. Rapid economic growth in the southeastern United States is creating a stronger and more diverse economy, accelerating job growth and energizing much of the city’s real estate environment. But, the benefits aren’t reaching all of Charlotte’s communities, as long-standing barriers of race and class hold. LISC is working with local partners in Charlotte to ensure development efforts are inclusive and equitable, developing an assertive agenda focused on economic mobility that gives all the city’s residents a better chance to thrive.
LISC will focus on the areas listed below, providing support to partners to drive progress:
In the West End, LISC is building on the tremendous work of some of Charlotte’s most committed and creative supporters to spur economic opportunity. Organizations like Historic West End Partners, Charlotte City Center Partners and the Knight Foundation have laid a solid foundation for growth, leading an inclusive neighborhood planning process that builds on the strengths of this vibrant community.
West End residents have made their priorities clear: equitable development and economic mobility. LISC is supporting them with capital and technical assistance focused on the broad range of “placemaking”—from affordable housing and community safety to small business development and jobs.
Our new Charlotte team is focused on creative ways to assemble funding—leveraging LISC’s national and local relationships—so we can help move transformative projects to scale and ensure West End residents have the chance to benefit from Charlotte’s rapid growth.