LISC’s pioneering $100 million bond offering paves the way for more flexible investing in low-income places, says an article for the Institute for Sustainable Investing. The new asset class is a “game-changer” that has the potential to spur broad economic opportunity in under-invested communities, and the finance world is taking note.
In a blog post for Providence Business News, Jeanne Cola, director of LISC Rhode Island, stresses the role of calculated risk-taking when lending to promising community projects. It’s how LISC started—investing in people and places when no one else would—and it’s still paying off, as with the beautiful WaterFire arts center in Providence.
While the talk of this city might be major developments in downtown, the adjacent neighborhoods have their own inspiring story. On a recent tour led by LISC, local business and nonprofit leaders showed how investments up and down Martin Luther King Drive are benefitting residents and reviving communities.Read the Article
An article in ImpactAlpha features Morgan Stanley’s chief sustainability officer and LISC board member Audrey Choi describing the “tremendous growth opportunities” in social impact investment. LISC’s recent first-of-its-kind bond offering, underwritten by Morgan Stanley, is a prime example of how benefit to the community can benefit business, too.
Four years ago, Southwest Chicago suffered high rates of vacancy, blight and crime. But a determined group of neighborhood organizers and their partners, including LISC, have begun to turn the community around. Now there are 21 vacant buildings instead of 93, and crime has plummeted by 53 percent. A new $1 million pledge from LISC is helping take the work even further.