A brand new Partnership for the Bay’s Future is ready to address the the challenges the Bay Area is currently facing with affordable housing, transportation, and economic opportunity. The Local Initiative Support Corporation (LISC) will manage a $500 million investment fund, one of the largest in the nation, that will work on preserving and producing affordable housing. The partnership includes the San Francisco Foundation, the Chan Zuckerberg Initiative, the Ford Foundation, LISC, Facebook, Genentech, the William and Flora Hewlett Foundation, the David and Lucile Packard Foundation and Silicon Valley Community Foundation.
The Investment Fund is designed to be nimble―so that it can address a wide range of current housing needs and evolve as the market changes. The fund will invest in everything from preserving existing affordable homes to building more housing for people who are struggling to keep up with high housing costs. It will also help middle-income workers with housing costs, while accelerating the process of getting people experiencing homelessness into homes.
The flexibility of this capital will allow the Partnership to operate outside traditional system constraints and offer new financing products not currently available. The fund will also demonstrate the viability of creative, community-based solutions that can be shared, replicated, and scaled within the Bay Area and beyond.
Learn more about The Bays Future by visiting it’s website at: baysfuture.org