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The Charlotte Housing Opportunity Investment Fund, a philanthropic match to help stretch public investment in affordable housing, is raising another $50 million. The first round launched in 2018 and was exhausted last year. The Charlotte Observer

Another $50M for Charlotte affordable housing: Private fundraising begins again

By Lauren Lindstrom, The Charlotte Observer

 

Charlotte’s affordable housing efforts can expect another big boost, as the philanthropic fund first launched in 2018 is seeking another $50 million.

Ralphine Caldwell, executive director of LISC Charlotte, confirmed the nonprofit is raising another $50 million for the Charlotte Housing Opportunity Investment Fund, known as CHOIF.

“We know that there is a significant need and there will continue to be a need for affordable housing in Charlotte,” Caldwell said. “We believe this is one of the innovative ways to be able to provide more units on the ground.”

The private fund raised $53 million in recent years, a match to the $50 million housing bond approved by Charlotte voters in 2018.

CHOIF was hailed as a major philanthropic commitment to affordable housing that, when used in conjunction with the Trust Fund, would help public money go further.

Read more at The Charlotte Observer

This story is part of I Can’t Afford to Live Here, a collaborative reporting project focused on solutions to the affordable housing crisis in Charlotte.

The Charlotte Journalism Collaborative is supported by the Local Media Project, an initiative launched by the Solutions Journalism Network with support from the Knight Foundation to strengthen and reinvigorate local media ecosystems.

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About The Project

Solutions Journalism Network launched the Charlotte Journalism Collaborative in 2019, a partnership of six major media companies and other local institutions focusing on issues of major importance to the Charlotte region. The collaborative is supported by $150,000 from the John S. and James L. Knight Foundation, as part of its $300 million commitment to rebuild the future of local journalism, essential to a functioning democracy.

The Charlotte Journalism Collaborative (CJC) is modeled on the Solutions Journalism Network method of investigating and reporting news with a primary focus on solutions to community problems. “At a time when local journalism jobs are disappearing and trust in media has hit an all-time low, the Solutions Journalism Network has taken on the challenge by organizing collaborative journalism reporting projects that promote excellent reporting and civic dialogue. the model has the potential to be part of a new wave of great local reporting, which is vital to building strong communities,” said Karen Rundlet, Knight Foundation director for journalism.

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