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.
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.