Supporting Community-rooted Developers to Increase Affordable Housing
The ability for smaller, community-rooted developers to help shape and increase access to affordable housing in rapidly developing cities remains hampered by the fact these individuals remain underrepresented in the real estate development industry. Factors contributing to this disparity are grouped into four broad categories:
- Market and ecosystem factors
- Lack of connections
- Lack of capital
- Lack of capacity
Program Overview
In an effort to support developers to learn the skills and build the networks necessary to succeed, we are partnering with Amazon to launch a fellowship in the Washington, D.C. Metropolitan area. This initiative support our organizations’ shared goals of facilitating new opportunities for real estate developers while also increasing affordable and workforce housing across the region. With a focus on individuals who are dedicated to real estate development as a career path, as well as an interest in affordable housing, the fellowship includes:
- Advanced real estate training with a focus on affordable housing
- Connections to local mentors
- The opportunity to apply for grant capital to support project development
The HEAF program builds on Capital Impact Partners’ successful EDI training program for emerging real estate developers across the country.
Interested in participating in HEAF? Fill out our inquiry form to receive updates on our upcoming HEAF cohorts. Fill out form
Eligibility Criteria
HEAF is not an introductory program. Candidates are expected to have real estate development experience and are selected based on the following eligibility criteria guidelines:
- Demonstrated need for specialized real estate, financial, technical, and enterprise management training to scale their businesses
- Demonstrated barriers to accessing capital, including limitations to balance sheet capacity, and the resources required to advance affordable housing projects that benefit their communities
- Full-time developer as Principal or Co-principal of a real estate development firm
- At least 1 affordable housing development project completed or underway
- Affordable residential development activities focused on the metropolitan District of Columbia, Maryland, and Virginia region
- Able to illustrate how barriers to accessing critical industry networks have restricted or limited accelerated personal and professional growth
Impact to Date
Through the monthly learning series, network connections, and technical assistance, the fellowship has facilitated the growth of several real estate development enterprises. Moreover, the ability to access project grants has led to an increase in the production and availability of affordable homes for families and working professionals across the greater Washington, D.C. Metropolitan region.
The impact of HEAF as of January 1, 2024 includes:
- $4 million in grants provided directly to developers to offset the cost of predevelopment projects in the DMV
- $7 million in loans closed with Capital Impact Partners between 2022 – 2023
Meet Our HEAF Fellows
HEAF cohorts represent a group of individuals with a range of backgrounds and experience. We invite you to learn more about them by downloading the fact sheets below.
Our Partner
Launched in 2021, this fellowship is part of the $2 billion Amazon Housing Equity Fund, a commitment to create and preserve 20,000 affordable homes
We’re here to answer your questions.
Advantages of Working with Capital Impact Partners
More About the HEAF Program
In this video, president and CEO Ellis Carr talks about Momentus Capital’s efforts to utilize mission-driven financing, social innovation programs, capacity building, and impact investing, to support community and economic development.
HEAF accelerates opportunities for community-rooted real estate developers to gain knowledge, scale their businesses, and build their networks while also increasing affordable and workforce housing across the region.
A New Vision for D.C. Neighborhoods
When two EDI graduates had a vision for revitalizing a Washington, D.C. neighborhood and creating affordable housing, they turned to Capital Impact Partners to help jumpstart their project.
