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

Learn More About the HEAF Program

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.

2024 2022

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

Quick Links

We’re here to answer your questions.

heaf@capitalimpact.org

Advantages of Working with Capital Impact Partners

As a mission-driven organization, we are committed to supporting projects that create social and economic justice.

With our headquarters in Arlington, VA, we have invested more than $3 billion nationally to increase access to quality multifamily affordable and workforce housing, health care facilities, healthy food businesses, and education programs
We are familiar with local market conditions across the Washington Metropolitan region and have worked with developers in D.C., MD, & VA
Through our EDI program, we have deepened our commitment to fostering an environment where developers can advance
Our on-the-ground team and local partnerships allow us to leverage our networks and resources for broader impact.

Learn More About the HEAF Program

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