Workforce Housing Social Impact Funds

In Fall 2020, Madison Development Corporation, along with the United Way and local Madison area Employers -financial institutions, health care systems & foundations, launched a Fund to fill gaps in affordable workforce housing projects in WI. The Dane Workforce Housing Fund (DWHF) raised over $11 million and helped create 747 new units, with a subsequent Fund II raising $13 million which has 230 units under construction. The Atlanta Affordable Housing Fund (AAHF), launched in early 2020, raised $15 million from local real estate leaders, which helped create over 800 affordable homes. The AAHF is now housed at the Community Foundation, which helped them attract an additional $150 million from diverse investors - financial institutions, foundations and individuals, to help create more affordable housing projects in Atlanta's core counties. This session will cover the Fund structures, the impact on their regions, and why investors stepped up.