Citi Foundation Awards $1 Million Grant to Center for Affordable Housing Lending to Expand Housing Solutions
Grant Launches New Housing Supply Research & Fellowship Program
WASHINGTON, D.C. – Today, the Center for Affordable Housing Lending (“the Center”) announced a $1 million grant from the Citi Foundation. The Center is the nonprofit, 501(c)(3) policy research partner to the National Association of Affordable Housing Lenders (NAAHL).
The housing crisis has reached a critical point. Costs are rising, supply is falling short, and families across the country are feeling the squeeze. The Citi Foundation’s investment will help the Center develop bold, workable policy solutions grounded in research and built hand-in-hand with practitioners and policymakers through a new Housing Supply Research & Fellowship Program. The Center will be scaling its research and engagements also thanks to support from the Robert Wood Johnson Foundation, The Kresge Foundation, the MacArthur Foundation, and the PNC Foundation.
“Now more than ever, it is critical to innovate and implement bold ideas to meet the pressing housing needs of our communities,” said Sarah Brundage, President and CEO of NAAHL and the Center. “Thanks to the Citi Foundation and our other funders’ generous support, we are poised to not only enhance our existing initiatives but think and act more boldly to unlock investments in affordable housing.”
Through the Housing Supply Research & Fellowship Program, the Center will tackle challenges that are top of mind for policymakers and the housing finance community, including the rising cost of insurance, scaling private investment in affordable housing and community development, and growing the capacity of CDFIs to meet the need in underserved communities.
“For families across the U.S., a safe, stable and affordable home is a cornerstone of their economic progress and well-being. As we address the current affordable housing challenge, we need solutions that are scalable and create tangible impact for low-income communities,” said Brandee McHale, Head of Community Investing and Development at Citi and President of the Citi Foundation. “To that end, the Citi Foundation is supporting the Center to help identify such solutions. With its multi-sector approach and deep expertise in housing policy, the Center is well-positioned to develop and inform innovative and actionable strategies.”
Read the press release from the Citi Foundation here.
About the Center for Affordable Housing Lending
The Center for Affordable Housing Lending is a nonprofit policy research organization dedicated to researching and developing solutions to drive impact in affordable housing and expand economic opportunity. The Center serves as the 501(c)(3) research partner to NAAHL. Learn more at www.centerforaffordablehousinglending.org.