expanding investment in housing and real estate
LISC’s most important continuing responsibility is to provide capital investment for an increasingly diverse array of real estate development. An essential characteristic of this investment is our ability to attract other capital and forge new relationships. Leveraging our dollars and accelerating the pace of physical change.
Sustainable Communities challenges LISC to expand the critical real estate development capital that has already catalyzed so much change in Central Virginia. LISC will seek opportunities where multiple real estate investments in a single geographic area reinforce each other to deliver across the spectrum of community needs.
The foundation of a community is in the quality of its homes, shops and community spaces. The development of affordable housing, child care facilities, commercial districts and community spaces forges neighborhoods that meet all the needs of their residents.
This goal also challenges us to continue our support for local, statewide and federal policy initiatives to provide increased community resources.
An example of how we are undertaking this goal:
Virginia LISC provided over $1.5 million of loan capital and $4 million of equity to Virginia Support Housing and their Cloverleaf Apartment project in Virginia Beach that serves 60 formerly homeless adults by providing affordable housing coupled with supportive services.
