Create 3,000 sustainable housing units in Chicago through 2019
There is an affordable housing shortage across America. Our goal is to creatively build a portfolio of units that working class Americans can live in and thrive. This portfolio will also make it a priority to serve the existing residents in these communities by keeping prices down and also providing increased access to jobs through using local labor.
- There is a shortage of 7.8 million affordable housing units in America
- Illinois has the country’s 4th worst affordable housing shortage (-324,178 units)
- Chicago has a 264,000 affordable housing unit deficit
Lower building carbon emissions & individual unit utility bills by 33%
Buildings are the largest contributor to CO2 emissions and this is especially true in outdated structures. These buildings' show their inefficiencies by the high utility costs passed on to residents. We want to remove this additional burden by updating existing structures and also new construction of environmentally conscious multi-unit buildings. Removing the additional burden of high energy costs that are passed onto the tenants, while also making a positive impact on the environment.
- Buildings account for 39% of the US total CO2 emissions
- Buildings consume 70% of the electricity load in the US
- A household is considered energy burdened when the energy costs exceed 6% of income. However, the average Illinois low-income family spend 13% of their income on energy.
Create the first investment fund to prioritize both community solar & sustainable affordable housing.
Our strategy is to invest and create community solar and energy efficient affordable housing. Using the fund as proof of concept that competitive returns can be created by tying affordable housing to community solar projects. This is an ideal fit for investors and institutions looking to invest in Social Impact, Environmental Social Governance (ESG), Sustainable and Responsible (SRI), Real Estate, First time fund managers, or looking to add a African American fund manager to their fund management portfolio.
- $8.7 Trillion in assets invested in ESG funds in America
- In 2016, 37% of institutional investors incorporated ESG factors into decision making
- $2.15 Trillion in assets invested in funds with priorities around Carbon emissions and climate change