Click here to view Enterprise-Equitable Path Forward, New York Grants as a PDF.
Equitable Path Forward: New York Grants
MAY 4, 2021
Property management and development firms owned by Black, Indigenous and people of color (BIPOC) and other historically marginalized groups play an integral part in the property management and development of affordable housing in New York State. Yet, they continue to face systemic barriers that impede their growth and sustainability.
For decades, the affordable housing, community development and commercial real estate sectors have been lucrative for the mostly white-led organizations that control them, even as they serve to create affordable rental homes primarily in neighborhoods of color. This inequity resulting from decades of discrimination and continued disinvestment calls for a solution to support for-profit development and/or management firms, owned by BIPOC or other historically marginalized groups, in the affordable housing industry looking to grow their pipelines and strengthen operations. This is especially critical given the tighter margins to developing and operating housing as a result of Covid-19.
To help address racial disparities in capital access within the affordable housing industry, Enterprise is pleased to launch Equitable Path Forward: New York Grants, a program designed to help for-profit NYS Affordable Housing Development and Management firms owned by BIPOC or other historically marginalized groups accelerate their development pipeline and fortify their development or property management infrastructure.
Through this initiative, Enterprise will provide grants of up to $450,000 to twelve management and/or development firms, owned by BIPOC or other historically marginalized groups, that focus on affordable housing in New York State.
The application deadline is May 28th, 2021, at 11:59 PM EST. A pre-application conference will be held May 13th, 2021, at 2:00 PM EST. To register, please click here.
Please contact Camila Fernandez at firstname.lastname@example.org with any questions.
As the Covid-19 pandemic continues, Enterprise New York is closely following the local, state and federal government’s policy response and guidance for affordable housing.
- Housing Provider Resources: We are providing regular updates on resources for housing providers and residents on our website and on social media. View a list of Enterprise’s partner trainings and recorded webinars here.
Resilient Futures: View Enterprise’s Covid-19 resource hub here.