News

U.S. Bancorp Impact Finance continues to support the growth of emerging real estate developers with its newest round of grant funding through the Access Capital: Collaborating to Invest in Emerging Developers program. This year, $400,000 in grants is being directed to five nonprofit organizations that deliver technical assistance and training programs designed to help emerging developers build capacity, gain expertise and prepare for future capital investment.

“We’re proud to support capacity-building programs that help equip emerging developers with the tools, skills and connections they need to succeed,” said Torrence Moore, head of Access Capital at U.S. Bank. “With our Access Capital grants, we’re not just supporting individual developers – we’re helping strengthen the affordable housing ecosystem for the next generation.”

The $80,000 grants will support:

• African Economic Development Solutions in St. Paul, Minnesota, to develop a culturally relevant technical assistance program for first-time affordable housing developers.
• Community Capital New York in Elmsford, New York, to deliver pre- and post-loan technical assistance to 20 emerging, undercapitalized affordable housing developers.
• Florida Housing Coalition in Tallahassee, Florida, to enhance its Lender Readiness Certification Program with training and advisory resources to help small-scale developers adopt resilient, sustainable design and reduce housing costs.
• National Institute of Minority Economic Development in Durham, North Carolina, with its Capital Ready Catalyst™ program that equips developers with tools, relationships and expertise to access housing and economic development tax credit programs.
• The DNA Fund NFP, in partnership with Diversified Community Impact and C3 Impact Fund, to launch a course for emerging developers to access advanced training, one-on-one assistance and capital formation support.

Each organization was selected through a competitive application process for its proven ability to deliver meaningful technical assistance and training programs that help emerging developers succeed, Moore said.

This marks the fifth year of the Access Capital program, which has awarded a total of $1.61 million to 24 organizations since 2021. The Access Capital grant is part of U.S. Bank Access Commitment®, a group of initiatives dedicated to helping close the wealth gap.

Impact Finance focus on affordable housing

U.S. Bancorp Impact Finance is a nationally known, leading investor and lender in the new construction and renovation of affordable rental housing. For more than three decades, its financing has helped increase the availability of affordable housing and build a foundation of financial stability for individuals and families nationwide.

Impact Finance actively supports emerging real estate developers to help increase affordable housing development, expand community impact and close the wealth gap. In addition to Access Capital grants to capacity-building nonprofits, Impact Finance expands access to capital for emerging developers through loans and tax equity investments.  

Impact Finance also lends to community development financial institutions, which can in turn fund site acquisition, pre-development, construction and permanent financing to emerging developers.

“By investing in organizations that support emerging developers, U.S. Bancorp Impact Finance is helping build a more inclusive future for affordable housing nationwide,” Moore said.