Front Porch Investments Seeks to Fill Affordable Housing Gap
A new initiative is seeking to fill a 100,000-unit gap that was identified in a recent study on housing affordability in Omaha.
Front Porch Investments is using a collaborative model to bring funders together with community stakeholders, impacted residents, housing-supportive nonprofits and developers to meet the city’s urgent housing needs, according to a news release.
“We envision a community where all of us have access to safe, high-quality affordable housing across the city,” said Meridith Dillon, executive director at FPI. “That’s the future we want for Omaha, and we’re ready to make bold, innovative moves to get there.”
The organization will launch impact-driven funds to provide a simplified investment model for funders, and a one-stop shop for developers and nonprofits working toward filling the housing gap. Funding will prioritize the preservation and development of affordable housing, homelessness prevention, and the creation of a “greenlining” initiative to promote homeownership in areas of historical disinvestment.
Support will be available via a rolling application process in the form of gap financing, capacity-building grants, affordable capital, and other resources.
“We are ready to serve as a convener and coordinator of the many excellent organizations that are advancing housing stability in Omaha. It’s going to take an ‘all-in’ approach to address the urgent need we are seeing across the metro area,” said FPI Director of Operations Naomi Hattaway.
FPI said it will prioritize equity and inclusion in housing by seeking the input of stakeholders who have been historically excluded from these processes in the past. An advisory board will center these voices in grantmaking decisions so funded projects will meet community needs.
FPI is funding through public, private and corporate entities and serves developers, community development organizations, community development financial institutions, housing supportive nonprofits, home owners, home buyers, renters and the community, the release states.
Front Porch Investments is housed at the Omaha Community Foundation, 1120 S. 101st St., Suite 320, Omaha, NE 68124.
For more information or to donate, visit omahafoundation.org. FPI is currently seeking investment partners and will be announcing more information on funding opportunities in the coming months.
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