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Community Foundation distributes $1.1 million for affordable housing - Jacksonville Business Journal

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Community Foundation distributes $1.1 million for affordable housing

The Community Foundation for Northeast Florida announced an investment of $1.1 million to impact the supply of affordable housing in Northeast Florida and increase access to capital for marginalized communities.

James Coggin, The Community Foundation senior program director, said the purpose is to help the development corporations realize community goals like home ownership to improve quality of life in their neighborhoods by expanding access to affordable housing. "In Northeast Florida, we're missing a little over 35,000 units from our supply," Coggin said."The main piece with our impact investments is more action, more activity to realize those goals."

"This is going to reestablish the flow of capital around construction financing and the acquisition and early-stage development processes," Coggin said.

 

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