BOSTON: The concept of impact investing has been around for several years, although it is still a largely underutilized tool in advancing social and economic benefits.
Cost is always a factor when evaluating the use of operating funds and capital in affordable multifamily housing as there are limited resources that must be deployed in the most efficient manner possible. A separate source of funding that removes the hurdle which will allow for greater access to the types of services and programming that help residents achieve self-sustainability would be of great benefit. Providing this kind of opportunity is enough reason alone to pursue this as a viable outlet for philanthropic investors—but is there enough momentum to make it last?
The short answer is yes…