Colorado Housing Accelerator Initiative (CHAI) Fund - Gates Family Foundation
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Project Description

Weave Social Finance, LLC, (Weave) is an experienced consultant to the affordable housing and impact investing communities in Colorado. Weave is launching the Colorado Housing Accelerator Initiative (CHAI) to provide equity financing for affordable housing throughout the state.

The Fund will invest in the acquisition, preservation, and development of affordable housing across Colorado in alignment with its overarching objectives to (1) provide quality housing that is affordable to middle income households and underserved local workers, and (2) provide risk-adjusted financial returns to investors through a diversified portfolio of real estate investments statewide. To achieve these objectives, the Fund will target gaps in the traditional affordable housing investment ecosystem and fund the acquisition of land and/or existing improvements in Colorado for the preservation and development of rental or for-sale affordable housing.

CHAI aims to deliver cost savings, housing stability, and long-term affordability to residents. It will also be the first fund in Colorado to pilot a tenant equity vehicle (TEV). The TEV will allow residents of CHAI-funded properties to share in the financial returns of the Fund.

Amount $1,000,000
Year Awarded 2022
Support Type Program-Related Investment
Strategic Priorities

Community Development

Areas Served

* Statewide

Website https://chaifunds.com/
Term 10 years
Payment Schedule
2022$550,000