Dearfield Fund for Black Wealth - Gates Family Foundation
Project Description

Dearfield Fund for Black Wealth is a market-based solution to addressing the racial wealth gap. The Fund’s goal is to accelerate homeownership among Black families in the Denver metro area through an innovative down-payment assistance program, structured in the form of shared equity. The Fund will provide from $40,000 to $60,000 in down-payment support (or about 10 percent of the value of the home) to Black homebuyers seeking to purchase their first home.

The Fund is set up as a concessionary private equity fund, with expected returns between 1-3% over the 10-year period.

Amount $1,000,000
Year Awarded 2021
Support Type Program-Related Investment
Strategic Priorities

Community Development > Community Planning

Areas Served

Denver > Denver

Term 10 years