Our Impact
Capital with a purpose.
Impact with intention.
Connecting capital to community initiatives and driving sustainable growth nationwide.
$887M
invested
$7.7B
total development
20K
homes & apartments
$598M
Assets Under Management
Impact Stories and Highlights:
$887M invested
Carrying Family Legacy Forward Through Equity in Development
The Clark on 54th is rooted in legacy. Long owned by Lacretia Clark, the property became a pivotal decision point for her family after her passing—one that often leads to a forced sale. Instead, they chose a different path: preserving ownership, building equity, and investing back into the Crenshaw community.
Today, the development will bring 48 mixed-income rental homes—including 10 affordable Housing Choice Voucher Program (HCVP) units—along with 2,123 square feet of retail and new parking to the heart of the Crenshaw corridor in Los Angeles. Designed to honor the neighborhood’s cultural legacy, the project supports inclusive economic growth and long-term community stability.
Fueled by a $12.25M senior loan from the National Strategic Investments Impact Fund (NSIIF) and a $500K recoverable grant from LISC LA, the project is led by Praxis Development Group and Renaissance LLC—combining deep development expertise with a commitment to growing local ownership and capacity.
Aligned with the Destination Crenshaw initiative, The Clark on 54th is positioned to strengthen the corridor’s cultural and economic vitality while expanding pathways to opportunity for local residents.
Learn more about The Clark on 54th here.
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"My mom had a dream of one day turning this building into a development where she could house people from the neighborhood. Being able to carry that forward means everything."
Jamial Clark, CEO, Renaissance Group
THE VIEW UP CLOSE:
$7.7B total development
Since 2019, LFM has directed investments of $887 million, and our investments were leveraged to support $7.7B in total development. Maximizing financial impact is at the core of our mission. We allocate resources strategically to ensure meaningful investments drive sustainable change. By partnering with cities, foundations, corporations, investors and partners, we can do even more. We share stories of our investments and impact below:
Development Highlights
Parkside Homes.
Through the Cleveland Housing Investment Fund (CHIF), Parkside is transforming vacant land bank lots into a 55-home, scattered-site lease-purchase development across Buckeye, Glenville, and Hough, serving families at or below 60% AMI. Supported by CHIF, the project will deliver 49 three-bedroom, two-story homes and 6 single-story accessible homes. Through CHN Housing Partners’ nationally recognized Lease Purchase Program, residents are positioned for homeownership, advancing long-term wealth-building and neighborhood stability with wraparound services like financial coaching and youth programming.
Learn more here.
Jericho Village.
With support from the National Strategic Investments Impact Fund (NSIIF), Jericho Village is a $9.2 million, 38‑unit ground‑up development in Wylie, Texas, providing permanent supportive housing for women and children transitioning out of homelessness. Led by Agape Resource & Assistance Center, the project delivers 36 income-restricted units for households earning between 30% and 80% of AMI, including deeply affordable homes supported by HUD vouchers. Backed by NSIIF and strong philanthropic partners, Jericho Village pairs stable housing with trauma-informed services—such as childcare, transportation, and career support—to promote long-term stability and economic mobility.
Learn more here.
Barton South.
Through an investment from the Charlotte Housing Opportunity Investment Fund (CHOIF II), Barton South will deliver 140 units of high-quality affordable housing in Charlotte’s Montclaire South neighborhood, serving households earning between 30% and 80% of AMI. The $48 million development, led by Blue Ridge Atlantic, will feature a five-story midrise building with family-oriented unit types, including three-bedroom apartments, and 28 units supported by project-based Section 8 subsidies. Designed to provide long-term stability, the property will offer on-site management, resident-focused amenities, and convenient access to major transportation corridors, retail, and the Lynx light rail system—advancing equitable housing opportunities in a Qualified Census Tract.
Learn more here.
THE VIEW UP CLOSE:
20,693 homes & apartments
In 2025, LFM and LISC Cleveland officially launched the Cleveland Housing Investment Fund (CHIF) to expand affordable housing across the city. The fund was seeded with an $18 million grant from the City of Cleveland and a $20 million anchor investment from KeyBank, with a goal to raise $100 million from mission-aligned partners. CHIF aims to create between 2,500 and 3,000 affordable homes, including at least 100 for-sale units.
Cleveland experienced the fastest year-over-year rent increase among the 50 largest U.S. metro areas in 2024, with average rents up 10.6 percent, which has increased pressure on low-, moderate-, and middle-income households. CHIF is designed to bring additional financing tools to support the construction and preservation of affordable homes throughout the city.
Managed by LFM, CHIF provides flexible, gap‑closing capital for mixed-income rental housing, preservation projects, and for‑sale homes, with typical investments ranging from $1 million to $5 million. Priority areas include middle market and opportunity neighborhoods, with consideration for high‑impact projects elsewhere. CHIF also offers technical assistance for emerging and community-based developers who face barriers to accessing capital.
Built on lessons from successful funds in Dallas, Charlotte, and Detroit, CHIF is tailored to Cleveland’s market and aims to catalyze development in neighborhoods that have long faced disinvestment. Overall, the fund represents a collaborative public-private effort to create and preserve affordable homes and support long‑term housing stability for Cleveland residents.
In 2025, CHIF celebrated a major year of impact with the closing of three significant affordable housing investments: Walton Apartments, Parkside Homes, and Depot on Detroit. Walton Apartments, a newly built 52‑unit community for older adults in Cleveland’s La Villa Hispana, advances aging‑in‑place, cultural vitality, and long‑term affordability, supported by CHIF’s $2.0 million construction‑to‑permanent loan. Parkside Homes brought another milestone—a 55‑unit scattered‑site lease‑purchase development across Buckeye, Glenville, and Hough, designed to create pathways to homeownership for families earning up to 60% of AMI; CHIF contributed a $2 million permanent loan at completion.
Rounding out the year, CHIF closed Depot on Detroit, a 60‑unit affordable housing community in the Cudell neighborhood that strengthens access to opportunity along the Detroit Avenue transit corridor. Backed by a $5.76 million CHIF construction‑to‑permanent loan, Depot on Detroit represents the Fund’s third closing and reinforces its momentum in expanding high-quality, deeply affordable housing across the region.
Altogether, these three investments bring CHIF’s total commitments to $9.76 million, reflecting a growing pipeline and a deepening commitment to equitable neighborhood revitalization.
Fifth Third Bank joined KeyBank and the City of Cleveland, bringing the fund to $43 million in capital. This expansion allows for greater investment in affordable housing developments and continues the momentum of partners joining us to advance this work.
Learn more about CHIF here.
Source: www.liscfundmanagement.org
More About Our Parent: LISC in 2025
LFM is a subsidiary of Local Initiatives Support Corporation (LISC). LISC’s impact is scaled by our family of affiliates, which have attracted tens of billions of dollars to communities that would not otherwise have the capital they need to build and grow. They have pioneered new approaches, hand in hand with local partners, that expand local economies, helping support a good quality of life for residents. Their products and services expand the housing and economic development solutions we are able to deliver to the communities we serve.
Local Initiatives Support Corporation (LISC) in 2025
LISC’s $3.1 billion in direct investments leveraged an additional $8.6 billion for community projects—filling funding gaps, expanding impact, and attracting private investment. Through HUD-funded capacity-building grants, we helped local organizations develop or preserve 40,000+ housing units and secured $11 billion in new investments from 2020 to 2025.
$3.1B
invested
$8.6B
leveraged
SINCE 1979
$38B
invested
$102B
leveraged
552K
affordable homes & apartments
88M
sq. ft. of commercial & community space
LISC's 5-Year Growth
