NALCAB Invests in Mixed-Income Housing in San Antonio
SAN ANTONIO, TX — NALCAB – National Association for Latino Community Asset Builders is proud to announce a $2.5 million investment in mixed-income housing in San Antonio through the NALCAB Catalyst Fund I, LLC, (“the Catalyst Fund”) a social investment fund designed to produce and preserve mixed-income housing while producing a financial return to investors.
NALCAB developed the Catalyst Fund with support from the JP Morgan Chase Foundation and the Ford Foundation, with additional support from the Meadows Foundation of Dallas. The Catalyst Fund was established in 2016 and has invested more than $4 million to date in housing projects in three markets. The NALCAB Catalyst Fund will continue to raise capital in 2018.
The Catalyst Fund invests in single family and small multifamily housing (both rentals and units for sale) that are consistent with the character and scale of neighborhoods. All of the Catalyst Fund’s investments are located in appreciating neighborhoods that provide residents with access to employment, quality education and health care resources. Extensive research has shown that stable, quality housing is critical for families as they pursue economic mobility, academic advancement and healthy living.
NALCAB’s Executive Director, Noel Poyo stated, “Quality housing for working class families in San Antonio is a good investment. It also changes lives.”
NALCAB Catalyst Fund will break ground by January on a 45-unit single family subdivision in the Northside School District of San Antonio.
“Recent public sector leadership on housing issues in San Antonio is very encouraging and we are considering future investments in San Antonio.” Poyo said.
For media inquiries, please contact Ileana Gonzalez at (210) 455-4385