The MacArthur-supported Housing Partnership Equity Trust has expanded its portfolio by purchasing a multifamily property in California, drawing on $100 million it raised from institutional investors, foundations and non-profit members with the aim to preserve affordable rental housing for low-income residents. The Housing Partnership Network, which sponsors and operates the Equity Trust, recently announced plans at the Clinton Global Initiative America meeting that it would raise an additional $500 million over two years to acquire, renovate, and operate more than 7,000 affordable housing units around the country.

Housing, How Housing Matters, Community Development, Housing, United States