The MacArthur Foundation is investing $150 million to preserve and improve affordable rental homes across the U.S. A list of all funding recipients through the end of 2007 follows.
Through our Window of Opportunity initiative MacArthur supports policy analysis, data collection and expert assistance to encourage investment in rental housing and sound policies at federal, state and local levels. We also fund mission-driven housing developers, specialized financial intermediaries, and model preservation programs in New York City and Cook County, Illinois.
In November 2007, the Foundation announced new awards to help leading states and cities implement innovative preservation initiatives. Up to 10 recipients will be selected in 2008 for multi-year awards totaling $35 million. The Foundation expects its combined Window of Opportunity investments to directly help preserve and improve at least 300,000 affordable rental homes nationwide. More broadly, our goal is to stimulate lasting housing policy reforms and new development and lending practices that:
- Make it easier, faster and more cost-effective for affordable rental property owners to retain, preserve and renew the existing stock;
- Reverse the loss of existing, affordable rental homes by providing resources and regulatory incentives to preserve at least 1 million units over the decade ahead.
The John D. and Catherine T. MacArthur Foundation is a private, independent grantmaking institution helping to build a more just and sustainable world. Through the support it provides, the Foundation fosters the development of knowledge, nurtures individual creativity, strengthens institutions, helps improve public policy, and provides information to the public, primarily through support for public interest media. With assets of more than $6.4 billion, the Foundation makes approximately $260 million in grants annually.
The Window of Opportunity housing preservation initiative is part of MacArthur’s larger program focused on stable, affordable housing with a special emphasis on rental housing. The Foundation welcomes inquiries about this work and encourages interested parties to contact recipients of its support and other housing leaders.
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