Commitment to Action

Generating Real Opportunities for Work Transforming Housing

Commitment by

National Community Reinvestment Coalition

In 2012, the National Community Reinvestment Coalition (NCRC), and its principal partners Chicanos Por La Causa and the AFL-CIO Building and Construction Trades Department, committed to returning at least 4,100 units of distressed single-family housing to productive use while creating 5,000 jobs for local residents in the next four years. The program combines the best of existing housing and workforce development practices with cross-sector partnerships to build a $328 million investment fund that will support distressed property acquisition and rehabilitation. In addition to stabilizing neighborhoods by rehabbing distressed properties in seven states, this project will implement a nationally acclaimed pre-apprenticeship curriculum to train and place local residents in construction related jobs and union apprenticeships, with a target of training and placing at least 200 women. Finally NCRC will assemble leading financing advisors to create an investment vehicle and revolving loan fund for property acquisition and renovation.

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Overview
Summary

Commitment

Generating Real Opportunities for Work Transforming Housing

Launched

2012

Est. Duration

10 years

Estimated Total Value

$50,000,000

Region

Northern America

Countries

United States

Commitment by

National Community Reinvestment Coalition

Partner(s) of the Commitment Maker(s)

Community Capital Management, National Association for Latino Community Asset Builders, National Association of Real Estate Brokers, Henry G. Cisneros, Dave Stevens, Asian Real Estate Association of America (AREAA), Eugene A. Ludwig, Jerry Hultin, Key Property Services, Center Creek Capital, Chicanos Por La Causa, Inc., National Association of Hispanic Real Estate Professionals