Affordable housing can take many forms, and a myriad of financing sources is necessary to create the spectrum of housing options needed in our community. Traditional philanthropic grantmaking can only go so far when it comes to funding. That’s why Austin Community Foundation makes impact investments in the form of low-interest rate loans to increase the capacity of housing-focused organizations that otherwise would have to seek more expensive sources and delay projects that are desperately needed today.
Our impact investment in the Texas State Affordable Housing Corporation (TSAHC), for example, helps nonprofits like Project Transitions create affordable, supportive housing in Austin for people living with HIV.
Project Transitions began in 1988 as a small hospice house, but since then has expanded to build 40 units of supportive housing at Roosevelt Gardens. Their newest project, Burnet Place, will create 61 homes for people with HIV who are currently unhoused or living in unstable housing conditions. Onsite supportive services at Burnet Place will include both a clinic as well as vocational training, providing much needed resources for residents to build stability.
