Forsyth Street

Check out this multifamily clean energy lending course from our friends at Community Sustainability Partners. Was happy to be a guest lecturer on this!

Forsyth Street is excited to announce that we closed on $76 million in capital for the Nashvile Catalyst Fund and made our first loan to an affordable housing project! Forsyth Street Asset Management is helping run the Nashville Catalyst Fund, a nonprofit loan fund designed to provide fast, flexible capital for mission-aligned developers to preserve and expand affordable housing in Nashville / Davidson County. The Fund was created through a partnership between the Metropolitan Government of Nashville and Davidson County and the Community Foundation of Middle Tennessee. The Fund recently closed on $76 million in capital invested by local government, a consortium of local banks led by First Horizon Bank and civic-minded institutions that include Vanderbilt University, Ryman Hospitality Properties and The Healing Trust. Recently, the Fund made its inaugural investment, providing a $450,000 loan to Gentry Investment Properties LLC to acquire and preserve a four-unit home in Madison as affordable housing. Vandale Gentry, principal, is a participant in Urban League of Middle Tennessee's Real Estate Developers Academy, which trains emerging affordable housing developers from minority backgrounds. A big and extensive thank you to everyone who contributed to this moment - Hal Cato, Mayor Freddie O'Connell, Bob Mendes, Angela Hubbard, Hannah Davis, Jim Gingrich, Bert Mathews, Edward Henley III, Mick Nelson, Carol Yochem, Stephen Sweeney, Drew Rodgers, Jay Bingham, Matt Rush, Samuel Jackson, Kristen Keely-Dinger, Nathan Green, Brett Sweet, Margaret Shute, Dana (Lee) Machles, Colin Reed, Jennifer Hutcheson, Mark Fioravanti, Scott Lynn, Trace Blankenship, Charles Robert Bone, Walker Entwistle and Stevie Chamberlain. https://lnkd.in/eKFKkQ9y

Forsyth Street is excited to have worked with?Austin Community Foundation?on Austin Habitat for Humanity’s largest homeownership project to date, the new construction of 126 affordable flats and townhomes. Check out ACF's press release below: ? Evan Seiler?and?Elliott Weissmann?lead our Asset Management work in Austin. ? https://lnkd.in/efMa63kK ?

Forsyth Street is proud to have served as the financial consultants for MDG Design & Construction and Ascendant Neighborhood Development on their East Harlem Las Raices project. The project successfully closed in November 2024, after nearly 6 years in the making. Financed by Webster Bank, alongside NYC Department of Housing Preservation & Development New Construction Loan Program (NCP) subsidy, and 9% LIHTC equity syndicated by Raymond James, this project will offer 78 units of much needed affordable housing across 4 buildings in the East Harlem neighborhood. Congratulations to the team!

As the financial consultant for Xenolith Partners, JASA, ELH Mgmt. LLC., and The Kretchmer Companies on their Casa Celina project, we are thrilled to see the development has been spotlighted in The New York Times! This feature highlights the impactful journey and innovation vision driven by a dedicated team focused on creating sustainable, affordable housing solutions that make a real difference in our community. Financing through the HDC ELLA and HPD SARA Programs, accompanied by 4% Low Income Housing Tax Credit (LIHTC) equity, this project provides 205-units of affordable housing all reserved for seniors aged 62 and over with incomes at or below 50% of the Area Median Income (AMI). We look forward to our continued work with the team as we aim to convert the project from construction financing to permanent loan conversion in the coming months!

Interested in applying for Clean Communities Investment Accelerator (CCIA) funding but unsure whether the projects you finance are eligible? ? Opportunity Finance Network recently launched a Project Eligibility Tool that succinctly outlines every requirement necessary to access CCIA funding through their program. This tool is a resource for any organization that is interested in applying for CCIA funding. ? Forsyth Street is proud to have helped develop this tool with Susan Leeds and Patrick O'Donnell, PE. The CCIA program is aimed at providing capital to community lenders to promote investment in projects that reduce greenhouse gas emissions in low-income and disadvantaged communities.?We are looking forward to the impactful projects that get funded with CCIA dollars. Access the Project Eligibility Tool and more Application Resources here: https://lnkd.in/ebXx8Wv2

Forsyth Street is proud to have served as underwriting consultants on two of the latest investments from the?Austin Community Foundation's?Housing Accelerator Loan Fund. This $2 million in funding will help address critical housing needs in Austin. ? https://lnkd.in/eVVk7_Dw Elliott Weissmann Evan Seiler

Exciting news - today OFN opened applications to the pilot round of grant funding for their $2.3 billion Clean Communities Investment Accelerator (CCIA) program! These grants will be distributed to mission-driven community lenders with a strong climate funding strategy, a robust eligible project pipeline, and a track record of financing CCIA-eligible projects. This pilot round will be accessible to Opportunity Finance Network members who are in good standing, with the winners will announced in early 2025. Community lenders who are early in the development of their climate lending programs will be able to apply for the Nascent Climate Lender Training series that will get them ready for CCIA grants. ? Congratulations to the OFN team (Amber Kuchar-Bell, Jessel Amin, Lisa Wright, Shakeyda Daniels, Nicole Sonderegger, Emily Robichaux, Quinn Coleman, Seth Julyan, & Sindhu Lakshmanan to name a few) for their efforts in launching the application and the nascent lender training! Forsyth Street has worked alongside Susan Leeds and Community Sustainability Partners with technical support from Patrick O'Donnell, PE to help OFN develop just a small piece of this application and its supporting materials. We are looking forward to continuing to support OFN's work and launch a successful program in partnership with Guidehouse! ? For information on how to apply to the program, visit this link: https://lnkd.in/ecd5qsK4

Alex Cabral of Grounded Solutions Network explains how the organization's path-breaking model of Homes for the Future will use a mix of market and impact capital to create a pipeline of permanently affordable homeownership opportunities for Black and Brown communities. Forsyth Street helped assemble the business strategy for Homes for the Future and continues to support GSN in their work, we are excited to see where it goes!

This #ClimateWeekNYC, Forsyth Street, in partnership with Susan Leeds and Community Sustainability Partners, is focused on supporting clients in deploying the US Environmental Protection Agency (EPA)'s Greenhouse Gas Reduction Fund (GGRF). Our client Opportunity Finance Network received a $2.3 billion CCIA award, and we were happy to see them and many other awardees collaborating on opportunities and discussing challenges to reach low-income and disadvantaged communities with this historic grant at the "Meeting the Moment: Practical Steps for Making the Most of the Greenhouse Gas Reduction Fund" event at NYU Stern on Tuesday.? Keep an eye out for updates on Forsyth Street's GGRF Readiness work in the mission lending sector!