The Urban Investment Group within Goldman Sachs Asset Management announced that it closed a $75 million investment with the National Affordable Housing Trust (NAHT) to establish the Black Developers Initiative Affordable Housing Fund, which will finance high-quality affordable housing across the country sponsored by Black-led developers — GlobeSt.com
Six organizations in San Francisco, Georgia, New York and Dallas received the capital grants for community and affordable housing projects. Two of the projects work to address housing disparities, while the rest touch on topics surrounding the issues at the core of the $130 billion financial institution’s initiative, which is aimed at improving the lives of one million Black women.
“A lot of people don’t know that Black women are a third more likely to live in unsafe housing,” Goldman Sachs Foundation president Asahi Pompey told theGrio. “You’ve got to, one, have a place to call home, and two, that’s got to be a safe environment for not only Black women, but Black girls that are growing up in those houses.”
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