Most Popular Searches

Charlotte’s Unique Partnership Is All About Building Opportunity

November 8, 2019 | By

In the 2014 study conducted by Harvard economist Raj Chetty, Charlotte, NC, was ranked last in upward economic mobility among the 50 largest cities in the U.S. The study found that a child born into poverty in Charlotte was likely to continue to live in poverty throughout adulthood. At the Unlocking the Market conference sponsored by the Urban Institute and Fannie Mae, local changemakers discussed how the city is tackling the problem.

Ralphine Caldwell, Executive Director of Charlotte’s Local Initiatives Support Corporation, said, “It’s going to take more than just the city to be able to accomplish the goals that we want to accomplish in the next few years when it comes to housing.”

A private-public partnership

In 2018, the Foundation For The Carolinas created the privately financed Charlotte Housing Opportunity Investment Fund with a $5 million investment to build affordable housing and a commitment to raise $50 million. The city also dramatically increased its publicly financed Housing Trust Fund allocation to $50 million. That was the start of a unique partnership in which the city government, businesses, banks, the healthcare system, the energy company, developers, community organizations, and philanthropists all worked together.

A positive impact

Pam Wideman, Director of the City’s Housing & Neighborhood Services, reported, “Multi-family growth is on the rise [in] our center city [and] in areas just right outside of our downtown. People are coming back to those neighborhoods. [They] want to be able to live close to where they work and where there’s transportation.”

Learn how Charlotte is providing more affordable housing for its residents as well as increasing access to homeownership education, workforce development, and transportation options. Watch the full presentation.

comments

COMMENTING POLICY

 

We appreciate and encourage lively discussions on our websites’ content. While we value openness and diverse points of view, all comments should be appropriate for people of all ages and backgrounds. We do not tolerate and will remove any comment that does not meet standards of decency and respect, including, but not limited to, posts that:

  • are indecent, hateful, obscene, defamatory, vulgar, threatening, libelous, profane, harassing, abusive, or otherwise inappropriate
  • contain terms that are offensive to any group based on gender, race, ethnicity, nationality, religion, or sexual orientation
  • promote or endorse a product, service, or vendor
  • are excessively repetitive, constitute “SPAM” or solicitation, or otherwise prevent a constructive dialogue for others
  • are factually erroneous or misleading
  • threaten the privacy rights of another person
  • infringe on intellectual property and proprietary rights of another, or the publication of which would violate the same
  • violate any laws or regulations

We reserve complete discretion to block or remove comments, or disable access privilege to users who do not comply with this policy. The fact that a comment is left on our website does not indicate Fannie Mae’s endorsement or support for the content of the comment.

Fannie Mae does not commit to reviewing all information and materials submitted by users of the website for consideration or publication by Fannie Mae (“User Generated Contents”). Personal information contained in User Generated Contents is subject to Fannie Mae’s Privacy Statement available here. Fannie Mae shall have otherwise no liability or obligation with respect to User Generated Contents and may freely copy, adapt, distribute, publish, or otherwise use User Generated Contents without any duty to account.

A Window Into Housing In America

Subscribe to our newsletter for each week's top stories. Enter your email address below to stay in the know.

Accessibility