GREEN BAY, WI (WTAQ-WLUK) — An investment in affordable housing is the being called the first-of-its-kind in Northeast Wisconsin.
The Greater Green Bay Community Foundation launched its new Impact Investing Program Wednesday.
The initial investment supports the construction of a home at 929 N. Broadway in partnership with NeighborWorks Green Bay.
NeighborWorks Green Bay partners with Green Bay Area Public Schools, Northeast Wisconsin Technical College and local trades organizations to give local high school students hands-on experience in homebuilding.
By investing in the N. Broadway home, it will launch a cycle of community reinvestment, fueling future community projects.
“Through our work to develop and provide housing we see significant opportunities to leverage philanthropy,” said Noel Halvorsen, President & CEO of NeighborWorks Green Bay. “Impact Investment, where foundations and other donors can lend to charities for an economic return while directly effecting change in the community, represents a fundamental change in the community’s tool chest. We’re excited to be the first borrower under this program.”
Investments into future projects will focus on creating more affordable housing, improving access to quality healthcare, building educational pathways, and opening economic opportunities to meet the community’s evolving needs.
