PRO Neighborhoods: Innovative Strategies for Affordable Housing
This brief describes five novel and replicable programs that are providing housing for low- and moderate-income Americans. These programs were created by collaborations of community development financial institutions (CDFIs) that received grants from JPMorgan Chase & Co.’s Partnerships for Raising Opportunity in Neighborhoods (PRO Neighborhoods) program. These partnerships have deployed capital in diverse ways, providing financial products and services to individuals, small businesses, affordable housing developers, and other nonprofit organizations. The initiatives, which are being carried out in different parts of the country, have helped produce many types of housing including subsidized and private rental units, homeowner houses, and manufactured housing.