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Allivate Impact Capital
Building innovative capital solutions to elevate communities.

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Our Values

Making investments that count.

We are an impact investing firm that manages capital across asset classes in ways that are responsive to community needs. We operationalize impact goals in line with the following core values. The needs are too great to not act with the urgency and intentionality bringing new solutions to recurring problems.

Community Impact

Community Impact

We invest in communities and populations that have historically been underinvested. We believe these communities and populations have underutilized assets that with the right capital solutions can realize untapped potential.

Vision Centric

Vision Centric

We are intentional about engaging communities to understand their long-term vision and investing in a way that supports this vision.

Strategic Partnerships

Strategic Partnerships

We seek opportunities to combine tools from private, public, and nonprofit partners to yield results that would not be possible without such intentional collaboration.

Entrepreneur-focused

Entrepreneur-focused

We activate entrepreneurial ecosystems by bringing transparency to resources and capital.

Diversity

Diversity

As a female led firm with a diverse management team, we believe that diversity of perspectives leads to improved performance.

Positive Returns

Positive Returns

Our goal is to drive positive social impact and attractive risk-adjusted financial returns.

About Us

Allivate Impact Capital is a subsidiary of Woodforest Financial Group. Our industry leading team has been recognized globally for its impact investing track record.

Allivate's Team
Daniel Galindo in a conference
OZ The Forbes 20
Forbes

Recognized by Forbes and the Sorenson Impact Center as one of The Forbes OZ 20: Top Opportunity Zone Catalysts and one of the 10 most innovative and impact focused OZ investors in the country.

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BAI

Recipient of the 2020 BAI Global Innovation Award in Societal & Community Impact Innovation category.

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Office of the Comptroller of the Currency

Highlighted by OCC for industry-leading Opportunity Zone investment strategy.

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“We cannot solve our problems with the same level of thinking that created them.”

– Albert Einstein

Impact

Allivate Impact Capital utilizes the Opportunity Zone Impact Reporting Framework to operationalize the impact goals of our investments. The framework is designed around the following guiding principles:

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Noelle's Impact'

Community Engagement

We integrate the needs of local communities into the formation and implementation of funds, reaching low-income and underinvested communities with attention to diversity.

Equity

We seek to generate equitable community benefits, leverage other incentives and aim for responsible exits.

Transparency

As investors, we strive to be transparent and hold ourselves accountable, with processes and practices that remain fair and clear.

Measurement

We voluntarily monitor, measure and track progress against specific impact objectives, identifying key outcome measures and allowing for continuous improvement.

Outcomes

Our Opportunity Fund metrics track real change, with an understanding that both quantitative and qualitative measures are valuable indicators of progress.

Working with national and community partners and listening to residents in each unique community is key to our success. Join us to help elevate your neighborhood.

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CASE STUDIES

Investment Highlights

St. James Hotel Restoration

The St. James Hotel Restoration project in Selma, AL, converted a shuttered asset central to the rural community’s rich history into a 55-key, Hilton™-branded, quality hotel...

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Sharswood Ridge

The Sharswood Ridge project is helping to revitalize the Sharswood neighborhood in Philadelphia by building approximately 234,000 square feet of affordable and workforce housing and retail development, including a grocery store, a bank branch, and an urgent care medical clinic, all of which the neighborhood desperately needs.

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Zero Energy North Avenue Mixed-Use

The Zero Energy North Avenue Mixed-Use project in Baltimore, MD, converted 7 abandoned rowhomes into 20 units of affordable housing and 4 retail storefronts in the predominantly Black Penn North neighborhood in West Baltimore...

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Our Team Our Advisors Social Impact Advisory Board

We are experienced industry leaders with a track record in financial services and impact investing.

We are experienced industry leaders with a track record in financial services and impact investing.

The Social Impact Advisory Board for AIC CEI-Boulos Capital Management is comprised of leading national experts on investing in low- and moderate-income communities and the emerging field of Opportunity Zone impact investing, measurement, and reporting.

News & Stories

Learn more about what's happening with our work, community partners and within the impact investing industry.

Seattlesatriumcourt

Seattle's Atrium Court Project Creates Affordable Workforce Housing, Jobs, & Neighborhood Revitalization

Highlights include 271 affordable workforce housing units, 80 area jobs, close access to public transportation & quality food, & environmentally sustainable development SEATTLE, Feb. 6, 2024 /PRNewswire/ -- A groundbreaking celebration was held today for Atrium Court at 7324 Martin Luther King Jr. Way S. in Seattle's Othello neighborhood. Atrium Court will create 271 units of affordable workforce housing, 80 jobs, and ground-level retail space adjacent to a light rail station in the historic and diverse South Seattle neighborhood. A groundbreaking event was held today for Atrium Court in Seattle’s Othello neighborhood. The project will create affordable workforce housing, jobs, and ground-level retail space adjacent to a light rail station in the historic and diverse South Seattle neighborhood. The largest and majority equity investor in the project is an investment vehicle jointly sponsored and managed by Allivate Impact Capital® and CEI-Boulos Capital Management, which invested $15 million in equity alongside a $41 million primary loan from Trez Capital, and a $16 million low-interest loan from the Amazon Housing Equity Fund. "We're committed to investing private capital to help revitalize historically underinvested communities like Seattle's Othello neighborhood," said Sam Spencer, CEO and Managing Director of CEI-Boulos Capital Management. "We're thrilled to be partnering with Allivate Impact Capital and the Amazon Housing Equity Fund to support this socially and environmentally impactful project that will provide transit-oriented affordable housing to residents of this multicultural community." Noelle St. Clair Lentz, CEO and Managing Director of Allivate Impact Capital added, "Allivate Impact Capital proudly stands alongside CEI-Boulos Capital Management, Housing Diversity Corporation, Amazon, Nitze-Stagen, Trez Capital, and others to support the creation of affordable workforce housing through the Atrium Court project. This type of intentional collaboration is necessary to deliver the innovative capital solutions allowing communities such as the Othello neighborhood to fully realize their truAle potential." "Atrium Court will provide much needed, high-quality affordable housing with easy access to transit and other services that will contribute to residents' quality of life," said Alice Shobe, Global Director, Amazon Community Impact. "This project models how the private sector can contribute long-term affordable housing to vibrant communities like the Othello neighborhood." To address the increasing scarcity of affordable housing for residents earning low and moderate incomes, 59% of the development's 271 units will be income-restricted to those earning no more than 80% Area Median Income (AMI), while 10% of units will be income-restricted at 60% AMI, and 5% of units will be income-restricted at 50% AMI. All affordability requirements will have a term of 99 years. "Atrium Court is the type of project Trez Capital is proud to be a part of – we look for financing opportunities that yield purposeful and impactful communities focused on building a brighter future for residents," said Brody Toigo, Managing Director, Head of Origination, Western U.S., Trez Capital. "Breaking ground marks our first milestone toward helping address the affordable, build-for-rent, multi-family housing shortage in the Othello community." Housing Diversity Corporation, the lead developer for Atrium Court, started construction in January 2024. "We are proud to have assembled a group of partners dedicated to creating opportunities through thoughtfully designed affordable housing for the community. Atrium Court, with its 271 residential units and retail space, will transform a previously vacant lot into a vibrant space for the Othello community to grow and thrive," said Brad Padden, CEO and Founder of Housing Diversity Corporation. "Nitze-Stagen has been focused on bringing private social impact investors together to meet the housing affordability gap in our city and Atrium Court is a model that does just that," said Lisa Nitze, Principal at Nitze-Stagen. "It is coupled with our commitment to support the small businesses that are historically distinctive in Othello, with a Performa that enables us to lease to authentic neighborhood retail, services, or non-profits that the community has identified as a need. We are excited to be at the groundbreaking of this community-centric development." The project has a strong focus on environmental sustainability, including reducing energy consumption and conserving water. The project will employ modern green building design features, construction methods, and operating systems including stormwater management, a 33-kilowatt roof mounted solar array, passive solar design, compost collection, and no fossil fuel-dependent systems for building heat. In addition, the transportation-oriented project is less than 200 feet from the Othello Light Rail Station – reducing future tenants' need for cars, resulting in a smaller financial burden and carbon footprint. The project supports Seattle's "Urban Village" concept within the city's "Seattle 2035 Comprehensive Plan," which aims to increase housing density and affordability in neighborhoods near light rail stations, prioritizing walkability and public transit over driving. The project's location near light rail, along with easy access to necessities like groceries, aligns with the city's goal of reducing car dependence, reducing the need to utilize valuable real estate for parking, and reducing transportation emissions. The project is expected to create 60 construction jobs, and 20 permanent jobs between property management and the retail spaces. The project also aligns with the City of Seattle's community development goals. Additionally, Sponsor OZ Navigator, a partnership between Housing Diversity Corp. and Nitze-Stagen conducted extensive multilingual outreach to determine community needs which informed the project's planning and design. One feature created in response to community feedback will be a lighted rotating sculpture at the building's entrance created by local artist Fumi Amano that displays various phrases in languages spoken within the Othello community. The project team also includes STS Construction as the General Contractor; Neiman Taber Architects; Quantum Engineering as the Structural Engineer; Sitewise as the Civil Engineer; and KKLA (Karen Kiest Landscape Architects) as the Landscape Architect.

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Allivate Impact Capital

February 06, 2024

Atrium Court Exterior Streetscape

Housing Diversity Corporation Announces 2024 Construction Start of 7324 MLK Jr. Way

Seattle, WA. – December 21, 2023 – Housing Diversity Corporation, the lead construction developer for Atrium Court, announced today that they have attained financing to start construction on the eight-story, mixed-use housing development located in Seattle's Othello neighborhood. Construction is anticipated to start next month, January 2024 with completion estimated in mid-2026. The transit-oriented project is located one block from the Othello Link Light Rail Station and will feature 271 apartments, all priced to be affordable for individuals and families earning between 50% and 80% of area median income (AMI). Rendering created by Neiman Taber The project received $16 million from the Amazon Housing Equity Fund, as a low-interest loan, to ensure that all 271 apartment homes will be income restricted for 99-years. “Atrium Court is a great example of leveraging private capital and collaboration to build affordable apartment housing,” said Senthil Sankaran, Managing Principal, the Amazon Housing Equity Fund. “It models how the private sector can help build long-term, attainably priced housing and is the type of project that our Housing Equity Fund was created to support. To date, Amazon has invested nearly than $550 million to create or preserve more than 5,500 units in the Puget Sound region.” The project team is also partnering with an investment vehicle jointly sponsored and managed by Allivate Impact Capital and CEI-Boulos Capital Management, which closed on a $15 million investment, as the single largest and majority equity investor in the project. Rendering created by Neiman Taber “Our fund is committed to harnessing the Opportunity Zone incentive to serve its intended purpose – to help revitalize historically underinvested communities like Seattle’s Othello neighborhood,”said Sam Spencer, CEO and Managing Director of CEI-Boulos Capital Management. “We’re thrilled to be partnering with Allivate Impact Capital and Amazon Housing Equity Fund to support this socially and environmentally impactful project that will provide transit- oriented affordable housing to residents of this rich multi-cultural community.” “In 2019, we set out to perform on the goals of the Opportunity Fund Zone legislation by investing in under-developed communities,” stated Brad Padden, Founder & CEO of Housing Diversity Corporation. “Collaborations such as Amazon’s Housing Equity Fund are critical in getting these important projects across the financing finish-line.” “In 2023, the City of Seattle had a reduction of 60% of new apartment application permits in comparison to the peak of 2021. A lack of new supply will only further increase the high cost of in-city living,” concluded Padden. Atrium Court also includes 2,344 SF of ground-floor retail. The project team includes: Nitze-Stagen as a development partner, STS Construction as the General Contractor, Neiman Taber Architects; Quantum Engineering as the Structural Engineer; Sitewise as the Civil Engineer; KKLA (Karen Kiest Landscape Architects) as the Landscape Architect.

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Allivate Impact Capital

December 21, 2023

Web collage with Noelle speaking and more people

Private Capital Investment in Multifamily Affordable Housing

On March 27, 2023, our CEO, Noelle St.Clair Lentz was selected to speak on a panel hosted by Federal Reserve Bank of New York focused on private capital investment in affordable multifamily rentals. Speakers covered policy issues related to tenants and affordability restrictions; strategies used by investment managers in deploying capital; and investor motivations in exploring this asset class. Noelle’s focus for the panel, moderated by Carl Jenkins, Managing Director and Group Head of Community Capital Solutions at BMO was providing her expertise and insights concerning investor perspectives related to the issue. Watch the Event EVENT AGENDA 2:00pm-2:20pm Welcome Remarks David Erickson, Head of Outreach & Education, Federal Reserve Bank of New York 2:20pm-2:40pm Research Presentation Andrew Aurand, Senior Vice President for Research, National Low Income Housing Coalition 2:40pm-3:25pm Investment Manager Perspectives Moderator: Jonathan Kivell, Director of Community Investments, Federal Reserve Bank of New York Summer Haltli, Principal, FCP Brian Allen (AJ) Jackson, Executive Vice President, Social Impact Investing, JBG SMITH Antonio Marquez, Principal and Managing Partner, Comunidad Partners 3:25pm-3:40pm Break 3:40pm-4:25pm Investor Perspectives Moderator: Carl Jenkins, Managing Director and Group Head of Community Capital Solutions, BMO Christine Looney, Deputy Director, Mission Investments, Ford Foundation Noelle St.Clair Lentz, CEO and Managing Director, Allivate Impact Capital Adam Galowitz, Managing Director, Tax Advantaged Investments, State Street Bank & Trust Co. 4:25pm-5:10pm Policy Perspectives Moderator: Rasheedah Phillips, Director of Housing, PolicyLink Barika Williams, Executive Director, Association for Neighborhood Housing & Development Mark Calabria, Senior Advisor, Cato Institute Bob Simpson, President, Multifamily Impact Council 5:10pm-5:15pm Closing Remarks Maria Carmelita Recto, Community Development Associate, Federal Reserve Bank of New York

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Federal Reserve Bank of New York

March 27, 2023

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