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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.

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Welcome Remarks

David Erickson, Head of Outreach & Education, Federal Reserve Bank of New York


Research Presentation

Andrew Aurand, Senior Vice President for Research, National Low Income Housing Coalition


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




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.


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


Closing Remarks

Maria Carmelita Recto, Community Development Associate, Federal Reserve Bank of New York

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Federal Reserve Bank of New York

Published March 27, 2023