Overview
Access to safe, affordable housing is a major determinant of an individual and family’s health and well-being. Across the country, housing prices are rising, and the supply of affordable options cannot keep up with demand.
The Kenan Trust invests in projects that preserve and expand affordable housing for low-to-moderate income families. We invest in larger scale projects with established developers who are creating new units or who are working to preserve the quality and affordability of existing units.
Eligible Project Types
The Kenan Trust will fund projects that:
- Create new single or multi-family units at scale; or
- Preserve existing single or multi-family units.
Though it is not required, the strongest projects will also include wrap-around services or programming for residents (i.e.: workforce development, financial education, job training and placement support) either through internal programming or in partnership with community organizations.
Eligible Organizations
The Trust will consider proposals for the types of projects listed above from:
- Nonprofit Developers with an experienced leadership team and with 250 rental units under management or an established track record of developing single family homes; or
- Community Development Financial Institutions
Size and Duration of Grants
Grants in this focus area will generally range from $500,000 to $2M. Grant durations will typically span 1 – 2 years.
Please note, the grant size and duration listed here are meant as a general guide. A Kenan Grant Officer will work closely with organizations advancing to later stages of our grant process to tailor grant requests if needed.
Featured Grant in Affordable Housing: Carrfour
The Kenan Trust awarded a grant to Carrfour Supportive Housing, a leading non-profit developer of supportive and affordable housing in Florida. The grant will support Carrfour’s efforts to develop six new affordable housing communities in Florida, bringing 457 new units of affordable housing. The communities are located throughout the state, but each offers wrap-around services either through Carrfour’s own programming or in partnership with community organizations.
