Applications are now open through April 25, 2025
Content updated to reflect new application deadline.
Austin, TX – The Austin Housing Finance Corporation (AHFC), in collaboration with Capital Impact Partners and HousingWorks Austin, announces the return of the Austin Equitable Development Initiative (formerly known as the Austin Small Developer Training), a program focused on empowering community-rooted developers to lead revitalization efforts. The Equitable Development Initiative (EDI) works to broaden participants’ skills and opportunities through training, mentorship, and financing. Applications are open through April 25.
“We are proud to support an initiative with goals to ensure real estate developers reflect Austin’s diverse communities,” explains Mandy DeMayo, Interim Director of the Housing Department and AHFC Treasurer. "The Equitable Development Initiative cohort support will help organizations become more involved in the region’s booming real estate market to create more affordable housing units as well as job opportunities locally.”
The Equitable Development Initiative (EDI) empowers emerging real estate developers to engage in community development and revitalization efforts. By leveraging local expertise, strategic partnerships, and strengths in program design and project financing, EDI aims to enhance developers' careers while benefiting local communities, particularly those in need of continued investment and development.
“Empowering local real estate developers will help them become more involved in creating more affordable housing and more of the buildings that Austin's community members are seeking," said Lauren Counts, Head of National Programs for Capital Impact Partners, which is part of the Momentus Capital branded family of organizations. "We have seen the impact made by local real estate developers as the result of our programs in cities throughout the country, including the Austin Small Developer Training, and we are pleased to be able to continue in this region."
Led by the Momentus Capital branded family of organizations through Capital Impact Partners, this nine-month learning series will focus on the current real estate development environment and will accept 15 participants. In collaboration with the City of Austin and HousingWorks Austin, the EDI prepares participants to undertake housing projects that shape Austin's development landscape. Participants will receive essential tools to help grow their businesses, including training, technical assistance, advising, networking opportunities, and potential financing pathways.
“While we continue to make strides as a community in addressing affordability, we know that it is critical for us to continue to develop affordable housing to serve those most in need,” said Awais Azhar, Executive Director of HousingWorks Austin. “The Equitable Development Initiative helps ensure that we can rely on a robust pool of talented, local developers who are committed to serving the community and addressing affordability in the Austin region.”
If you are an emerging real estate developer in the Austin area looking to expand and grow your business and expertise, apply for the Austin Equitable Development Initiative (EDI) by April 25.
To learn more about the Austin Equitable Development Initiative, join an upcoming informational webinar:
- Friday, April 4, 2025, at 1:00 p.m. CT – RSVP to attend!
Eligibility Criteria
Candidates are selected based on the following eligibility criteria guidelines:
- Demonstrated barriers to accessing capital, including limitations to balance sheet capacity, and the resources required to advance affordable housing projects that benefit their communities
- Able to illustrate how barriers to accessing critical industry networks have restricted or limited accelerated personal and professional growth
- Demonstrated need for specialized real estate, financial, technical, and enterprise management training to scale their businesses
- Live in or near the primary metropolitan area of the program, and have a strong connection to the city in which they are working
- Demonstrate a commitment to local community growth and development, and actively participating in that effort in the applicant’s city
- Be able to commit to in-class training sessions on a weekly basis for up to six (6) hours per week during the cohort period
- Be interested in responding to requests for proposals for real estate development opportunities with or without a development partner in the next 1-2 years
Program History
2023 Austin Small Developer Training Cohort Participants
The program's first iteration launched in April 2023 with 20 participants selected for the four-month program. The Austin Small Developer Training program was specifically crafted to confront the top challenges real estate developers face in Austin. The curriculum provided these often overlooked, small-scale real estate developers with the tools they need to grow their business while working towards increasing affordable housing availability.
The real estate industry has been dominated by larger national and global firms. Less than 1% of real estate development companies in the United States are owned by people of color, and women make up a little over one-third of the industry. Supporting smaller emerging, community-oriented developers not only helps grow their businesses but also fosters the creation of affordable housing and mixed-use projects that revitalize historically disinvested areas.
About the City of Austin Housing Department
The City of Austin Housing Department provides equitable and comprehensive housing solutions, community development, and displacement prevention services to enhance the quality of life of all Austinites. To access affordable housing and community resources, visit www.austintexas.gov/housing.
About the Austin Housing Finance Corporation
The Austin Housing Finance Corporation (AHFC) was created as a public, non-profit corporation and instrumentality of the City of Austin. The mission of the AHFC is to generate and implement strategic housing solutions for the benefit of low- and moderate-income residents of the City of Austin.
About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve by deploying mission-driven financing, capacity-building programs, and impact investing opportunities. Learn more at capitalimpact.org or momentuscap.org.
About HousingWorks Austin
HousingWorks Austin is a 501(c)(3) nonprofit organization. They advance their mission to preserve and increase the supply of affordable housing through research, education, and advocacy in Austin, Texas and the surrounding region, with a commitment to ensuring those most in need have access to safe and affordable housing. HousingWorks Austin is guided by the maxim, “All Kinds of Homes, in All Parts of Town, for All Kinds of People.”