AUSTIN, TX – The Austin Housing Finance Corporation announces that 20 participants have been selected for the Austin Small Developer Training Program, a new program led by Capital Impact Partners and HousingWorks Austin. This program will help provide small developers with training, mentorship, networking, and potential pathways to financing for eligible real estate projects in Austin. The cohort of awardees began their training in July and will continue through October 2023.
The Austin Small Developer Training provides opportunities to historically excluded and overlooked small-scale real estate developers, helping to create more affordable housing and job opportunities locally. Less than five percent of housing developers in the United States are people of color, and only one-third of housing developers in this country are women.
“The Austin Small Developer Training program will empower each real estate developer to confront the top industry challenges faced in Austin,” explains James May, Housing and Community Development Officer for the Austin Housing Finance Corporation. “We know these business strategies and industry connections will be critical resources to help bring more affordable housing investment throughout Austin.”
Those selected for the free, four-month program have demonstrated a commitment to affordability and fair housing in Austin. Participants will learn strategies for finding more attainable land opportunities for small-scale development and learn from zoning experts, who will walk through the process and best practices to avoid common delays and challenges.
“We are excited to welcome these 20 developers, to help them grow over the course of the Austin Small Developer Training, and to see the impact they will create as they work to bring more affordable housing and investment into historically underserved communities,” said Raymond Guthrie, Chief Investment Officer and Head of Capital Deployment for Capital Impact Partners and CDC Small Business Finance, each of which is part of the Momentus Capital branded family of organizations.
Capital Impact Partners has trained more than 200 developers through its Equitable Development Initiative and also provides financing for eligible real estate projects in Austin. With its partners, they have formed a referral network of regional community development financial institutions and local lenders in order to connect developers with other sources of financing. Capital Impact Partners collaborated with HousingWorks Austin, a nonprofit organization that aims to increase the supply of affordable housing in Austin by providing research, education, advocacy, and thoughtful, workable affordable housing policy recommendations.
"The Small Developer Training Program strongly aligns with our mission to educate individuals about affordable housing and increase housing opportunities through new development, explains Nora Linares-Moeller, Executive Director of HousingWorks Austin. “What better way to expand housing opportunities than training new developers to bring new perspectives and build needed affordable housing in Austin? We couldn't be more thrilled to be a part of this important endeavor for the city.”
Austin Small Developer Participants
- Affordable Central Texas | Monica Medina
- ALEON Properties, Inc. | Charmane Sellers
- Aligned Wealth Partners | David Thompson II
- Blackland CDC | Andy Bucknall
- Blackshear Neighborhood Development Corporation | Cynthia Mathis-Gaines
- Boomers Collaborative Foundation Inc | Carol Lilly
- Castillo Acquisitions, LLC | Anthony Castillo
- Chestnut Neighborhood Revitalization Corporation | Lex Miller
- Drenner Group | Temaria Davis
- Equidad ATX | Ashton Cumberbatch, Jr.
- GreenSphere, Inc & The Property Center | Mo Sheikh
- Haslem Development Corporation | Kandra Haslem
- Hayat Brown | Curtis Wilkins
- Industry ATX | Megan Etz
- LT Development Partners | Lezlie Le
- Manifold Real Estate | Mila Santana
- Nill Consulting | Ryan Nill
- Spark Root Development and Construction | Daniel Canizales
- Titan Valuation LLC & Deets Development | Stephen Brown
- Thoughtful Development Partners LLC | Zeeshan Malik
How the Austin Small Developer Training Program Will Help
The Austin Small Developer Training program has been specifically crafted to confront the top challenges real estate developers face in Austin. Local industry leaders will provide capacity-building and insights to participants on successfully navigating the local review process, preparing financial applications, and leveraging business partnerships with community members.
Developers will also learn strategies for finding more attainable land opportunities for small-scale development and learn from zoning experts, who will walk through the process and best practices to avoid common delays and challenges.
In 2017, the City of Austin adopted its Strategic Housing Blueprint, which included a 10-year aspirational goal to construct 60,000 affordable housing units for households at or below 80 percent of the median family income, and an additional 75,000 units for households earning more than 80 percent of the median family income.
To access affordable housing and developer 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 is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We work to champion key issues of equity and social and economic justice by deploying mission-driven financing, capacity-building programs, and impact investing opportunities. Capital Impact is part of the Momentus Capital branded family of organizations, including CDC Small Business Finance and Ventures Lending Technologies.
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.”