Housing Impact Fund
- Company typePrivate
- Founded2020
- HeadquartersCharlotte, United States
- Headcount—
- GTM typeB2B
- OfferingServices
Housing Impact Fund firmographics
Firmographics- Name
- Housing Impact Fund
- Legal name
- Ascent Housing
- Website
- https://ascenthousing.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Ownership category
- akta.pro rank
Housing Impact Fund industry classification
Industry- Product category
- Affordable Housing Preservation
- NAICS
- Other Community Housing Services (624229), Residential Building Construction (23611)
- SIC
- Investment Advice (6282), Real Estate Agents & Managers (For Others) (6531), Services-To Dwellings & Other Buildings (7340)
- akta.pro primary industry
- Community Development & Affordable Housing Funds (FSANAJAK)
- akta.pro secondary industries
- Social Impact & Inclusive Finance Funds (FSANAJAH), Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC), Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
Keywords
Where Housing Impact Fund is headquartered
LocationHeadquarters
- HQ city
- Charlotte
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Housing Impact Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- Social Impact Equity Investment Returns: The fund raises social impact equity from investors (banks, health systems, foundations, corporations) representing approximately 30% of total funding for each property, combined with low-interest government loans, philanthropic capital, and below-market mortgage financing from Freddie Mac and Fannie Mae. Investors receive modest returns while achieving social impact.
- Rental Income: Rental income from affordable housing units to residents earning 0-80% AMI. Average tenant in the 30% AMI and below category pays approximately $336/month from an average monthly household income of $1,157.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | 30% AMI Tier - Lowest income households |
| Subscription | Monthly | 60% AMI Tier - Moderate income households |
| Subscription | Monthly | 80% AMI Tier - Working families |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Housing Impact Fund product offering
Product offeringCore offering
Housing Impact Fund is a private social impact equity fund that acquires, renovates, and preserves naturally occurring affordable housing (NOAH) in the Carolinas. The fund raises capital from institutional investors and deploys it through dedicated fund vehicles that apply 20-year deed restrictions to maintain long-term affordability. Ascent Housing serves as the operating partner for property management and the delivery of supportive resident services.
Product overview
Ascent Housing serves as fund manager and operating partner for social impact funds that preserve naturally-occurring affordable housing (NOAH) in the Carolinas. The product suite includes the Housing Impact Fund series (HIF I, HIF II, HIF III) focused on Charlotte, and the Charleston Workforce Housing Fund. HIF III ($102M, 2026) is the largest fund targeting 1,500 units for 5,000 residents, following HIF II ($67M, 2023) with 1,200-unit goal and HIF I ($58M, 2020) with 805 units. The Charleston fund ($50M) targets 1,000 units in the Charleston MSA. All funds acquire, renovate, and protect existing apartment communities with 20-year deed restrictions ensuring affordability for households earning 0-80% AMI, combined with supportive resident services in health, education, financial wellness, and workforce development.
Differentiator
Problem solved
Functional benefit
Brands
- Housing Impact Fund I: First fund launched in 2020, raising $58 million to preserve NOAH properties in Charlotte.
- Housing Impact Fund II
- Housing Impact Fund III
- Charleston Workforce Housing Fund
Products and services
- Housing Impact Fund I Inaugural social impact equity fund deploying approximately $58 million to acquire, renovate, and preserve naturally occurring affordable housing in the Carolinas, with 20-year deed restrictions on acquired properties.
- Housing Impact Fund II Second social impact equity fund deploying approximately $67 million to continue NOAH preservation activities in the Carolinas, with 20-year deed restrictions on acquired properties.
- Housing Impact Fund III Third social impact equity fund deploying approximately $102 million to scale NOAH preservation activities in the Carolinas, with 20-year deed restrictions on acquired properties.
- Charleston Workforce Housing Fund Workforce-focused housing fund deploying approximately $50 million to preserve naturally occurring affordable housing in the Charleston, South Carolina market, with 20-year deed restrictions on acquired properties.
Quantifiable outcome
- 40% below market rents
- +5 more outcomes
Companies that use Housing Impact Fund
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles2 records
Housing Impact Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Housing Impact Fund partnerships and signals
Strategic signalPartnerships
25 partnerships are on record, tiered core, major and minor.
- Atrium HealthcoreHealthcare partner embedding Community Impact Workers in each property community. Partners on workforce development and community health initiatives. Provides on-site virtual care clinic at Peppertree Apartments. Key investor in HIF III.
- Mecklenburg CountycorePublic partnership enabling 100% of property taxes from HIF communities to be reinvested as rental subsidies for 30% AMI and below households. Co-developer of innovative affordable housing program.
- City of CharlottecorePublic partner in property tax reinvestment program and supportive housing initiatives. Partner in EV car share program at Peppertree Apartments.
- Charleston Regional Development Alliance (CRDA)coreCatalyzed the Charleston Workforce Housing Fund following the HIF model. Ascent Housing serves as Fund Manager and Operating Partner for the $50M fund targeting 1,000 units in the Charleston MSA.
- Roof AbovemajorCharlotte nonprofit and partner in HillRock Estates acquisition (341-unit property). Co-acquired property with Ascent Real Estate Capital for NOAH preservation.
- Common Wealth CharlottemajorDelivers on-site financial empowerment workshops teaching community members about budgeting, savings, credit-building, and home ownership.
- Levine Cancer InstituteminorPartners on I CAN program for elementary students focusing on physical activity and nutrition education.
- The BulbminorHosts biweekly fresh produce markets for HIF residents at no-cost, supported by Truist.
- TreesCharlotteminorHosts tree planting events throughout HIF communities, addressing green gap in lower-income neighborhoods.
- ArtPop Street GalleryminorSupported creation of resident-informed community mural at Lake Mist property.
- Christ ChurchminorVolunteers held coat donation drive at Shamrock Gardens during holiday season.
- The RelativesmajorPartner in connecting youth aging out of foster care with subsidized apartments and supportive services.
- Publix PharmacyminorPartner for on-site vaccine clinics at Swan Run and Ascent Pineville properties.
- NC MedAssistminorProvides free prescriptions to community pantries at Maple Way, Shamrock Gardens, and Lake Mist.
- VIDA PharmacyminorProvides free prescription delivery and health resources to residents.
- DigiBridgeminorPartners with Lake Mist to host STEAM Summer Camp for 3rd, 4th, and 5th graders.
- E2DminorSupported laptop distribution event at Peppertree Apartments.
- Promising PagesminorSupported laptop distribution and resource fairs for residents.
- Classroom CentralminorSupported laptop distribution event at Peppertree Apartments.
- Charlotte-Mecklenburg LibraryminorPartners to host active reading workshops for families of young children at Lake Mist and Maple Way.
- Latin American CoalitionminorPartners on reading workshops and Familia Adelante programming for parents and teens.
- YMCAminorPartner in Parents As Teachers outreach program and resource fairs.
- Crisis AssistancemajorProvides rent and utility assistance to residents facing unforeseen hardships.
- Good FellowsmajorProvides financial assistance to residents facing unforeseen hardships.
- Housing CollaborativemajorPartner in youth aging out of foster care initiative and housing programs.
Scale indicators18 records
Recent moves10 records
Expansion highlights6 records
Housing Impact Fund competitors and assessment
Company assessmentDirect peers
- The NHP Foundation: Mission-driven nonprofit that preserves and develops affordable multifamily housing across the U.S. Closely comparable to HIF in unit scale, resident-services orientation, and partnership-based capital structure.
- Capital Impact Partners: National CDFI deploying capital into affordable housing, health, and education. Comparable to HIF in deploying blended capital (equity + concessionary debt) into impact real estate projects at similar check sizes.
- National Equity Fund: National LIHTC syndicator and affordable housing investor deploying institutional capital into multifamily affordable housing. Comparable to HIF in deploying blended capital pools into affordable rental housing at scale.
- Preservation of Affordable Housing (POAH): National nonprofit that acquires, renovates, and preserves affordable rental housing in high-opportunity neighborhoods. POAH's mission and acquisition-driven NOAH preservation strategy most closely mirrors HIF's approach.
- Mercy Housing: National nonprofit affordable housing organization operating in 40+ cities with 20,000+ units. Comparable mission-driven model combining LIHTC equity, philanthropic capital, and resident services to serve low-income households.
- The Community Builders: Nonprofit developer and operator of affordable and mixed-income housing with 35,000+ units nationwide. Comparable in combining development, preservation, and resident services in mixed-income communities.
- Jonathan Rose Companies: Impact-focused real estate firm acquiring and developing affordable and mixed-income housing across the U.S. Closely comparable to HIF in mission, NOAH/mixed-income strategy, and institutional-LP fundraising model.
Broad incumbents
- Enterprise Community Partners: One of the largest national affordable housing impact investors and developers with $60B+ deployed across NOAH, LIHTC, and community development. Directly comparable to HIF's NOAH acquisition-and-preserve strategy but operates at far greater scale and geographic breadth.
- LISC (Local Initiatives Support Corporation): Major national CDFI investing in housing, economic development, and community facilities. Already a partner of HIF, LISC is a comparable impact-investing peer with broader programmatic scope and similar LP base.
Regional players
- BRIDGE Housing: California-based nonprofit affordable housing developer with ~30,000 units. Comparable mission and operating model to HIF but focused exclusively on West Coast markets rather than Southeast U.S.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Housing Impact Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Housing Impact Fund leadership team
Management profileNumber of profiles
Profiles15 records
Housing Impact Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Housing Impact Fund M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Housing Impact Fund
What does Housing Impact Fund do?
Housing Impact Fund is a private social impact equity fund that acquires, renovates, and preserves naturally occurring affordable housing (NOAH) in the Carolinas. The fund raises capital from institutional investors and deploys it through dedicated fund vehicles that apply 20-year deed restrictions to maintain long-term affordability. Ascent Housing serves as the operating partner for property management and the delivery of supportive resident services.
Is Housing Impact Fund a public or private company?
Housing Impact Fund is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Housing Impact Fund founded?
Housing Impact Fund was founded in 2020.
Where is Housing Impact Fund based?
Housing Impact Fund is headquartered in Charlotte, United States, in the North America region.
How does Housing Impact Fund make money?
Two revenue lines are on record. Social Impact Equity Investment Returns are the primary driver. The others are rental Income.
Who are Housing Impact Fund's main competitors?
Direct peers on record are The NHP Foundation, Capital Impact Partners, National Equity Fund, Preservation of Affordable Housing (POAH), Mercy Housing, The Community Builders and Jonathan Rose Companies. Broad incumbents are Enterprise Community Partners and LISC (Local Initiatives Support Corporation). BRIDGE Housing is listed as a regional player.
Does Housing Impact Fund have an API?
No public API is recorded for Housing Impact Fund.
What industry is Housing Impact Fund in?
Housing Impact Fund's product category is Affordable Housing Preservation. Its primary akta.pro industry code is FSANAJAK, Community Development & Affordable Housing Funds, with a secondary code of FSANAJAH, Social Impact & Inclusive Finance Funds. Its NAICS code is 624229 and its SIC code is 6282.