NCST (National Community Stabilization Trust)

I had a great time at this year’s Opportunity Finance Network Annual Conference in Los Angeles. The NCST team met with partners, funders, and other Community Development Financial Institutions (CDFIs) who reportedly set a new conference attendance record. We left with a renewed commitment to grow our mission-driven finance work to increase the supply of affordable, single family homes for purchase. Hats off to the OFN conference planners for an energizing convening! #OFN40

At the Black and Latino Economic Summit held in Tampa, Florida this past August, our President, Christopher J. Tyson, announced our soon-to-launch Black and Latino Middle Neighborhoods Heirs Property Partnership. The program will work with three community nonprofits in Atlanta, Birmingham, and Baltimore to train community development professionals on heirs property and it’s relationship to homeownership preservation and neighborhood stabilization. The program will also support the design and implementation of local projects that build up the capacity of community development organizations to craft measurable and impactful interventions to address heirs property issues. Stay tuned for an announcement of our partner agencies and program participants.

Be sure to check out our President, Christopher J. Tyson, at tomorrow's Urban Institute conversation on sustainable homeownership and wealth preservation for communities of color. See below for registration information and be sure to spread the word.

Attending the 2024 Reclaiming Vacant Properties conference in St. Louis later this week? You won’t want to miss “Preserving Middle Neighborhoods for Future Generations” including members of the Middle Neighborhoods Steering Committee: Tom Goddeeris— Detroit Future City; Tiffany S.— Heartland Next and Mansueto Institute for Urban Innovation, University of Chicago; and Kimberly Smith Drake, MPA— University of Washington Medical Center Redevelopment Corporation. The panel will also feature Kristopher Hoff and be moderated by Christopher J. Tyson of NCST. The session explores shifts and movement of Middle Neighborhoods over the past 50 years. Local practitioners will discuss tactics and policy approaches to stabilize all three communities. See you there on Friday morning (October 11th at 8:30am)!

Attending the 2024 Reclaiming Vacant Properties conference in St. Louis later this week? You won’t want to miss “Preserving Middle Neighborhoods for Future Generations” including members of the Middle Neighborhoods Steering Committee: Tom Goddeeris— Detroit Future City; Tiffany S.— Heartland Next and Mansueto Institute for Urban Innovation, University of Chicago; and Kimberly Smith Drake, MPA— University of Washington Medical Center Redevelopment Corporation. The panel will also feature Kristopher Hoff and be moderated by Christopher J. Tyson of NCST (National Community Stabilization Trust). The session explores shifts and movement of Middle Neighborhoods over the past 50 years. Local practitioners will discuss tactics and policy approaches to stabilize all three communities. See you there on Friday morning (October 11th at 8:30am)!

Last week our President, Christopher J. Tyson, had the opportunity to participate in a housing policy forum sponsored by JPMorganChase and Enterprise Community Partners at JPMC's Washington, DC offices. Christopher joined Priya Jayachandran and Mark McCann on a panel entitled "Financing Innovations to Boost Supply" moderated by Vincent Toye. Thanks to JPMC and Enterprise for including NCST in this very important and necessary discussion.

The 2024 Symposium will be a hybrid in-person and virtual event held on Tuesday, November 19th at The Urban Institute, 500 L'Enfant Plaza SW, Washington, DC, with a livestream available through Zoom. This year's theme— Homeownership, Federal Policy, and the Next Four Years— will offer informative and robust discussions on the federal policy landscape for homeownership following the 2024 general election. Throughout the day, experts from across the housing field, national advocacy partners, and local practitioners will be on hand for conversations on heirs' property, manufactured housing, and federal policy post-election. NCST is excited to announce our Keynote Speaker, Mayor Cherelle Parker of the City of Philadelphia! Registration is now open. The event is free to all participants. The day will begin with breakfast and end with an evening reception. We look forward to seeing you all on November 19th! Register Here:https://lnkd.in/eXRNXHuC

Last week NCST launched our Acquisition Bridge Fund in Detroit. Our new program helps aspiring homeowners compete with cash buyers and private investors when purchasing a home up to a value of $250,000. Buyers utilizing down payment assistance, special purpose credit programs, and other homebuying supports often cannot close as quickly as investor buyers. With the record low inventory of affordable homes for purchase, owner-occupant purchasers need a level playing field to compete. The Acquisition Bridge Fund will restore balance to the homebuying market, helping expand affordable homeownership in ways that stabilize neighborhoods and close the racial wealth gap. This initiative is made possible through the generosity of the Wells Fargo Foundation and the Rocket Community Fund and in partnership with our local Detroit-based partners. Attached are a few captures from our launch event at TechTown Detroit.

I was thrilled to meet the Director of the United States Census Bureau, Santos, Rob at #FHC24 this afternoon. The housing and community data resources provided by the Census are key to our ongoing Middle Neighborhoods research.

Combined with the shortage in housing unit production, the growing dominance of private equity investors like Blackstone in the single-family housing market is contributing to increasing rents and home prices. In this article, Christopher J. Tyson, President of the NCST (National Community Stabilization Trust) proposes how nonprofit housing organizations and investors can work together to increase the availability of affordable homes, in addition to supporting important legislation like the Neighborhood Homes Investment Act. https://lnkd.in/g3WqiJ_G