Keeping Affordable Housing Affordable and Raising Capital as an Emerging Manager
Join us for the ninth edition of the Impact for Breakfast SF Chapter. We'll discuss affordable housing and emerging managers with Good Trouble Partners - a mission driven real estate company.
Keeping Affordable Housing Affordable
and Raising Capital as an Emerging Manager
Tuesday, February 23, 2020
9:00am-10:30am PST / 12:00pm-1:30pm EST / 5pm-6:30pm GMT
Affordable housing is a serious issue for the Bay Area. The middle class in America (as in most developed countries) is shrinking. The racial wealth gap has been steadily increasing. Tent cities along Bay Area freeways are lives lived in stark contrast to the immense wealth generated by Silicon Valley. Good Trouble Partners is looking to keep affordable housing affordable. Good Trouble is led by women and BIPOC entrepreneurs - Diane Olmstead and Monica Edwards. They are facing down two challenges - how to keep human dignity in lower income housing and how to raise capital as women and a person of color. They will discuss how they are affecting positive change through their work at Good Trouble Partners:
- Highlights of housing affordability crisis and what we can do about it
- How institutional real estate investment strategy has shaped the housing crisis
- Racial wealth gap and equity; how it impacts the built environment, the institutional investment world, and the entrepreneurial world.
Join us online!
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About our Featured Speakers:
Monica Edwards (Co-Founder of Good Trouble Partners)
Ms. Edwards has 30 years of experience in private equity and real estate finance. She is currently completing a fellowship with The Rockefeller Foundation, serving as Chief Opportunity Zone Officer for the City of Oakland. In this role, she determined that minority real estate developers continue to be shut out of the industry, and she worked with local Black real estate developers to advocate for better capital access. Ultimately, these developers form the Black Developers Forum, which is the first statewide advocacy group of its kind.
Ms. Edwards is the founder of structure finance consultancy, The Monarch Group. Her firm raised over $230 million in funding for small businesses and real estate development projects nationally totaling over $1 billion in total project cost.
Ms. Edwards was the President of BRIDGE Impact Capital, a non-profit community development financial institution.
Ms. Edwards, serial entrepreneur, formed her own community development entity, California Urban Investment Fund, which was awarded $20 million in New Markets Tax Credits (NMTCs) to co=invest with churches in South Los Angeles.
Ms. Edwards received her MBA from Clark Atlanta University. She earned a BA in Economics from Princeton University.
Diane Olmstead (Co-Founder of Good Trouble Partners)
Ms. Olmstead was President of Fillmore Capital Affordable Housing (FCAH) where she acquired multi-family and work force housing in the US. Ms. Olmstead was Chief Investment Officer of BRIDGE Housing, a non-profit developer of affordable housing. Ms. Olmstead served on the Board of Mercy Housing California which is the largest national non-profit developer/operator of affordable housing.
Ms. Olmstead currently serves on the Board of Directors for Extra Space Storage, as well as on the Board of Scioto, an institutionally owned, social impact housing company focused on group homes for developmentally disabled adults.
Ms. Olmstead received an MBA from Pepperdine University.