The Client:
The Merancas Foundation
THE OPPORTUNITY
Based in Charlotte, North Carolina, The Merancas Foundation is a private foundation guided by the belief that anyone who works hard should be able to make a decent living. The foundation invests in local nonprofits that support those in crisis, provides pathways for adults to achieve self-sufficiency, and helps children reach their highest potential.
Without prior experience in housing, they needed someone to guide their new housing investment strategy. Give Impact was selected to help The Merancas Foundation acquire land in high-opportunity areas and deploy to qualifying development partners to enable the development of equitable housing communities in the Charlotte MSA.
How We Served
Created a strategic impact plan for capital deployment
Developed a site-scoring tool
Assembled advisory board and legal team
Provided site evaluation and due diligence oversight
Assisted with requests for interest/proposals
Negotiated MOU/gift agreement(s)
Supported Deed Restriction framework
Provided rezoning support
Participated in bi-weekly Steering Committee and quarterly Advisory Board meetings
THE IMPACT
Give Impact helped the foundation establish a framework, assemble an advisory committee, and select qualified development teams to deliver Equitable Housing Communities. We were given the goal of deploying capital to buy key land sites across the Charlotte MSA that otherwise would be sold to market-rate buyers. Since the program launched in May 2022, Give Impact has deployed about a quarter of the allocated funds and purchased 90 acres across the city across several sites: Pineville (51 acres), Hutchinson (10 acres), Raintree (10 acres), and Grier and Harris (19 acres). Combined these sites are staged to deliver up to 270 units of affordable housing in the near future.
In Their Words
Kudos to the team at Give Impact. For the past year and a half we have relied on both their insight and guidance to launch an affordable housing land bank. Thank you to Liz and Maya for moving us forward to helping those in need of affordable housing.
— Andy Mermans, President & Chairman, The Merancas Foundation
