News: Building on Generosity
Existing Apartments Become CommonBond Communities
In August 2016, CommonBond acquired its first unsubsidized property — 112 rental apartments and townhomes located just south of the Minneapolis/St. Paul metropolitan area.
Through its Housing Opportunity Fund, CommonBond Communities provides investors — specifically people who are interested in making a social impact — with an opportunity to respond to the need for acquiring and preserving multifamily rental housing that is both affordable to moderate-income families and seniors and beneficial to their communities.
We hope to acquire approximately 500 housing units in the next three years and maintain the affordability of these units for people who cannot afford market rents. We are seeking investors to provide debt for this and CommonBond’s other preservation projects that feature both social impact and financial return. Investments will create a social return to the community by providing modest income households with predictably affordable housing, despite the competitive rental market and waning public resources. Participation in the Fund will also bring a modest financial return on the investment, and the return of the investment at maturity.