for Land Acquisition and Related Costs

 

The Hope Community Opportunity Fund, created by the pioneering and visionary leadership of the Phillips Family Foundation is an extraordinary tool for change, supporting land acquisition for affordable housing and public spaces for families in a highly competitive development environment. As a critical part of this initiative, Hope will raise $850,000 to add to the original $500,000 Phillips gift, creating a $1,350,000 Opportunity Fund.

 

How the Opportunity Fund Has
Been Used:

Hope Community’s successful fund for strategic land acquisition leverages opportunities far beyond the initial investment.

 

1. Because of “ready access” to cash, Hope gained important site control of the Southwest corner of the Franklin-Portland Gateway. 

    

2. When another critical property adjacent to the Hope Campus was placed on the market, Hope leveraged a $99,000 Opportunity Fund investment with  $75,000 of private investment. The result: a key property in the area will remain affordable to people who live in our neighborhood. 

    

3. When six private investors sought partnerships with Hope on real estate purchases, Hope had the funds to match the private investment and maintain the controlling shares of what became the Children’s Village LLC. The LLC now owns one of the key properties in the Gateway area.

    

4. Because of Hope’s Opportunity Fund, we have gained a reputation for “fast action” and three excellent properties were purchased before they reached the open market. With this kind of leverage we are able to maintain affordability and diversity in our neighborhood.