Front Porch Investments was created in 2021, to serve as an intermediary seeking and supporting solutions to house our community, with a focus on four key areas:
- affordable housing development
- housing justice and racial equity
- ending homelessness, and
- advocacy, policy & organizing.
Front Porch Investments’ primary goal is to increase funding, innovation, and strategic partnerships in support of affordable housing across the Greater Omaha metro area. The organization leverages public-private partnerships to collaborate across stakeholders and strengthen the urban housing ecosystem.
Our organization was thoughtfully created and launched as a response to the demand for strategic investment and coordinated leadership in the areas of affordable housing and homelessness prevention. Our primary purpose is to increase investments, innovation, and strategic partnerships across the greater metro area. Our initial focus will be on the implementation of the strategic framework and solutions identified in the Assessment of Housing Affordability, Needs, & Priorities report.
We are building on the exemplary housing developments, organizations, and individuals tasked with these challenges in the past, while harnessing today’s momentum and incredible talent, to create a more robust, holistic, and lasting approach.
In Spring 2022, Front Porch Investments made a pilot round of loans and grants, investing $7.3 million to support affordable housing development and preservation projects and programming. The larger Development and Preservation Fund launched in August 2022 to scale the preservation and development of affordable housing through a combination of revolving loans and catalytic grants. The Development and Preservation Fund will award loans and grants three times each year, with each round focused on key strategic priorities.
The August 2022 cycle launched in partnership with the City of Omaha with $20 million in American Rescue Plan Act (ARPA) funds, and a $20 million match in private funding secured by Front Porch Investments. These funds will focus primarily on short term, 18–24-month loans, with funds also available for housing-supportive nonprofit programming grants.
In Summer 2023, a Greenlining Fund was launched to provide financial support for homeownership and housing stability in areas of historical disinvestment.