Healthcare Georgia Foundation is pleased to announce Carver State Bank as a recipient of the Foundation’s recent Strategic Health Impact Investment funding in the amount of $100,000. Since 2019, the Foundation has worked to identify organizations that are addressing the social determinants of health in a wide variety of ways, and has actively pursued Program Related Investments (PRIs) targeted towards the “causes of the causes” with very encouraging results. With a strong commitment towards diversity, equity, and inclusion, Carver State Bank is an ideal partner for Healthcare Georgia Foundation’s Strategic Health Impact Investment efforts.

Founded in 1927 in Savannah, Georgia, Carver State Bank is one of only 18 Black-owned banks in the United States. As a Treasury-certified Community Development Financial Institution (CDFI), Carver’s mission to provide underserved communities with the building blocks to financial freedom is directly related to Healthcare Georgia’s goal of addressing the social determinants of health disparities. Carver will use the funding provided by Healthcare Georgia’s investment to make new loans for small businesses and affordable housing in our community.

President of Healthcare Georgia Foundation, Dr. Gary Nelson, commented on Carver State Bank’s award, “The Foundation is thrilled for this partnership opportunity with Carver State Bank, and we have been greatly impressed over the years as we’ve observed their tireless efforts toward enriching the greater Savannah-Chatham community.” Dr. Nelson continued, “We are looking forward to the fruits of this effort joined with Carver State Bank, and we are excited to see the impact that will be created.”

“As a mission-driven financial institution, Carver is proud to work with Healthcare Georgia Foundation in their continued and innovative efforts to address inequalities in health outcomes.” said Robert James, President of Carver State Bank. “Their investments have a tangible impact on small business and job growth in our community, and we look forward to this continued partnership.”

With this recent award to Carver State Bank, Healthcare Georgia Foundation will exceed $1.1 million in Strategic Health Impact Investments geared towards addressing the Social Determinants of Health.


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About Healthcare Georgia Foundation

Healthcare Georgia Foundation is a statewide, charitable organization with a vision of health equity in Georgia where all people attain their fullest potential for health and well-being. Through strategic grantmaking, our mission is to enable, improve, and advance the health and well-being of all Georgians. For more information, visit 

About Carver State Bank

Carver State Bank is a member of the National Bankers Association and Georgia Bankers Association. Carver is the only bank headquartered in Savannah that is certified by the United States Treasury Department as a Community Development Financial Institution (CDFI) and is currently one of only 18 African- American-owned commercial banks in the United States. Carver’s mission is to provide our community with the building blocks to financial freedom. As the only bank in Savannah headquartered in one of the area’s five low-income census tracts, the bank highlights the need to improve the lives of low-income individuals and residents of distressed communities.


For Healthcare Georgia Foundation

CONTACT: Rachael Dempsey

Email: [email protected]

Phone: 404.653.0990


For Carver State Bank

CONTACT: Rachelle Gregory

Email[email protected]

Phone: 310.621.5349

The Foundation is working with the ANDP Loan Fund to address health and housing disparities across Georgia 

Healthcare Georgia Foundation has made a $250,000 program-related investment in the ANDP Loan Fund to expand access to quality, healthy affordable housing — benefiting persons of color, low-income households, seniors, and other vulnerable groups across metropolitan Atlanta and Georgia. ANDP develops, finances and advocates for affordable housing at scale that promotes racial equity and healthy communities where families thrive.

“Healthcare Georgia Foundation is pleased to partner with ANDP in this investment that will address one of the key social determinants of health (housing) in such a strategic and impactful way,” said Foundation President, Dr. Gary Nelson. He continued, “ANDP has proven time and again their commitment towards equitably advancing metro Atlanta’s affordable housing options, and their unwavering desire to improve the lives of Georgia’s residents.”

The Foundation’s vision is “health equity across Georgia”, where all people attain their fullest potential for health and well-being. Healthcare Georgia Foundation looks to address health disparities, expand access to affordable, high-quality, and integrated services, promote health and prevent disease, and strengthen health nonprofit organizations, programs, and workforces. 

Investments like the funding for ANDP are made to financial intermediaries serving communities across Georgia that are certified Community Development Financial Institutions (CDFIs), and as such, have a primary mission of providing financial products and services to low-wealth communities.

Healthcare Georgia Foundation’s low cost capital funding will be leveraged by ANDP to help finance over 1,500 units of affordable housing, and provide more than 500 future homebuyers with down payment assistance (DPA) loans over the next five years. The majority of ANDP’s lending will benefit minority households and households earning 80% of Area Median Income (AMI) or less. ANDP’s efforts will play a critical role in addressing systemic housing disparities that compound health inequities among communities of color and low-income populations. 

“Safe, affordable housing is a paramount social determinant of health. We seek to address health inequities by financing quality, affordable housing that provides a platform of stability for people to thrive,” says ANDP President & CEO, John O’Callaghan. “Funds and capital provided by community health leaders like the Healthcare Georgia Foundation empower us to provide safer, healthier affordable housing options for our communities.” 

The ANDP Loan Fund is U.S. Treasury certified and provides much needed capital to metro Atlanta’s nonprofit and for-profit developers of affordable housing and other facilities. ALF’s financing has resulted in the renovation of over 750 formerly vacant homes since 2008, financing 6,107 housing units since inception, lending $51.3 million to projects valued at $510 million, and serving 90% of families at 80% AMI or less.  In the past three years, ANDP has more than doubled its Loan Fund’s portfolio, grown its total assets by 36% (now $10.2 million), and deployed over $10 million to multi-family, single-family, and community facilities developers in metro Atlanta.

Since 2019, Healthcare Georgia Foundation’s Strategic Health Impact Investment funding efforts have sought to identify and create partnerships with Community Development Financial Institutions who are working to address the social determinants of health. The Foundation looks forward to achieving impactful outcomes of this partnership with ANDP, an applauds their proven track record towards addressing disparities in housing.




ABOUT HEALTHCARE GEORGIA FOUNDATION: Healthcare Georgia Foundation is a statewide, charitable organization with a vision of health equity in Georgia where all people attain their fullest potential for health and well-being. Through strategic grantmaking, our mission is to enable, improve, and advance the health and well-being of all Georgians. For more information, visit

ABOUT ANDP: A chartered member of NeighborWorks, Atlanta Neighborhood Development Partnership is a nonprofit organization that develops, finances and advocates for affordable housing at a scale that promotes racial equity and healthy communities where families thrive. Now in its 30th year, the organization aims to further reduce the Black homeownership gap and increase access to affordable rentals with its “Closing the Gap: 2,000 units by 2025” campaign. Connect at



Contact: George Burgan
678-358-4427, [email protected]

For Healthcare Georgia Foundation

Contact: Rachael Dempsey
Phone: 404.653.0990, [email protected]

Announcing the Community Guarantee Pool, powered by the GoATL Fund


ATLANTA – June 8, 2021 – At a time of heightened need across the region, the GoATL Fund (GoATL), an initiative of the Community Foundation for Greater Atlanta, has launched an innovative program for nonprofits to accelerate access to federal stimulus and other public contract funding. In collaboration with local Community Development Financial Institutions (CDFIs) and private and family foundations, the Community Guarantee Pool (CGP) provides credit enhancements that free up capital for nonprofits, thus infusing dollars for critical services including rapid rehousing, rental assistance and mental health counseling. 

GoATL’s CGP is a pooled fund used to support multiple guarantees that allow nonprofits to more rapidly receive federal funding, which dramatically improves their ability to provide critical community services. “The CGP is the first of its kind in our region, and as it takes hold it has the potential to unlock up to $20 million in public subsidies that would otherwise go unused,” said Mark Crosswell, managing director of social impact strategies at the Community Foundation for Greater Atlanta. “Providing this service to our nonprofits across the region helps fulfill our commitment to advance racial equity while driving systems change at the local level.” 

CGP has launched with an initial $1 million in capital that will be used to issue guarantees to CDFIs in order for them to free up loan capital for nonprofits in metro Atlanta. The GoATL Fund will work closely with nonprofits and CDFIs to identify opportunities to improve the flow of federal funding to communities in need. For example, Project Community Connections, Inc. (PCCI), a nonprofit that implements solutions to permanently rehouse people experiencing homelessness into appropriate, affordable homes as efficiently as possible – often within 30 days – has recently taken on a $7.7 million government contract to support the transition of 450 families out of homelessness. In partnership with Reinvestment Fund and GoATL, the CGP will improve PCCI’s ability to perform on this contract. 

The CGP targets nonprofits that rely on substantial federal subsidies, including the funding made available through the American Recovery Plan. These federal funding subsidies are typically administered by local municipalities, which routinely experience administrative delays in making payments to nonprofits, causing severe cash flow shortages and hindering nonprofits’ administration of vital services. Also, for many government programs, the nonprofit must provide services (fronting all costs), then submit for funding reimbursement. The COVID-19 pandemic has exacerbated these issues due to an incredible surge in demand for nonprofit support. 

“The pandemic has caused thousands of metro area families to face homelessness or the threat of eviction, with thousands more experiencing unemployment. Demand for mental health services, quality food and rental assistance has outstripped supply. Our local nonprofits are ready to serve these families, but when the public subsidies are unduly delayed, they can’t fulfill their contracts to meet community needs. The Community Guarantee Pool was created to streamline the process, helping our nonprofits deliver while providing time for the government to provide the funding,” said Crosswell. “Alongside five CDFIs and several local foundations, we have structured this unique pilot to solve the problem through bridge funding. Along with hopes that our public partners respond by improving their processes to ensure that funding is flowing to where it’s most needed, we expect to see more sustainable funding soon.” 

Since 2018, the GoATL Fund has invested $12.25 million in local initiatives that seek to generate measurable social outcomes along with financial returns. GoATL’s investments are structured as flexible, cost-effective debt that provide impact investors a modest return while achieving social outcomes in affordable housing, job creation, education and well-being. 

The GoATL Fund invests in initiatives that address racial inequities including access to healthcare, affordable housing, economic inclusion and education. To create efficiencies and leverage even more capital, GoATL often collaborates with intermediaries like CDFIs that have the knowledge and expertise to structure larger investments to support solutions addressing critical needs across our region. 

“Many of the organizations providing services such as emergency shelter and mental health counseling are facing operating challenges during the pandemic, with increased costs and decreased revenues,” said Christina Szczepanski, managing director, southeast for Reinvestment Fund, a CDFI that brings financial and analytical solutions to community challenges. “Having the Community Guarantee Pool provide credit enhancements helps moderate risk as we make working capital loans to nonprofits providing these essential services.”

“When awarded 70% of the City of Atlanta’s CARES COVID-19 Emergency Solutions Grant (ESG) funding in November 2020, PCCI did not have the cash on hand to execute the contract,” said Margaret Schuelke, co-CEO for PCCI. “PCCI is glad to be the first nonprofit benefiting from the Community Guarantee Pool. We hope other nonprofits are able to take advantage of the program and alleviate their financial concerns.” 

Participating CDFIs include Access to Capital for Entrepreneurs (ACE), Atlanta Neighborhood Development Partnership (ANDP), Enterprise Community Partners, LISC Atlanta and Reinvestment Fund. Alongside the Community Foundation for Greater Atlanta, the Wilbur and Hilda Glenn Family Foundation and The J.B. Fuqua Foundation have made commitments to the CGP. If any other foundations are interested in supporting this effort, please contact Mark Crosswell.


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About the Community Foundation for Greater Atlanta

Since 1951, the Community Foundation for Greater Atlanta has been leading and inspiring philanthropy to increase the vitality of our region and the well-being of all residents. With 70 years serving the Atlanta region and a robust team of experts, the Community Foundation expands its philanthropic reach and impact by providing quality services to donors and bold, innovative community leadership committed to racial equity. The Community Foundation is a top-20 community foundation among 800 nationally, with approximately $1.2 billion in current assets, and is Georgia’s second largest foundation. Launched in 2018, the GoATL Fund provides innovative and flexible capital designed to scale and sustain social solutions of critical importance to our community. Started with an initial allocation of $10 million from the Community Foundation, the GoATL Fund is now open to receive new capital from the Community Foundation’s donor community. For more information, visit: GoATL Fund, or connect with the Foundation via Facebook, LinkedIn and Twitter.

About Project Community Connections, Inc.

PCCI is dedicated to permanently rehousing individuals and families experience homelessness to a decent, affordable place to live. They operate as a team of interdependent professionals dedicated to ending homelessness in the community. PCCI provides services that promote personal and economic self-sufficiency to assist their clients to become self-sufficient so they can remain stably housed and thrive in all aspects of their lives. To promote self-sufficiency, PCCI offers workforce development classes with the goal for their clients to secure full-time or part-time employment. PCCI’s reputation for delivering quality rapid rehousing services is earned through hard work, consistency and program performance. The quality, innovation and efficiency of their work has been recognized locally, statewide and nationally.

About Reinvestment Fund

Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that everyone has access to essential opportunities: affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong, local businesses that support jobs. We use data to understand markets, communities, and impediments to opportunity—and how investment and policy decisions can have the most powerful impact. Since our inception in 1985, Reinvestment Fund has provided over $2.4 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities. Learn more at

Media Contact:

Elyse Hammett, 404.376.5563

[email protected]

By: Josh Young, Chief of Staff


We are not what people expect. Since our founding, we have operated a different type of nonprofit. Homelessness continues to increase around the world, which must stop. Making lasting progress requires fresh, creative solutions. The status quo is not enough.

At each step, we continue learning from the best minds throughout the business world. Y-Combinator, the most successful startup accelerator, chose us for their program. Their mindset, experience, and excellence remain ingrained in our company’s DNA. From our operations to financial investments, we align around a single focus: make a positive impact on the world’s most vulnerable. Everyone deserves a safe home.



There’s a lot of distrust in the nonprofit world because of the way some have misused funds. So, we did something different to rebuild that trust with donors. Today, donors want to know exactly where their money is going, so that’s exactly what we deliver.

We provide 100% transparency to everyone who donates and ensure that ALL donations to homebuilding go directly to providing a home for a family in need of shelter.

Our 100% guarantee is made possible by a private group of generous, visionary donors who completely cover our operating expenses. We call this group The Builders. This model enables us to take calculated risks on innovative projects without sacrificing our ability to provide homes for families living in survival mode. 

We have funded 26 communities with philanthropy, impacting over 2,200 families with homes in Haiti, El Salvador, Mexico, and the US. To reach exponentially more people, we have decided to take on flexible debt in the form of Impact Notes.


Impact Notes

Even though the families we serve live in extreme poverty, we’ve learned that a model where families pay an affordable price to own their home works best. That’s why we’ve developed a strategy to provide low-interest loans to families who need them. 

Families have the means to pay back a loan; there is a combination of reasons they can’t obtain one from banks in places like Mexico. 

  • Predatory lenders in the market of Mexico target & exploit families. 
  • Decades of being taken advantage of caused a general distrust of financial institutions, so families refuse to use traditional financial institutions. 
  • Families rely on informal/cash-based income causing banks to deny loans altogether or charge unaffordable interest rates.

The Impact Notes are an innovative, flexible debt instrument for investors who want to maximize impact and preserve capital. Using it as a tool, we can offer a lower interest rate to families at a longer-term length, allowing low-income families to afford housing.

Currently, we build homes for less than $10k each. We will provide 50% as a micro-loan to be paid back, 40% comes from New Story philanthropy, and the family who will live in the home puts 10% as a down payment. This structure allows us to secure housing for more families who need it.


Investing in Research & Development

Global construction is one of the world’s largest markets, yet it’s one of the least digitized sectors, second only to farming. We realized that our mission would require us to attract top talent, invest in innovative technology, and raise additional capital for the affordable housing space.

A natural progression of our R&D program, we started Hometeam Ventures. Hometeam invests in early-stage founders who are creating breakthrough technology for the construction and housing space with the hope that these startups will help us create more safe housing globally.

Hometeam’s investments focus on double-bottom line startups that: 

  • Reduce the cost of housing.
  • Increase the speed of construction.
  • Improve the quality across the construction value chain. 

A non-profit built the world’s first 3D-printed community (you can watch a documentary on this on Apple TV+) because of our investment in ICON—a construction technology company. By being an investor, we are able to bring better quality technology, creativity, and innovation to those who need it most. 

Our team at New Story is thrilled to see what the future will bring as we work to steward capital well. By offering complete transparency to our donors, growing access to micro-loans, and putting a big emphasis on research and development, we hope that we will be able to house 1M people before 2030. Will you join us?

By: Brent Hobson, Project Manager at Cherry Street Energy


Where do you see yourself in 14 years? How about 29? Weird timelines, I know, but I ask because 2035 and 2050 are fairly significant dates. Organizations across the globe are making commitments to transition to a brighter energy future that is more sustainable, resilient, and economical using these timelines.

The City of Atlanta committed to the bold vision of 100% renewable energy by 2035 and the state has proposed a goal of doing the same by 2050. Many of Georgia’s largest businesses and universities have announced similar commitments and timelines. 

Meeting these goals will be difficult, complex and expensive. That’s why I work with the brightest people who are hellbent on solving these impossible challenges. We designed Cherry Street Energy to overcome the key barriers for cities, businesses and institutions to make the transition to renewable energy. We make it simple, affordable, and scalable. 

So, what does Georgia’s transition to renewable energy look like? We believe that catalytic leaders will inspire others to take action. We work with institutional, business and community leaders to help them envision their energy futures and design the path to get there. We focus on powering Georgia’s largest energy users.

We designed an easy-to-adopt enterprise scale platform that removes the financial and operational barriers to future-ready energy systems. We take on the expenses and complexities while our customers pay only for the energy that is produced. We’re working to help guide our state’s transition toward reliable, renewable energy.

The City of Atlanta and Fulton County have been incredible partners and so far, we’ve powered recreation centers, fire stations and libraries all over the city. 

At Emory University, we’re building massive solar parking canopies and are planning for installations at their Midtown hospital facilities. 

Molson Coors featured Athens’ Terrapin Brewery in their annual sustainability report as a leader among their breweries, highlighting our 2019 solar installation at their facility.

But it’s more than solar. We’re working hand-in-hand with all of our partners to put their goals into action. The road to a brighter future is being paved in Georgia and the process is replicable. As more leaders begin this inevitable shift, it becomes easier to visualize that future. 

So, Georgia, where do we see ourselves in 14 to 29 years? Because I see us holding up our end of the bargain. I see us as leaders. I see us working together to create a future that the next generation deserves. I see us shining bright enough to power a whole state. 

Our transition to renewable energy requires the bright thinker in each of us.

ATLANTA – May 24, 2021 – Illuminarium Experiences, a new breakthrough global experiential entertainment company, announced today that tickets for its first Illuminarium in Atlanta, opening July 1, 2021, are now on sale at Tickets for WILD: A Safari Experience, a first-of-its-kind entertainment experience showcasing the beauty and splendor of Africa’s most exotic animals in their natural habitats, start at $30 for kids and $35 for adults, with premium packages available.

WILD will transport visitors to Africa through cinematic content shot by Radical Media, using custom camera arrays that provide a 240-degree native field of view (versus the average 210-degree human field of view), on location to showcase majestic animals in their native habitats across South Africa, Botswana, Kenya and Tanzania. Complementing the exotic sights of a safari, visitors will also be immersed in its authentic sounds and scents, all without leaving Atlanta’s BeltLine.

Illuminarium’s immersive venues will transport millions of visitors to places they only dream of experiencing by placing them “inside” the narrative with techniques used in traditional motion picture production and virtual reality that facilitate the experience of real world, filmed content (like a safari) and authentic, re-created worlds in an immersive environment, all without wearable hardware. 

During the evening, Thursday-Saturday, Illuminarium will transform into a dynamic bar that features an immersive generative environment, allowing guests to have cocktails and curated eats surrounded by an ever-changing lush and stunning atmosphere. Through state-of-the-art projection and audio systems, guests will be invited to gather in a different far-flung and fantastic setting.

Visitors can also experience The Illuminarium Café, offering both indoor seating and an outdoor patio facing the BeltLine. The café will be an extension of the immersive experience content, serving authentic dishes, beer, and wine from the African continent, along with local southern favorites. The Illuminarium Shop will retail a wide variety of gifts inspired by the safari experience. Along with souvenirs like eco-friendly plush toys and items with a specific conservation give-back, the shop will carry unique items such as woven baskets, beaded jewelry, and hand-carved wooden decor sourced from artisan networks in Kenya, Tanzania, and South Africa. Both the café and shop are open to the public and do not require paid admission to the attraction.

Following Atlanta, Illuminarium will open in Las Vegas at AREA 15 in January 2022 and in Miami, at Mana in the Wynwood Arts District, in fall 2022. Other North American locations under consideration are New York City, Chicago, Toronto, Montreal, Los Angeles and Austin.  

Illuminarium will design and operate each spectacle in an environmentally conscious manner that acknowledges its social impact. For WILD, Illuminarium partnered with global conservation organization, WildArk, to work collaboratively with local partners and communities to protect prioritized wildlife, biodiversity and ecosystems around the world. Illuminarium will donate a portion of all ticket and merchandising revenue annually to WildArk. Through this strategic partnership, WildArk targets this funding, as well as additional donations made at Illuminarium, to aligned conservation partners working to protect prioritized wildlife and their habitats across Africa. Illuminarium will also provide opportunities for customers to become personally engaged with WildArk and other mission-based partners they bring to the experience.


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About Illuminarium Experiences

Illuminarium Experiences is a breakthrough, global experiential entertainment company created by worldwide leaders in cinematic and interactive content, architectural and theatrical design and venue operations. Illuminarium Experiences are immersive entertainment spectacles presented in custom-designed venues called “Illuminariums.” What museums are to art, cinemas to movies and concert halls to music, Illuminariums are to experiential entertainment. Illuminariums are reprogrammable immersive theaters that surround visitors in a sensory space of sight, sound and scale unlike any other, providing access to the most amazing, but typically out-of-reach, places, people and experiences to make our planet a more inspired, more empathetic and more connected place. Created by Alan Greenberg, Radical Media and Rockwell Group, and operated by Legends, Illuminarium Experiences brings together best-in-class partners in content creation, theatrical design, interactive technologies and venue operations. Learn more at


Media Contact:

Julie Horn, DKC for Illuminarium

[email protected]



  • Entrepreneur Name: Kevin Mobolade 
  • Venture Name: Swipe Credit 
  • Impact Focus Area(s): Financial Inclusion 
  • Business Stage (Ideation, Startup, Early, Later, Mature): Early 
  • Year Venture Established: 2021 
  • Business Type: Enterprise Software as a Service 


Swipe Credit is a financial technology company that provides credit to more than 11 million underserved people in the US. We have made it easier to access financial services by using alternative data to increase access to credit for consumers and small businesses. Our innovative technology provides lenders with information based on actual consumer behavior. We identify customers who want lower payments and fees than existing services offer, then match them to the ideal financial product that matches their needs. 

According to Citigroup, closing the racial wealth wage gap 20 years ago might have provided an additional $2.7 trillion in income available for consumption and investment. Improving access to housing credit might have added an additional 770,000 homeowners over the last 20 years, with combined sales and expenditures adding another $218 billion to GDP over that time. 

Facilitating increased access to higher education (college, graduate, and vocational schools) for students might have bolstered lifetime incomes by $90 to $113 billion dollars.

Providing fair and equitable lending to entrepreneurs might have resulted in the creation of an additional $13 trillion in business revenue over the last 20 years. This could have been used for investments in labor, technology, capital equipment, and structures and 6.1 million jobs might have been created per year. 

At Swipe Credit, we’ve put together a team of engineers from Georgia Tech led by our CTO, who has a Ph.D. in computer engineering. We have developed an algorithmic mechanism and high-quality user onboarding and interfaces to combat this problem and unlock tens of billions of enterprise value in the process. 

As a first-generation American, my family and I personally have experienced the hardships involved in navigating the financial system and the pain that this brings in one’s day-to-day life. The American dream for most is to have a home, a car, and a job. In reality, most families struggle to achieve just those three things. Millions of people in our country don’t have access to credit. 

Swipe Credit’s mission is to support financially underserved individuals and families by providing them with access to financial resources. We do this by providing credit monitoring services, educational resources, and innovative products and services that help consumers achieve financial freedom without the added stress of credit scores. 

I leave with you with this quote from American radio speaker and author Earl Nightingale: ” We are at our very best, and we are happiest when we are fully engaged in work we enjoy on the journey toward the goal we’ve established for ourselves. It gives meaning to our time off and comfort to our sleep. It makes everything else in life so wonderful, so worthwhile.” As a country, as a people, it is time that we provide the least of us with the tools needed to help them do the work they enjoy and build the future they envision. We are made stronger, more secure, and happier as a community. It is time we make that dream a reality. 


Interested in learning more, please visit: 

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The American South Real Estate Fund is a lead investor in renovating the 20-unit garden style apartments into 40 studio apartments with attainable rents at 60% AMI

ATLANTA (April 2021) – Tenth Street Ventures along with partners Miles Alexander III at Alexander Goshen and Richard Taylor with ARRC Capital Partners have purchased 1200 Mobile St., a 20-unit, garden-style apartment complex in the Hunter Hills neighborhood just West of downtown Atlanta. Atlanta Affordable Housing Fund (AAHF) provided the senior loan for the project, while The American South Real Estate Fund (ASREF) provided equity.

The team plans to convert the property into 40 studio apartments, which will be fully furnished, all of which will be offered for attainable rents at 60 percent of Area Median Income (AMI). The team closed on the project April 19, 2021, and are using no subsidies to create this attainable housing. 

“We will be making people proud of where they live, incorporating a substantial amount of art and design into the apartment homes,” said Brian McCarthy, a principal at TSV. “Drastically reducing the costs of moving in and moving out through fully furnishing the homes, which is one of the hardest and most costly parts of moving. We are working to make comfortable high-quality living more attainable for our future tenants with our Affordable Lifestyle Living or A.L.L. Where lifestyle living isn’t just for those that can afford luxury living.”

Miles Alexander III, principal at Alexander Goshen, added, “We want to bring a creative edge to affordable living in the city of Atlanta. Through the use of art and design, we’re creating a new standard of affordable living.” 

ASREF Managing Partner Deborah La Franchi underscored, “We’re incredibly excited about this new partnership with Tenth Street Ventures. We hope it’s the first of many future efforts together. As an impact fund, we seek transformative outcomes for communities and people at the lower end of the income scale. The 40, high-quality housing units being financed are a great, innovative new model for creating housing at a cost that is attainable. This vacant, underutilized real estate asset is transitioning into a community asset that will serve and benefit the neighborhood while at the same time helping tackle the shortage of lower-cost housing in Atlanta.”

ASREF, a joint venture between Strategic Development Solutions and Vintage Realty Company, is an impact fund that seeks to finance projects that positively impact low-income and moderate-income communities in need of economic and community development. ASREF is focused on 10 states across the Southern U.S. and provides equity, preferred equity and mezzanine debt for third-party real estate developers. 

Built in 1960, 1200 Mobile St. consists of two apartment buildings totaling 11,848 square feet in Hunter Hills, a neighborhood that came to life in the 1940s and 1950s as one of the few planned Black communities of its time, attracting both blue- and white-collar home owners to its traditional cottages and ranch style houses. 

Future residents of 1200 Mobile will live on the planned Westside expansion of the Atlanta BeltLine, and will be close to MARTA’s West Lake station, nearby interstates, the Quarry Yards development and several planned parks.

Patty Brubaker from Keller Williams’ The Property Guys of Atlanta team was the realtor and Yakhin Israel from Twin Pillar Capital arranged the financing. 

Ashani O’Mard, executive director of AAHF, also a social impact fund, said, “We’re excited about how this team is bringing innovative solutions to Atlanta’s housing crisis.” 

AAHF’s mission is to raise and deploy $25 million in low-cost capital while generating a modest return to its investors. The fund offers a mix of debt and preferred equity to qualified developers and sponsors who are creating or preserving affordable housing that might not otherwise be developed. The fund has raised $13.1 million from foundations, organizations and individuals to date, of which about $6.5 million has been committed to nonprofit and mission-driven developers.  

Added Richard Taylor, managing partner of ARRC Capital Partners: “We’re absolutely thrilled to be a part of this project and to team with American South Real Estate Fund and Atlanta Affordable Housing Fund. Their values and dedication to building communities that are inclusive and affordable align completely with our own, and we look forward to the impact we can create on the Hunter Hills neighborhood.”

ARRC is a real estate investment firm focused on small- to mid-sized apartments in metro Atlanta, run by a native Atlantan uniquely positioned to understand and address the needs of burgeoning communities, employing a boots-on-the-ground approach to investing.




About Tenth St. Ventures

Tenth Street Ventures (TSV) is a full-service real estate group specializing in acquiring and enhancing intown real estate assets in highly desirable locations. Each investment is tailored to capture the unique energy of the surrounding neighborhood. TSV employs a two-pronged approach: First, to capitalize on up-and-coming submarkets in the path of development, and second, to breathe new life into established neighborhoods with imaginative, ahead-of-the-curve projects. The TSV team is a curated partnership of professionals, spanning a variety of industries, who share a common vision. The team’s background includes accounting, financial structuring, asset and property management, acquisitions and dispositions, deal structuring, development planning, construction management, brokerage, investor relations, architecture, design and marketing. The combined expertise and the team’s past success is the foundation on which future, successful ventures are built. For more information, visit 

Media Contact: Rachel Tobin, TobinInk., [email protected], (404) 276-5930

At the end of 2020, Crossing Capital Group, Inc. (CCG) established the The Oikos Institute for Social Impact (Oikos) to create mutually supportive ecosystems with seminaries and universities, foundations, government agencies and denominational judicatories for social impact. At their best, these ecosystems will be community-centered and will disrupt the cycle of exploitation of properties owned largely by  historically Black congregations. CCG will also coordinate opportunities for the local  deployment of impact capital, or investments made with the intent to yield a social or environmental return as well as a financial return. The two organizations share a mission to help faith communities harness the power of their assets in order to be a transformational force for community economic renewal and vitality.  

“Too many churches do not realize the assets in their midst,” said CCG and Oikos founder Rev. Dr. Sidney Williams. Our “Fishing Differently” approach helps congregations recognize and utilize the resources within their church and community, creating more vibrant congregations and positive impact in the under-resourced communities they serve.” The Oikos Executive  Director is Rev. Dr. Reginald Blount, an AME pastor and an Associate Professor at Garrett Evangelical Theological Seminary. “Learning communities are core to the process,” said Dr. Blount. “Together, participants discover and embrace their vocational identity and mission, and our partnerships provide the resources to help the congregations move their mission forward.”  

One such partner is Nonprofit Finance Fund (NFF), a 40-year old community development finance institution that promotes the success of nonprofits by providing capital and strategic consulting, as well as working to transform the funding and financing landscape. NFF shares CCG and Oikos’ goal of supporting the agency of Black communities, and recently committed  $5 million in investment capital and its consulting expertise to the initiative.  

“This work requires a thoughtful combination of community organizing and design thinking with  flexible impact investing,” said Antony Bugg-Levine, NFF CEO. “CCG and Oikos have pioneered a proven approach that guides faith communities through a process to reimagine what is possible, build a collective vision, harness financial knowledge, and access the financing they need to bring that vision into reality. The process honors the tradition and legacy embedded in these properties and enables the church communities to maintain agency in the use and development of their assets. NFF is excited to bring to this crucial work our ability to tailor investments to meet community need and to support community leaders to access the knowledge that can enable them to take control of their financial future.”  

The first supportive ecosystem will be launched in the first quarter of 2021 in partnership with The Interdenominational Theological Center (ITC) in Atlanta, Georgia. This partnership, entitled  “Thriving Prophetic Congregations: A Learning Journey with Black Congregations in the  Southeastern United States,” has been funded by a $1 million grant from the Lilly Endowment.  “ITC is excited to partner with Crossing Capital Group and the Oikos Institute to launch this impactful program,” said Matthew Wesley Williams, President of ITC. “The Thriving Prophetic Congregations initiative will help missional congregations reimagine their assets and ministries to facilitate flourishing in the communities they serve.”

Oikos is working to develop similar ecosystem initiatives across the country, with efforts under way in Chicago, Washington, DC, and Raleigh-Durham, NC. “We aim to help faith communities move from a place of survival and scarcity toward a spirit of imagination and abundance,” said  Oikos Institute Executive Director Dr. Blount. “By embracing their role as an anchor institution, and having access to the resources and capital to fully realize this role, churches can be a transformational force for economic renewal.” 


About Crossing Capital Group  

Crossing Capital Group (CCG) helps faith communities reimagine and steward their assets for the well-being of their community. CCG provides advisory services to equip communities with the vision, tools and multiple sources of capital required to plan, launch, and scale socially beneficial businesses and real estate development projects. 

About the Oikos Institute for Social Impact 

The Oikos Institute for Social Impact helps congregations harness the power of their assets in order to be a catalyst for communal transformation and economic renewal. Through strategic partnerships with seminaries, universities, foundations, government agencies and denominational judicatories, the Oikos Institute creates mutually supportive ecosystems that strengthen the Faith,  Intellectual, Social and Human Capital of congregations actively engaged in social impact and transformational work in the under-resourced communities they serve. 

About Nonprofit Finance Fund 

Nonprofit Finance Fund (NFF®) works toward a more equitable, responsive, and valued social sector. NFF provides financing and consulting to help nonprofits and their funders better connect money to mission results. They are a community development financial institution (CDFI) applying 40 years of experience to today’s toughest social challenges, and they share what they learn to speed progress. NFF manages over $335 million. Since 1980, they have provided more than $954 million in financing and access to additional capital in support of over $3 billion in projects for thousands of organizations nationwide. 

By: Rob Joy


The Turner MBA Impact Investing Network and Training (MIINT) is a hands on experiential lab designed to give students real world experience in impact investing. This is Georgia Tech’s first year participating in the nationwide competition, sponsored by the Wharton School at University of Pennsylvania. 

My team, consisting of myself, Sarah Harris, Youngtak Lee, Maren Herby, and Steve Staebler, created our own investment thesis, sourced seed stage startups that fit our thesis, then presented our top choice to the MIINT Investment Committee for the chance of a $50K investment from MIINT as an add on to their current seed round. We won the Georgia Tech round and will be competing nationally against other top MBA programs in April! 

We selected Healthy Hip Hop as our choice to present to the Investment Committee. Healthy Hip Hop aims to improve the learning environment for kids ages 4 to 12 by focusing on culturally relevant content that promotes physical health, classroom engagement, and educational achievement. With child-friendly lyrics, real hip hop beats, and the ability for kids to create their own content, Healthy Hip Hop is a mix between Spotify and TikTok for kids.

Working with founder Roy Scott has been great. His vision and passion for the company is amazing, and the business model is set up for both financial and impact success as Healthy Hip Hop grows. 

This was the first time I have done diligence on a startup. What was most challenging was quantifying the impact Healthy Hip Hop has on children, in addition to typical diligence on early stage startups for financial success. The MIINT gave me helpful tools such as Logic Models and the Impact Management Project (IMP) to help make impact assumptions. Healthy Hip Hop has also done a study with a healthcare company on the benefits of movement using the app and will be doing a pilot in the fall on Social Emotional Learning benefits. The most exciting thing I learned interviewing teachers is that the impact Healthy Hip Hop creates is truly the value proposition and key differentiator against competitive offerings. 

It is really cool to have an idea that improves people’s lives and only gets more impactful for all communities as the company scales. I really hope more companies and startups look for ways to make impact a core part of their business model. I look forward to Georgia Tech and the other great universities in Atlanta growing the social impact ecosystem by helping build the pipeline for future impact entrepreneurs and investors.