August 25th-OAKLAND, CA
Merritt is investing in affordable housing and people to build a stronger California where everyone has a home in a community where they can thrive.
In 2021, Merritt undertook a new strategic planning process and built on our strengths (working with mission-aligned developers, an industry-leading portfolio, history of meeting investor target returns, and a dedicated and expert team) while recognizing that we must reshape our efforts to meet the changing needs across California. We are innovating to effect change within the industry’s systems, namely by growing the capacity of the affordable housing industry and creating opportunities for greater equity and diversity.
With the closing of Fund XXII, Merritt surpassed $1 billion in affordable housing investment. We created and preserved over 10,000 homes across California. Of that total investment, 20% came from the previous 3 years alone and our new strategic plan puts us on track to reach $2 billion in the next 3 to 5 years.
As our investments grow, so do our resources to support the people at the heart of creating affordable housing in California. Merritt’s new strategic vision dedicates significant resources – funding and time – to fostering the next generation of affordable housing leaders.
At the beginning of 2022, we launched our Commitment to California, a promise to contribute $2.5 million over the next three years to educate, train, and support over 800 professionals via scholarships, internships, career development, and innovative engagement. We are developing and supporting programs that make space for diverse leaders and strive to create equity throughout the industry.
Thank you to our investors, project partners, developers, and advocates old and new. We look forward to deepening and expanding our partnerships as we work together to solve the housing crises in California
Learn more about our Annual Report and download the full report here: 2021 Annual Report – Merritt Community Capital Corporation (merrittcap.org)
About Merritt Community Capital Corporation
Merritt Community Capital Corporation is a nonprofit dedicated to our mission to provide equity capital for affordable housing exclusively to California. We do this by partnering with mission-aligned affordable housing developers throughout the state to ensure the most critical communities are developed and maintained for low-income residents. Since 1989, Merritt has created and/or preserved 11,000 affordable homes, through investing over $1.2 billion in 26 separate funds, providing housing for over 29,700 people.