Truist Invests $17 Million in the Future of Charlotte and Communities Across North Carolina - Seite 2

The housing created by HIF I is more than 97% occupied, serves more than 2,000 residents and has 20-year affordability covenants that ensure their continued availability to those earning less than 80% of the area median income. HIF II will focus its investments on apartment communities that are vulnerable to gentrification. Like HIF I, HIF II will spend more than 90% of its renovation dollars with minority-led businesses.

"Protecting NOAH properties is an important and lower-cost way for growing cities to provide affordable housing to residents," said Mark Ethridge, principal at Ascent Housing, which oversees property acquisition, rehabilitation and operation for HIF I and II. "Without protection, NOAH apartments will not stay affordable, and we risk losing these units to redevelopment and pricing thousands of people out of the housing market. Truist and our fund investors are helping ensure safe, affordable housing options are available in these communities."

HIF II received support from a diverse group of investors with deep ties to Charlotte, including Truist, PNC Bank, Atrium Health, Honeywell, the Leon Levine Foundation and numerous other companies, foundations and individuals. Ascent Housing, under Ethridge's direction, will serve as operating partner for HIF II. Managing members of HIF II will be Schwab and Bowles, co-founders of Charlotte-based private equity firm Carousel Capital. Additional information about HIF I and II is available.

Truist Foundation grants build skills, help propel economic mobility across state

In an era where technology and digital prowess have become essential for many job opportunities, Truist Foundation announced two grants with a singular focus: forging pathways to economic mobility through technology-oriented training initiatives.

NPower, a nationwide tech training program spanning seven states, is venturing into North Carolina, marking its debut in Raleigh-a vibrant city within the Research Triangle community. This ambitious expansion seeks to attract, educate and empower at least 150 new learners over the course of the grant, and aims to hone their skills to master the art of information technology (IT) with the expectation of acquiring expertise equivalent to professionals with one to two years of experience. One of the goals of this initiative is for the impact to extend beyond the boundaries of learning, enabling these graduates to confidently embrace the digital economy and its myriad possibilities.

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