DO WELL. DO GOOD. DO MORE.™ | |
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Impact Outlook for 2025
Dennis Shea, Bipartisan Policy Center
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Multifamily Impact Framework™ Adopter
Bridge Investment Group Holdings Inc. (Bridge)
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Featured Members
Vistria Capital
Spira Equity Partners
Vessel Technologies
NASLEF
CBRE
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Letter from Bob
New Year, New Outlook
January 2025
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Happy New Year!
What’s exciting about January is it makes us approach everything with a fresh perspective and renewed energy. For us at MIC, this is particularly true when it comes to the impact we can have in the multifamily sector. At the beginning of a new year, we are filled with optimism about what is to come as we recognize everyone who cares about impact – including all our members – as agents for good.
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We are also focused on policy that affects our ability to create impact, especially with a new administration coming into the White House this month. In the Q&A below, we speak with Dennis Shea, who leads the J. Ronald Terwilliger Center for Housing Policy at the Bipartisan Policy Center, about key policy issues related to multifamily impact this year and what action items need to be on impact stakeholders’ to-do lists.
Creating affordable rental housing is an issue that must transcend partisan politics and come with a very simple success metric: Are we creating more ideas or are we creating more affordable rental housing units? Dennis and his team at the BPC get this, and I know you’ll find his answers insightful as you plan your impact strategies for the year.
In this issue, we also recognize the tremendous accomplishments of one of our founding members and Multifamily Impact Framework™ adopters, Bridge Investment Group Holdings Inc. (“Bridge”). Bridge’s Workforce & Affordable Housing Team has done a deep dive on utilizing the Framework in their latest impact report, and what they’ve built is quite impressive. We synopsized this report and how they used our Framework for it below, but feel free to check out Bridge’s complete annual Workforce and Affordable Housing (“WFAH”) Impact Report for more details. And click here to download the Multifamily Impact Framework™.
Bob Simpson
President and CEO
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What do you see as the most critical policy issues related to impact for multifamily communities in 2025? | |
Our nation suffers from a severe shortage of affordable rental homes, a situation that has led to crushing rent burdens for millions of lower-income households. Fortunately, policymakers from across the political spectrum recognize that increasing affordable rental supply is critical if we are to make progress in solving this problem. That's why enactment of the Affordable Housing Credit Improvement Act, which would expand federal support for and strengthen the Low-Income Housing Tax Credit program, is a top Terwilliger Center priority. This legislation has overwhelming bipartisan support, so we are optimistic that it can cross the legislative finish line in Congress sometime in 2025. | |
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Multifamily Impact Framework™ Adopter
Bridge Investment Group Holdings Inc.'s Workforce & Affordable Housing Team
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Bridge Investment Group Holdings Inc.(“Bridge”) is a leading alternative investment manager with dedicated teams of investment professionals focused on select verticals across real estate, credit, renewable energy and secondaries strategies. Below are a few key highlights from the firm’s latest annual Workforce and Affordable Housing (“WFAH”) Impact Report that demonstrate how Bridge used the MIC’s Multifamily Impact Framework™ to achieve measurable impact for its WFAH strategy. Click here for the full impact report. | |
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- To further enhance its impact measurement, Bridge aligned its efforts with MIC’s Framework, which provides a robust structure for measuring and managing impact in key areas such as affordability, housing stability, and environmental sustainability. By integrating MIC’s principles with its existing IRIS+ metrics, Bridge has strengthened its approach to impact measurement. This integrated approach allows the firm to track immediate outputs, such as the number of affordable units added, while also assessing longer-term outcomes like improved resident well-being and community resilience.
- Bridge believes that adopting the MIC’s Framework will enhance its impact measurement capabilities by introducing a standardized, market-based approach tailored for multifamily impact investing. This Framework aligns with global ESG benchmarks and incorporates seven core principles: Affordability, Housing Stability, Economic Health and Mobility, Resident Engagement, Health and Wellness, Climate and Resiliency, and Diversity, Equity, and Inclusion. These principles will guide Bridge’s investment strategies and provide a comprehensive framework to measure the effectiveness of its initiatives.
- Bridge believes that combining the Framework with its existing IRIS+ metrics is expected to create a more robust data collection and analysis process, providing insights into both immediate outcomes and long-term impacts. This integrated approach aims to better demonstrate the social and financial value of its investments and highlight its commitment to affordability, sustainable practices, and community well-being. While IRIS+ has provided a solid foundation for impact measurement, Bridge believes that adopting MIC’s Framework will further enhance its reporting capabilities, align its efforts with industry best practices, and ultimately lead to more effective and impactful housing solutions.
- Bridge has exceeded the affordability threshold set by MIC’s Framework, ensuring that over 51% of its units are affordable to renter households earning 80% or less of the AMI in standard markets. Additionally, Bridge has deployed over $2.3 billion in historically marginalized communities to date as of June 30, 2024. This reflects the firm’s ongoing commitment to addressing housing disparities and promoting equitable outcomes in its communities.
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Industry News and Updates
Members in the News
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Thank You to Our Members! | |
We’d like to take this opportunity to thank the following members of the Multifamily Impact Council for their ongoing support of our organization and its mission: | |
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