Nicholas,

Two weeks ago, we released Version 1.1 of the Multifamily Impact Framework™, after months of collecting your feedback and input following the Framework’s initial release in May. Thank you all for your comments and advice. It was immensely helpful, and we are so proud to have released the final version for 2023. 

So far, nearly 100 organizations have downloaded version 1.1. You can get the Framework here if you’ve not already done so. 

The Framework delivers on the primary mission of the Multifamily Impact Council (MIC): To establish a standard framework of principles and reporting guidelines to help attract more impact-motivated capital into U.S. rental housing.  

But we didn’t design the Framework as a thought exercise. We built it to be put to use. In order for us to build a market-based standard of impact investing principles, it is critical for us to support and encourage organizations across the industry to adopt the Framework into their impact strategies.   

I am pleased to report that, within the first week of release, six organizations have already agreed to adopt the Framework, and we are so thankful for their commitment! 

In this month’s newsletter, we highlight these organizations and provide a summary of how to adopt the Framework, the benefits of doing so, and how we can help you along the way.  

As always, we appreciate your interest and collaboration, and we look forward to further expanding our network of friends in the months to come. Please forward this email to anyone you think might be interested in our mission and the Framework.  

Version 1.1 is our final update this year. We’ll continue listening to feedback over the coming months and will release another update in 2024.  

Meanwhile, our focus at MIC now shifts toward three priorities:  

1. Building partnerships to integrate the Framework with ESG benchmarking and impact reporting firms.  
2. Growing our platform to share more resources and best practices to support impact-focused organizations.  
3. Encouraging more organizations to download AND adopt the Framework.  

I’m proud of what MIC, with your help, has accomplished in 1.5 years of existence. And I’m particularly proud of the Multifamily Impact Framework™, but we’ve only just begun.  

As we head into the year’s final quarter, I hope you’ll adopt the Framework and join us in our work to help the industry do well, do good, and do more to support affordable and sustainable rental housing in the United States. 

Thanks for reading, 

Bob Simpson 

President 

Multifamily Impact Council 

In 2022, the Multifamily Impact Council (MIC) was created to build an industry framework of impact principles and reporting metrics to ease the flow of impact capital into the U.S. rental housing market and support organizations who shared our belief that healthy, financially stable renters create healthy, financially stable properties. 

This month, the MIC published its final, updated version of the 2023 Multifamily Impact Framework.     

The Framework addresses four key areas: 

1. Improving the lives of the people who live in the properties. We believe that healthy and financially stable renters create healthy and financially stable properties, and our Framework consciously puts renters first.  
2. Increasing properties’ resilience while reducing greenhouse gas emissions. Our Framework aligns with and supports broadly accepted industry practices that help investors reduce their environmental footprint and protect against damage from severe weather and natural disasters.  
3. Supporting each stakeholder’s fiduciary responsibility to achieve their targeted rate of return. If we are to achieve scale, impact investing must increase the operational efficiency or reduce financial risk at the property. 
4. Creating common sense metrics that can be tracked and measured over time. Our Framework includes achievable reporting guidelines to help our partners set tangible impact goals and measure the progress of their efforts over time.    

MIC organized the Framework by seven impact principles with corresponding definitions, minimum threshold requirements, and reporting metrics. These principles are:  

• Affordability   
• Housing Stability   
• Economic Health and Mobility  
• Resident Engagement   
• Health and Wellness   
• Climate and Resiliency    
• Diversity, Equity, and Inclusion 

Impact-minded organizations can now download and adopt the Framework.

But what does it mean to adopt the Multifamily Impact Framework™?  

First, any property owner, capital provider, and industry stakeholder can adopt the Framework into their impact strategies at no cost. Your organization does not need to join MIC to adopt the Framework. 

Adopting the Framework is free, and there is no certification required. We believe that transparency is the best driver of accountability. Consequently, we do require organizations to make a good faith, public commitment to adopting and reporting against the Framework and publicly sharing that commitment via their annual impact report.   

When your organization adopts the Multifamily Impact Framework™, it agrees to: 

• Include an overview of the Impact Framework and the Framework “Adopter” logo in its annual impact reporting. 
• Share best practices and feedback with the MIC. 
• Participate in the MIC’s annual Impact Framework training session(s). 

And here’s what your organization gets when it adopts the Framework: 

• Access to ongoing, high-level technical assistance and support from MIC staff. 
• Recognition on the MIC website and social media channels. 
• Use of the Impact Framework “Adopter” logo on a royalty-free, non-exclusive license basis. 
• Access to training curriculum and educational materials. 
• The opportunity to share your impact report on the MIC website and social media channels to increase your organization’s exposure to like-minded owner-operators, service providers, and capital providers. 

You can download the Framework here. And when you’re ready, visit this page and adopt the Framework on your organization’s behalf. 

As of this email, six organizations have adopted the Framework into their impact strategies. Three of these organizations are MIC members, and three are not. 

The MIC members who’ve adopted the Framework are: 

• Comunidad Partners 
• MultiGreen Properties 
• Rainbow Housing Assistance Corporation 

And the three non-MIC members who’ve adopted the Framework are: 

• Beekin 
• The Lemle & Wolff Companies 
• Web City Properties 

These adopters touch on many parts of the multifamily industry: investors, developers, service providers, and more. Some are for-profit entities, and others are non-profit organizations. 

Beekin provides multifamily investors with Big Data- and AI-powered analytics. Measurement is critical to the Multifamily Impact Framework's™ success, so it's exciting that Beekin is already adopting the Framework. 

MultiGreen Properties builds attainable, sustainable, tech-enabled multifamily housing. MultiGreen already uses an impact framework, so it’s exciting that they’ve agreed to adopt the Multifamily Impact Framework™. 

Comunidad Partners is a real estate investment firm specializing in workforce and affordable housing in culturally diverse communities throughout the U.S. Comunidad is a founding MIC member, and they’re led by a member of our board, Antonio Marquez. 

Lemle & Wolff builds and manages affordable housing properties in New York City. The firm often partners with non-profit organizations to revitalize properties that have fallen into physical and financial disrepair. 

Web City Properties is a Texas real estate investment company that pursues impact investment opportunities. The company focuses on supporting and improving communities and actively partners with non-profit organizations. 

Rainbow Housing Assistance Corporation is a non-profit providing service-enriched housing programs for rental housing residents nationwide. Their services focus on community and resident self-sufficiency. 

Adopting the Multifamily Impact Framework™ is available to all impact-minded organizations. Adopting the Framework is free, and your organization does not need to be a MIC member. 

Download the Multifamily Impact Framework™ 

Adopt the Multifamily Impact Framework™ 

Submit your organization's news and announcements for inclusion in our monthly newsletter by emailing nicholas@multifamilyimpactcouncil.org.

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