News Story

NEF, Fifth Third close out $25M Opportunity Zones fund to expand workforce and low-income rental housing

National Equity Fund and Fifth Third Bank have closed on $25 million in Opportunity Zone investments to support development of nearly 300 rental homes for low- and moderate-income families, as well as commercial space and jobs to expand economic opportunity for the communities where they are built.

The fund, which was announced earlier this year and fully deployed over the summer, offers a model for how Opportunity Zones capital can help meet the nation’s growing demand for affordable housing at a time when there is not enough conventional financing available to scale up construction and preservation efforts.

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