Regions Affordable Housing Strategy

Affordable housing is a pressing issue, with demand outpacing supply and making housing prices out of reach for many. Addressing this critical issue is capital-intensive and requires multi-faceted approaches. The Regions Foundation, an Alabama-based nonprofit funded primarily by Regions Bank, takes a two-pronged approach to affordable housing, combining equity investments in socially responsible organizations and grants to effective nonprofits in this space. Investments are selected based on a combination of financial returns and social impact. Grants to non-profits are selected based on several criteria, including local engagement, mission, programmatic and geographical scope, track record, and financial viability, in addition to an analysis of programmatic strengths, demonstrated impact and sustainability. The Foundation serves communities where Regions Bank has a presence, so local bank leadership is also consulted as they know first-hand the community needs & the non-profit’s impact and engagement. Grants lean toward programs combining housing with other aspects of community development, including place-based initiatives, workforce development, a focus on people with disabilities, homeownership preservation, case management and financial education. This approach has impacted affordable housing through the acquisition of properties for rehab for sale or rental, emergency repairs, affordable rentals leading to ownership, housing education and workforce training. The Foundation believes the combination of capital and philanthropic investments plays a crucial role in improving affordable housing and creating opportunities for inclusive and sustainable growth in the community. https://doingmoretoday.com/affordable-housing-stronger-communities-regions-Foundation-announces-major-investment-benefiting-southeastern-cities/