Blackstone launches $1b affordable housing program
Home Partners of America, a wholly owned portfolio company of Blackstone that purchases, owns and operates high-quality single-family rental homes, has launched Choice Lease, designed to help address the affordable-housing crisis and mortgage-access challenges often faced by low-to-moderate-income families and historically under-represented communities.
“During a period in which constrained housing supply has made it extremely difficult to find a desirable home, our Choice Lease program is providing a critical service to many who would not otherwise be able to access the housing market,” said Bill Young, co-founder and CEO of Home Partners of America. “We are grateful that our partners at Blackstone have provided the support needed to implement this initiative, which addresses disparities in home ownership among historically under-represented communities as well as low- and moderate-income consumers. We have a unique opportunity to drive change that will help these gro