Canyon Partners Real Estate launches workforce housing fund
Canyon Partners Real Estate has launched Canyon Multifamily Impact Fund III, a real estate fund in partnership with CIT Bank. It is the third fund within Canyon’s workforce housing platform dedicated to advancing community development and embracing environmental responsibility.
The fund is positioned to acquire and manage up to $90 million in workforce housing apartment communities throughout Southern California, which serve low- to moderate-income residents. To date, Canyon’s existing Multifamily Impact Funds have invested in more than 3,700 workforce housing units, representing more than 3 million square feet of space.
A core initiative of the Canyon Multifamily Impact Fund III will be to implement social programs through a variety of education, healthcare and community initiatives designed to benefit both residents and the communities in which they live and work. Onsite programs may include afterschool tutoring, financial education, employment a