At the Neighborhood Economics conference in February, I had the opportunity to share with other place-based developers about the work of FCS and in particular, our Rotational Capital Fund (RCF).
The RCF was born out of the 2008 financial crisis, when FCS needed a new approach to acquiring and building homes in the turbulent real estate and banking landscape.
Essentially, several key people took a risk and invested funds to get FCS’ housing program going again, using a new and more flexible approach.
Sharing about the RCF with over 60 people at a breakout session reinforced my deep gratitude for the individual and institutional investors who have propelled FCS forward over the years. The conversation reinforced the tremendous need for patient, low-cost capital to create deep affordability for neighborhoods across the nation.
Now, 15 years later, that approach has allowed us to keep building homes that are affordable to South Atlanta neighbors. It’s made it possible for our housing team to build and rehabilitate 12-18 homes per year.
To all of you who have contributed to that vision, and to the broader work of FCS, thank you. We would not be here without you.
Thinking of you, and seeing the deeply committed neighborhood leaders across the country at the conference, has left me refreshed and inspired.
Let’s keep moving forward together.
-Jim Wehner, President
