2023 Annual Report

2023 at a Glance

EDREE Update

The Leviticus Fund made a $1.86 million loan to Newark Portfolio II Urban Renewal LLC through the EDREE initiative. Launched in 2021, EDREE stands for Empowering Diverse Real Estate Entrepreneurs, and makes flexible, low-cost loans to racially and ethnically diverse real estate developers in New York, New Jersey, and Connecticut.  

The loan will support the new construction of a five-story, mixed-use building with 23 two-bedroom apartments at workforce housing rental rates and one commercial unit. Twenty percent of the units will be deed-restricted at affordable rents for 15 years.

Richard Sosa of GonSosa Development and Construction is a Latino entrepreneur with extensive experience in the real estate sector. The development in Newark is designed with sustainability and comfort in mind.

The Leviticus Fund also convened a “Building Community” roundtable in December 2023 with representatives from 22 organizations. Topics included real estate decarbonization strategies and funding opportunities.

Across the United States, low-income communities and people of color are often poorly positioned to withstand the effects of climate change. A more equitable future is only possible if all communities have the resources to invest in sustainable systems, technologies, and solutions. The Leviticus Fund is committed to green financial and environmental resilience.

Cornerstone Award

 

In the building trades, the cornerstone guides the workers in their course; it is the standard of measure and alignment. The Leviticus Fund presented its 2023 Cornerstone Award to Sadie McKeown, President of The Community Preservation Corporation (CPC), in recognition of her leadership in addressing energy performance, efficiency and decarbonization as a part of the mortgage process.

Throughout her career, Sadie has been a fierce advocate for moving the real estate industry and built environment towards carbon neutrality. Forty years ago, one of the goals of the founders of the Leviticus Fund was to protect and share the earth’s resources, and we are pleased to honor Sadie’s efforts to help make that goal a reality.

Explore the 2023 Annual Report