Meyer Memorial Trust Chooses PCRI for Housing Grant

November 21, 2016 · by pcriadmin · Featured, Pathway 1000, PCRI, The Beatrice Morrow

PCRI is proud to be selected by Meyer Memorial Trust for a 2016 Housing Opportunities portfolio grant award. The grant, announced in November 2016, will help offset costs for PCRI to develop a large community center in the new building at the Grant Warehouse site (more recently named The Beatrice Morrow) which will serve residents as well as the larger community. Grant funds will also ensure the affordability of family-sized apartments in this new building, meeting Meyer’s goal of increasing the number of available affordable housing units.

Conceptual Rendering of The Beatrice Morrow (c) Carleton Hart Architecture

Conceptual Rendering of The Beatrice Morrow (c) Carleton Hart Architecture

In a post on Meyer’s website, Housing Opportunities portfolio director Theresa Deibele noted that equity and cultural competency were especially important for selected grantees, including PCRI and other organizations who predominantly serve communities of color. She added that selected grantees such as PCRI aligned well with Meyer’s equity mission, including work to reduce the disparities faced by marginalized people, support for vulnerable populations and commitments for contracting and employment opportunity.

“Equity also showed up in how projects are carried out,” Deibele wrote. “All capital projects reflected a commitment to use minority-owned, women-owned and emerging small business contractors.”

PCRI has made significant commitments to contracting equity in the development of The Beatrice Morrow and other projects. This development will also be part of PCRI’s Pathway 1000 initiative, which has a significant component dedicated to contracting and employment. An implementation plan for this portion of the Pathway 1000 initiative is currently underway.

PCRI was among six organizations who were awarded grants for new housing development. All of the developments awarded will serve very vulnerable and high priority populations. A total of 282 new units are expected to be added to the state’s housing stock in part because of these awards, according to Meyer’s website.

Diebele noted the value in Meyer’s philanthropy to help ensure the viability of affordable housing which also leverages public and private funds.

“Many projects directly leverage large public investments, which often come from restricted funding sources (e.g., tax increment financing that must be spent on capital in a certain neighborhood region),” she wrote, “and philanthropy can play a role in helping to fund the staffing and support services needed to deploy such funds.”

PCRI is honored to have Meyer Memorial Trust’s support to develop The Beatrice Morrow and is looking forward to beginning construction. As of November 2016, the development was pending building permit approval and finalization of financing terms. Construction is expected to begin in winter 2016-17.

 

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