No images? Click here Climate change doesn’t come and go with the seasonsInsight from Elyse D. Cherry, CEO of BlueHub CapitalWe are in the midst of another very active hurricane season. Historically, the U.S. has averaged about three named storms making landfall per year. But in 2020, 11 named storms made landfall and in 2021, we've already seen eight. Perennially at this time of year, the business world and media talks more about extreme weather and its impacts, yet this is a crisis that needs attention year-round. Here at BlueHub we have long been focused on climate change and environmental justice, working to mitigate the negative effects for the communities we serve, while also ensuring they benefit from clean energy advances. We are taking what we’ve learned about financing energy efficiency improvements to provide expertise and financing so borrowers can take advantage of all the available enhancements. Here's what to know to start planning your clean energy upgrades. Be well, Elyse D. Cherry S&P upgrades BlueHub Loan Fund’s rating to ‘A’S&P Global Ratings upgraded BlueHub Loan Fund’s financial outlook from ‘A-’ to ‘A’ with a stable outlook. According to S&P, the increased rating reflects BlueHub Loan Fund’s:
Awards$20 million New Markets Tax Credits allocation
$3.6 million COVID response grant
In the NewsAffordable Housing News MagazineAffordable Housing News magazine included BlueHub Capital and its CEO Elyse Cherry in its Summer 2021 issue as a Leading Lender, citing its extensive work with partners across the country in the affordable housing ecosystem. NextCityNextCity featured BlueHub Capital's new impact measurement tool, which assesses the potential of loans to support racial equity in various community projects. Still in its pilot phase, the tool, called REAPP (which stands for Racial Equality Assessment that is Proactive and Practical) is intended to help direct loans to developers and borrowers focused on creating affordable housing, according to Catherine Dun Rappaport, our VP of Learning and Impact Measurement. Eventually, BlueHub is hoping to make REAPP available to the wider CDFI community. North Shore CDC's South River Revitalization Project in Salem, MA, is one of the first projects to utilize REAPP. (Photo courtesy: MASS Design) Borrower Spotlight: Making housing dollars go further in LAWith a $3.3 million acquisition loan, BlueHub helped finance Abode Communities’ Beacon Landing. This new 89-unit building will be located in San Pedro, a neighborhood near the Port of Los Angeles, where homelessness is on the rise. Abode Communities’ housing-first philosophy offers a durable solution for the unhoused. Abode Communities and its partners have standardized every aspect of the development process; they will use the same acquisition lender, the same architect, the same service provider, and the same modular manufacturer, all in an effort to decrease costs and make dollars go further. Read more. Early Concept of Beacon Landing by Abode Communities | Architecture |