What is El Barrio Homes?
El Barrio Homes is an ethical investment opportunity, intended for qualified individual investors and institutions familiar with the New York residential real estate market.
Your investment goes towards buying housing in East Harlem. After the five-year term, you will receive a return on your investment based on the market rate for real estate in East Harlem. You will also provide affordable housing for a member of the East Harlem community who would be otherwise priced out of the neighborhood. The tenant selected would also be engaged in outreach work with their community
We hope to achieve a double bottom line; to create an important social good, while also obtaining a fair return on your investment. It is based on a model successfully used in other high cost cities, including London.
Our congregation has been in East Harlem for more than 50 years. We have watched the neighborhood be shaped by the forces of gentrification. We have found a new way to respond to these damaging market pressures, one which puts local residents first.
Listen to this interview for more information!