Giving: Opus Foundation is Putting Capital to Work for Arizona Workforce Housing

The Opus Foundation is investing $500,000 in the Pfister Housing Impact Fund to help expand access to affordable and workforce housing in Arizona. The program-related investment (PRI) will provide catalytic capital to help advance housing developments for working families.

Created by Greater Phoenix Leadership and managed by nonprofit lender RDF, the Pfister Housing Impact Fund provides flexible, below-market financing to developers. As loans are repaid, the capital can be reinvested in additional projects, allowing investments like the Foundation’s to support more housing over time.

For the Foundation, the investment addresses a growing need in a region where we have a significant presence. Arizona’s rising housing costs are making it increasingly difficult for working families to find attainable housing, with implications for families, employers and communities.

“The Pfister Housing Impact Fund is a key initiative in the Valley aimed at bridging the housing gap for essential community workers. Building a prosperous community means ensuring that our nurses, teachers, first responders, and others are fully included in our neighborhoods in a way that allows them to thrive. We’re proud to team with Greater Phoenix Leadership on this initiative and look forward to better and stronger communities that work for all,” said Larry Pobuda, Senior Vice President & General Manager.

The Pfister Housing Impact Fund’s approach aligns with the Foundation’s commitment to strengthening communities and expanding access to opportunity. It also demonstrates how PRIs can complement traditional grantmaking by putting Foundation resources to work in a way that can generate measurable impact and extend the reach of their philanthropic capital.

The Pfister Housing Impact Fund aims to help finance at least 1,500 workforce housing units, with at least 80% affordable to residents earning 120% or less of the area median income.

Photo credit: RDF (Greenlight Communities project – “The Lanai”)