The Local Initiatives Support Corp. (LISC) is launching its 33rd program office in Charlotte, N.C., as part of a major effort to expand affordable housing, businesses, and jobs across the region, especially in areas that have not benefited from the area’s economic growth.
Ralphine Caldwell, a longtime regional expert on community development strategies, has been named executive director. She most recently served as senior vice president in charge of programs for the Charlotte Mecklenburg Housing Partnership (CMHP), a nonprofit housing development and finance organization.
“Right now, many of our communities are facing a significant opportunity gap, but those challenges don’t tell the whole story,” said Caldwell in a statement. “They don’t speak to the rich culture in our communities or the vibrant energy that runs through our city. LISC will be investing in ways that tap into that strength so we can raise local incomes and improve the overall quality of life for thousands of residents.”
The launch of LISC Charlotte follows extensive conversations with local nonprofits and civic leaders on strategies to reduce economic disparities and address a worsening shortage of affordable housing, according to officials.
National LISC has committed $25 million to support the first few years of LISC’s work in Charlotte. Additionally, LISC will be managing an innovative Housing Opportunity Fund, supported by public and private dollars, to drive affordable and mixed-income housing development.
In addition to housing, other priorities include seeding small businesses, revitalizing commercial corridors, and fueling community-based programs that help residents expand their skills so they can take advantage of growth industries and move into living-wage jobs.
“There is clearly a great deal of innovation and talent in the Charlotte area,” said Maurice A. Jones, LISC president and CEO. “And there is work to be done to help everyone to benefit from the city’s tremendous growth. We want to help fuel locally driven opportunities that tear down old barriers based on race or ZIP code so that all of Charlotte’s residents have the chance to contribute to, and benefit from, a vibrant local economy.”
Caldwell is scheduled to begin her new position in March, when she will start hiring local staff and reaching out to community partners on strategies for growth.
She spearheaded the process to have CMHP designated as a Community Development Financial Institution, creating new opportunities to attract funding for Charlotte communities. At CMHP, she led a 14-person staff to connect thousands of Charlotte families to rental housing and homeownership opportunities through counseling, downpayment assistance, and lending. She’s also managed a variety of federal, state, and local housing finance programs.
Earlier in her career, Caldwell worked in various positions in mortgage finance and title insurance. Throughout her career, she has also served on a number of advisory boards for banks and nonprofits, including NeighborWorks America, Fifth Third Bank, and Housing Partnership Network.
Since 1979, LISC has invested $18.6 billion to build or rehab 376,000 affordable homes and apartments and develop 63 million square feet of retail, community, and educational space. LISC has been active in North Carolina through its Rural LISC investment program and its affiliates, National Equity Fund and New Markets Support Co., which together have invested nearly $80 million in housing, businesses, and jobs across the state.
