Read our success stories from New York, New Orleans and other cities across the country.
UIG has committed approximately $100 million over the last three years to catalyze the development of Teachers Village. Located in Newark, Teachers Village is the first phase of a major redevelopment that will include more than fifteen million square feet of charter schools, housing for teachers, retail and office space.
The four largest public housing developments in New Orleans were hit hard by Hurricane Katrina, displacing thousands of people. Rebuilding those communities to allow residents to return is a major part of the region's revitalization strategy.
In July, 2010 we committed $40 million as the sole private-sector investor in the Healthy Food and Healthy Communities Fund.
In September, 2010, we invested $5 million of Low-Income Housing Tax Credit equity to finance the construction of a 125-unit affordable residential building in Salt Lake City, Utah.
We committed $5.5 million in March 2008 to finance the rehabilitation of PS 90—a Harlem public school building abandoned for 30 years—into a mixed-income development with 75 residential condos and 13,000 square feet of community facility space.
Our Urban Investment Group (UIG) is the sole private investor in the Bradford, a mixed-use development in the Bedford-Stuyvesant section of Brooklyn.
In 2005, we invested $8.2 million in The Kalahari, the largest mixed-income home ownership project in New York City history.
In October, 2009, we made a $61 million investment in the New York Equity Fund to develop affordable housing in Harlem, Brooklyn and the Bronx.
Alicia Glen, head of the Urban Investment Group at Goldman Sachs, discusses the firm's commitment to "social impact investing" — the idea of leveraging private sector capital to finance public social services.