Impact Investing for Community Development

Lisa Hall gives an overview of impact investing in this enlightening, introduction-type piece. She shares the potential and the new opportunities for community development that are coming out of this emerging field.

1 minute read

April 11, 2014, 7:00 AM PDT

By [email protected] @shelterforce


All investments have a social impact, right? So what defines impact investing?

Writes Lisa Hall, "Impact investors, in keeping with the principles of sustainable and responsible investing, seek to do no harm and to affirmatively make investments that benefit society, creating measurable and positive social outcomes.

As impact investing becomes more mainstream, the opportunity for community development will keep growing. Part of the potential of impact investing is that it is complex, however.

"Impact investing can encompass all asset classes: cash, fixed-income, private equity, and, yes, real assets, such as investments in affordable housing. In fact, affordable housing is a classic example of impact investing: the underlying revenue model generates a social benefit and can support the repayment of debt through rental payments and predictable subsidy streams," writes Hall. "There is also a range of returns within impact investing. Different investors have different return expectations and risk appetites. Many in the sector refer to impact investments as being either financial-first or impact-first, while others are emphatic that investors should seek a blended value of returns."

Thursday, April 10, 2014 in Shelterforce

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Historic homes in St. Augustine, Florida.

Florida Considers Legalizing ADUs

Current state law allows — but doesn’t require — cities to permit accessory dwelling units in single-family residential neighborhoods.

March 18, 2025 - Newsweek

Aerial view of suburban housing near Las Vegas, Nevada.

HUD Announces Plan to Build Housing on Public Lands

The agency will identify federally owned parcels appropriate for housing development and streamline the regulatory process to lease or transfer land to housing authorities and nonprofit developers.

March 17, 2025 - The Wall Street Journal

Close-up of traffic congestion from behind cars on a freeway in the San Francisco Bay Area.

Conservatives’ Decongestion Pricing Flip-Flop

When it comes to solving traffic problems, the current federal administration is on track for failure, waste, and hypocrisy.

March 17, 2025 - Todd Litman

Close-up of rear car bumper in traffic on freeway.

Research Shows More Roads = More Driving

A national study shows, once again, that increasing road supply induces additional vehicle travel, particularly over the long run.

March 23 - Road Capacity as a Fundamental Determinant of Vehicle Travel

Close-up of "City Hall" plaque on building with gold lettering on black.

Can Progressive Planners Appeal to Conservative Principles?

Trump’s approach to policies like NYC’s congestion pricing isn’t just irrational and wasteful — it defies the tenets of conservatism. But there are ways to reframe the issues.

March 23 - Bloomberg CityLab

Close-up of seedling sprouting from ground with blurred people gardening in background.

Oak Park Plans Earth Month Events

Join Oak Park, Illinois, for a series of Earth Month events highlighting the importance of community engagement and education, integrating sustainability into local plans, and planning for the most vulnerable, such as birds, bees and butterflies.

March 23 - Local Government Commission