A “Behind-the-Scenes” Look: The CCC Foundation Helping Fund Affordable Housing in Richmond
The CCC Foundation takes its mission to support the students and programs of Contra Costa College seriously.
And sometimes, that work happens behind-the-scenes.
One strategy the Foundation is proud of centers on how it invests money. When someone from our community of supporters in Contra Costa County makes a donation, sometimes it isn’t immediately spent. Whether donated to an endowed fund or accruing toward a specific scholarship or program, the Foundation is thoughtfully investing the dollars it raises both in support of its current mission and to ensure that the Foundation is around for a long time.
That’s why in partnership with Morgan Stanley Graystone and Community Capital Management (CCM), the CCC Foundation has invested over $830,000 in impact and ESG (socially responsible) projects, with a focus on affordable housing and affordable mortgages in Richmond. Through this initiative, the Foundation is helping to alleviate poverty and support the greater community behind-the-scenes, not just through the many programs at Contra Costa College that it funds.
Specifically, the Foundation’s dollars support an affordable housing project in Richmond called Monterey Pines. Monterey Pines is an affordable rental property with 321 residential units reserved for low-income residents earning no more than 80% of the area median income. The property is on 37th Street, in a low-income, diverse area of the city where 22% of residents live below the poverty line.
With half of the Foundation’s CCM investment supporting Monterey Pines and the other half earmarked for a project in Rodeo, the Foundation is leveraging its dollars for the greatest good possible – something it is quite proud of. The Foundation anticipates even more socially-responsible investing and making a difference in our West County community in the years to come.