Investors

In 2019 and 2020, HAPA began informing potential investors about the opportunity presented by the project. We got contact information on many investors from Prequin. We sent emails to Lennar, Integral Communities, and 38 other homebuilders. We sent emails and brochures to Real Estate Consulting firms, environmental interest groups, various agencies of the State of California and legislators, building trades unions, housing trusts, affordable housing agencies, LLCs, engineering firms, mega-billionaire new tech giants, and non-profit housing advocacy agencies and more. Our database had categories for Academia, Bank, Billionaires, Broker, Builder, 3 story THs, Business, Civil Organizations, Climate, Consultant, Faith, Foundations, Funds, High rise, Housing agency, Investor, Media, Multifamily Businesses, Private bank, Raters, Real Estate Fund Bay Area, Real Estate Investment Services, Retire, Social Equity, and Solar

We sent hundreds of messages. No one would touch it—it was too innovative for them. Encore and other investors in Culdesac in Phoenix, were also not interested.

The State of California could supply some of the funding if a major developer is committed to funding most of the project. Interested state agencies are the Strategic Growth Council, the Tax Credit Allocation Committee, the Office of Planning and Research, the California Air Resources Board, and the State Department of Housing.