BRIDGE Housing Reaches First Close on $92M Impact Fund to Preserve West Coast Affordability

The nonprofit organization aims to assemble a $350 million fund to support affordable housing preservation and creation.

Published on Mar. 11, 2026

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BRIDGE Housing, a San Francisco-based nonprofit focused on affordable housing, has reached the first close of its BRIDGE Housing Impact Fund I, securing more than $92 million in commitments. The fund is designed to assemble a large pool of mission-aligned equity to support affordable housing preservation and creation across California, Oregon, and Washington.

Why it matters

The BRIDGE Housing Impact Fund I is a significant effort to address the ongoing affordable housing crisis on the West Coast, where rising rents and home prices have made it increasingly difficult for low- and middle-income residents to find and maintain stable housing. By preserving existing affordable units and creating new ones, the fund aims to keep more people housed in their communities.

The details

The Impact Fund will target the acquisition of properties with expiring affordability restrictions, aiming to keep those assets in regulated affordable use. The fund also plans to purchase market-rate multifamily properties for conversion to regulated affordable housing, expanding the region's stock of income-restricted units. The first close includes investments from KeyBank, BMO, Capital One, U.S. Bank, Century Housing, and PGIM, as well as a capital commitment from BRIDGE Housing itself.

  • BRIDGE Housing launched the Impact Fund last year.
  • The first close of the fund was reached on March 11, 2026.

The players

BRIDGE Housing

A San Francisco-based nonprofit organization that concentrates on affordable housing.

Ken Lombard

The president and CEO of BRIDGE Housing.

MacKenzie Scott

A philanthropist whose organization, Yield Giving, provided an unrestricted donation to BRIDGE Housing.

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What they’re saying

“The founding investors include a mix of banks, a housing-focused organization and an institutional asset manager, alongside BRIDGE Housing's own capital commitment.”

— Ken Lombard, President and CEO of BRIDGE Housing (cremarketbeat.com)

What’s next

BRIDGE Housing is targeting a total equity raise of $350 million for the Impact Fund, which is expected to unlock approximately $1 billion in total investment capacity when combined with additional capital sources.

The takeaway

The BRIDGE Housing Impact Fund I represents a significant effort to preserve and create affordable housing on the West Coast, where rising costs have made it increasingly difficult for low- and middle-income residents to find and maintain stable housing. By partnering with a diverse group of investors, BRIDGE Housing aims to scale its impact and keep more people housed in their communities.