Triangle Impact Fund I: Housing Affordability

Amount

In this first Request for Proposals (RFP), we expect to deploy up to $4,400,000 via loans to eligible applicants to support specific projects in the Triangle that advance one of three key pillars related to housing affordability. Typical investments will range between $250,000 and $1,500,000 per project. 

Application Open

Monday, June 15, 2026 

Program Overview 

Housing affordability is a critical issue in the Triangle region, impacting both individuals and the overall economic health of the area. Recent population growth and related surge in demand has driven up housing prices dramatically, making it increasingly challenging for many to find affordable places to live. This lack of affordability especially affects essential workers like teachers, service industry employees, and young professionals, potentially forcing them to commute long distances or even leave the area, impacting the region’s workforce and overall quality of life.     

Triangle Community Foundation seeks to leverage its unique assets to make an impact on housing affordability in the Triangle. We are pleased to formally launch the Triangle Impact Fund (the Fund).  

The Fund is an impact investment initiative of the Foundation designed to deploy below-market capital to support projects that advance long-term housing affordability for low- and moderate-income households while strengthening community stability and preventing displacement.

Interest Rate	Below market rate. Based on borrower capacity, community benefit, and other criteria included in the evaluation framework.
Term	Up to five years.
Fees	No origination fee.
Security	Secured or Unsecured. We will seek collateral where feasible. While not all loans will be fully collateralized, risk mitigation is required in every transaction.
Reporting	Borrowers will be required to provide periodic financial and impact reporting, notify the Foundation of material changes to the project, financing, or organization, and maintain compliance with loan covenants.

Program Goals: Our Housing Pillars 

Projects must align with one primary funding pillar. 

Eligibility 

All applicants and projects must meet the following eligibility criteria. Those that do not will not be fully reviewed and scored.  

• Applicants must be one of the following: 
  • Nonprofit housing organization 
  • Mission-driven developer (for-profit, not-for-profit, or B Corporations) 
  • Community development organization 
  • Partnership including affordable housing developers and/or local governments 
  • Local governments are not eligible to be the primary applicant 

• Projects must:  
  • Be located within the Triangle region (Chatham, Durham, Orange, or Wake counties) 
  • Align with one or more housing pillars
  • Demonstrate site control or program readiness 
  • Show a defined financing gap 
  • Commit to long-term affordability outcomes 
  • Demonstrate implementation capacity 
  • Outline a clear repayment plan within five years 

• Capital use: Funding will be deployed as below-market loans to support costs including, but not limited to:  
  • Acquisition financing 
  • Gap financing 
  • Pre-development costs 
  • Preservation transactions 
  • Homeowner stabilization programs 
  • Land acquisition or holding costs 

Evaluation Process

Applications are reviewed through a three-stage process: 

• Stage 1 — Threshold Review (Pass/Fail) 

Eligibility verification by Foundation team. 

• Stage 2 — Quantitative Scoring (100 Points) 

Projects evaluated based on: 

Category	Points
Mission & Pillar Alignment	10
Financial Feasibility	10
Project Readiness	10
Affordability Impact	10
Organizational Capacity	10
Pillar-Specific Impact	30
Innovation & Ancillary Benefits	10
Committee Discretion	10
TOTAL	100

• Stage 3 — Impact Investment Committee Decision 

Projects receive one outcome: 

• Fund 
• Hold 
• Decline 

All decisions will include written rationale. 

Evaluation Criteria and Scoring Methodology

All eligible applications will be evaluated using a 100-point scoring framework. The following criteria describe how projects will be assessed and what applicants should address in their submission. Please click here to review the evaluation and scoring details.

Timeline

Milestone	Date
RFP Release	Monday, June 15, 2026
Information Session	Monday, June 22, 2026
Applications Due	Monday, July 13, 2026
Review Period	Late July – early August 2026
Underwriting and Committee Decisions	August – September 2026
Public Award Announcements	By Thursday, September 17, 2026

Required Application Materials

Applicants must submit via Triangle Community Foundation’s Grant Lifecycle Management Platform: 

• Completed Application Response  
• Development budget or program budget 
• Sources and uses 
• Organizational financials (last three years) 
• Development or program experience 
• Site control documentation (if applicable) 
• Affordability commitment description 

Information Session Registration

A virtual information session will be held on Monday, June 22, 2026 at 1:00pm EDT via Zoom. Registration is required: https://trianglecf-org.zoom.us/meeting/register/FEsQxxKYRqiempNRjDBYnA  

Reporting Expectations

Awardees will report outcomes on an annual basis. Metrics will be aligned with the Triangle Impact Fund Impact Indicators Framework, including: 

• Units preserved or created 
• Homeowners stabilized 
• Land secured for affordability 
• Households served 

To Apply

To be considered for funding, applicants must submit an application using Triangle Community Foundation’s Grant Lifecycle Manager (GLM) platform: https://www.grantinterface.com/Home/Logon?urlkey=trianglecf  

All required materials must be submitted by 11:59pm on Monday, July 13, 2026 via GLM. Responses submitted after this deadline or outside of the GLM platform will not be considered. 

Applicants should submit any questions related to this RFP to Sarah Guidi, Director of Community Engagement, 919-328-4014, or [email protected].