Gardner Capital's Upward Mobility Fund to Provide Funding for EV Charging Stations at Affordable Housing Development in Houston
DALLAS, Dec. 29, 2022 /PRNewswire/ -- Gardner Capital, a Dallas based private equity firm and alternative investment platform specializing in multifamily housing and renewable energy development and investment, announced its new multi-family housing complex in Sugar Land, Texas, Provision at West Belflort, has secured a funding commitment from the GCRE Upward Mobility Fund to install an on-site solar energy system as well as EV Charging stations that will provide tenants with significantly discounted charging rates – delivering real savings to families. The funding commitment is a part of Gardner Capital's sustainable energy commitment and the commitment from the Upward Mobility Fund to promote programs that deliver real and meaningful savings to families and seniors. The GCRE Upward Mobility Fund is part of Gardner Capital's Alternative Investments Platform, which provides funding for projects promoting clean energy for multi-family housing or upward mobility.
"Gardner Capital will be providing West Bellfort residents with convenient access to EV charging stations at extremely low prices – the additional funding allowing us to go a bit further and offer completely free charging for qualified tenants for at least the next two years," said Michael Gardner, Founder of the GCRE Upward Mobility Fund and CEO of Gardner Capital. "Promoting EV adoption, while delivering real savings to our tenants is the core of why we launched the GCRE Upward Mobility Fund in 2020 and we will continue to develop projects and fund programs that deliver real economic value to families and seniors across Texas."
Solar energy is the fastest-growing energy source in the United States, according to the Center for Climate and Energy Solutions. However, its use in multi-family housing generally remains low. With its Alternative Investments Fund Platform, Gardner Capital aims to change that with plans to deploy up to $500,000 annually to expand access to clean energy with grants and soft loans to both individuals and businesses submitting innovative proposals.
Applicants can apply for funding from the GCRE Upward Mobility Fund through the Alternative Investments Fund on Gardner Capital's website; funding is capped at $25,000 for any one specific proposal (subject to waiver for special considerations). All proposals that focus on increasing access to, or adoption of, renewable energy (or related projects) will be considered with a preference for proposals that are also focused on serving low to moderate-income families or other underserved populations and communities.
Located at 13701 W Bellfort Boulevard in Sugar Land, Provision at West Belfort is a multi-family community, providing affordable housing for families in the Houston Metro Area. In addition to the solar energy system, the additional funding commitment from the GCRE Upward Mobility Fund will allow for deeply discounted charging for electric vehicles and will have an initial pilot program period where charging will be offered to qualified tenants for free – at no cost to tenants – delivering substantial savings potential for families that choose to utilize electric vehicles. Construction for the added amenities is expected to be completed in early 2023.
Gardner Capital is a private equity firm and alternative investment platform with multiple operating businesses focused on affordable housing and renewable energy development, tax credit syndication, as well as real estate-related investments, joint ventures and capital partner relationships. The firm has offices in St. Louis, Dallas, Houston and Orlando. Since 1992, Gardner Capital has placed more than $3 billion of equity in affordable housing and related investments. In recent years, Gardner Capital added a rapidly growing national platform for solar development and investments, expanding its commitment to renewable energy and sustainability across its investment platform. Additionally, the firm launched multiple alternative investment funds focused on renewable energy and EV adoption, upward mobility and investments in underserved markets. We are committed to investing in communities, supporting upward mobility, and improving the wellbeing of families by developing, investing and increasing access to capital for affordable housing, clean energy and entrepreneurs. For more information, visit www.gardnercapital.com.
Launched in 2020, the GCRE Upward Mobility Fund provides low interest soft loans, grants, venture and seed capital to initiatives that focus on upward mobility, renewable energy, EV adoption, or initiatives focused on investment in otherwise underserved markets. The Fund is expected to commit more than $500,000 annually for programs that align with the Funds investment goals and guidelines. For more information or to inquire about funding opportunities, please visit GCRE Upward Mobility – Funding Page
[email protected], gardnercapital.com
SOURCE Gardner Capital
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