Case study: Chinese Community Center
The Our Neighborhoods Capital Fund (ONCF) is an emerging CDFI that meets the capital needs of community development organizations serving low-income Asian American and Pacific Islander communities.
Established by National CAPACD in 2023, ONCF serves as a new vehicle for advancing the organization’s efforts to prevent displacement of our AAPI communities from the nation’s most expensive and quickly gentrifying markets. AAPIs face a disproportionate risk of displacement compared to other racial ethnic groups in the US.
Through strategic investments in real estate development projects that help to maintain neighborhood affordability, paired with relevant and timely technical assistance, ONCF helps to ensure that individuals with low-income and community-serving businesses and non-profit organizations can remain in their neighborhoods of choice. This work complements and builds on National CAPACD’s two decades of experience in policy advocacy, grantmaking, and organizational capacity building.
Through the ONCF, National CAPACD will deepen its commitment to advancing the work of our members to prevent displacement and create places of belonging for AAPIs. Below are examples of real estate projects from our members across the country that inspire us to invest in this work. Some projects are complete, others in the nascent stages of pre-development, and others are about to break ground. All would have or can still benefit from greater investment of affordable, patient capital. The model minority myth has only served to mask the tremendous economic inequality that exists in AAPI communities - rendering our needs invisible or excluding AAPIs from community development investment programs altogether.
ONCF seeks to be that capital and capacity-building resource for our members. Our goal is to achieve an inclusive economy with fair, equitable access to capital for all.
Why Invest in AAPI Neighborhoods
The ONCF Leadership
The Our Neighborhoods Capital Fund is currently seeking a CEO to launch the emerging CDFI. A job description can be found here.
ONCF’s Board of Directors includes:
- Board Chair - Seema Agnani, National CAPACD
- Vice Chair - Angie Liou, Asian Community Development Corporation
- Treasurer - Rachelle Arizmendi
- Secretary - Joyce Pisnanont, National CAPACD