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Smart Growth Fund Investing in Low-Income Areas

SAN FRANCISCO- The new fund by the Bay Area Council has $50 million to invest. Investors include Bank of America and Wells Fargo.

By Michelle Savage | Updated on January 02, 2002

SAN FRANCISCO-A new investment fund has been created to encourage development in underserved low-income Bay Area neighborhoods. The fund now has $50 million to invest. Investors include Bank of America and Wells Fargo.

The Bay Area Smart Growth Fund aims to work with local non-profits to build mixed-income housing, commercial buildings and industrial projects in about 50 neighborhoods throughout the Bay Area. The fund was started by the Bay Area Council, a public-policy group, to help with housing and transportation issues that have plagued the Bay Area for several years.

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