The Urban Investment Group has extensive experience with market-rate, mixed-income and affordable housing projects, as well as with public-private partnerships that stimulate mixed-use development. Since its inception in 2001, UIG has committed nearly $1.2 billion to revitalize underserved urban communities. This investment has facilitated the creation and preservation of approximately 9,000 housing units--75% of which are affordable to low-, moderate- and middle-income families--as well as 630,000 square feet of community facility and approximately 900,000 square feet of commercial and retail space. “The UIG has traditionally focused on affordable housing development, but also recognizes the critical importance of affordable housing preservation,” Alicia Glen, managing director and head of the Urban Investment Group at Goldman Sachs, tells GlobeSt.com.

“Today’s changing regulatory climate and uncertain financial markets require thoughtful consideration of environmental and social factors that impact the bottom-line and create long-term value,” says Wendy Rowden, managing director of Jonathan Rose’ Investment Practice, who, along with Nathan Taft, will direct the acquisitions team for the new fund. “Goldman Sachs recognizes, as do we, that green retrofits can reduce costs for owners and tenants, mitigate greenhouse gas emissions and provide healthier living environments, all while revitalizing existing communities. We expect to see a number of well-located CRA-eligible housing projects that can benefit from practical green upgrades with a reasonable investment payback.”