baltimore.jpg

Forsyth Street Advisors provides a suite of consulting services to mission-driven organizations focused on advancing an equitable and green future.

Forsyth Street Advisors

Our work encompasses a broad range of impact areas including affordable housing, service-enriched supportive housing, clean energy, community-based healthcare, community facilities, urban redevelopment, neighborhood stabilization, and community development.

Our clients include public agencies, foundations, financial institutions and non-profit organizations.  We help our clients with organizational development, strategic planning, product and program design, feasibility analysis, policy review, underwriting, capital sourcing, balance sheet management, and financial structures, to name a few.
 

Our staff has decades of experience designing capital structures for mission organizations in taxable and tax-exempt markets. This includes managing a financing team, working with counsel and underwriters, preparing capital markets agency strategies and presentations, and coordinating large working groups of legal, program, and finance professionals.

Clients
San Francisco Housing Accelerator Fund
San Francisco Housing Accelerator Fund

Forsyth Street serves as financial advisor to The San Francisco Housing Accelerator Fund (SFHAF), a public-private-philanthropic partnership established in 2017 to provide powerful new tools for producing additional affordable housing in San Francisco. Forsyth Street worked for the City and County of San Francisco’s Mayor’s Office of Housing and Community Development (MOHCD) to design, create and capitalized the fund. Forsyth remains engaged as a financial advisor to SFHAF, supporting development of new programs, capital raising, and supporting credit analysis.

In 2020, Forsyth assisted the Homes for the Homeless Fund, SFHAF’s wholly-owned subsidiary, in piloting a new financing model designed to leverage philanthropic capital with public sector financing commitments to create permanent supportive housing. The fund’s prototype project will create over 140 new units of supportive housing on an expedited cost and time schedule, and will recycle its original $50 million philanthropic commitment to create additional supportive housing units in the future.

JOE NYC
JOE NYC

Forsyth was retained by a consortium of foundations to plan and launch the Joint Ownership Entity New York City (JOE NYC) a new, non-profit organization able to support the city’s non-profit affordable housing community. JOE NYC is designed to strengthen the asset and property management capacity and outcomes of participating Community Development Corporations (CDCs) and the industry as a whole; to bolster the cash flow and balance sheets of participating CDCs; to enhance the ability of CDCs to secure financing for their development projects; and to help ensure the long-term affordability of the properties in its portfolio and the stability of the communities within which they are located.

Forsyth’s initial engagement in the planning phases of JOE NYC involved a feasibility analysis, followed by a multi-year process to launch the organization including development of governance structures, financial analysis, fundraising, solicitation of CDC members and staff recruitment. Since its official launch in 2017, Forsyth continues to support the organization’s work as financial advisor.

Since its launch JOE NYC has enlisted 11 member CDCs, spanning the Bronx, Brooklyn, and Manhattan; built assets of $250 million; and taken title to more than 50 projects comprised of 2,164 units across 151 buildings with the pending transfer of ~1,550 additional units in 84 buildings. JOE NYC has extended the reach of the non-profit housing community, exemplified by the installation of rooftop solar to cover the energy needs of 115 properties over a four-year period.

Connecticut Green Bank
Connecticut Green Bank

Forsyth assisted the Connecticut Green Bank to plan and launch Inclusive Prosperity Capital, a new investment fund aimed at deploying clean energy solutions in low-to-moderate income communities in Connecticut and beyond. As part of this assignment, Forsyth conducted a feasibility study and drafted a business plan for the creation of a new non-profit that is able to rapidly deploy financing for clean energy efforts while promoting diversity, equity and inclusion in communities across the eastern seaboard.

NYCEEC
NYCEEC

NYCEEC is the country’s first local green bank. The organization provides loans for energy efficiency and clean energy projects in NYC and throughout the Northeast and Mid-Atlantic regions.

As NYCEEC’s financial advisor since its inception as a City-sponsored entity, Forsyth has provided a comprehensive set of services that includes assistance with program development, credit analysis, lending operations, and raising capital for specific projects, programs, and management of NYCEEC’s balance sheet.

National Community Stabilization Trust - REO Capital Fund
National Community Stabilization Trust - REO Capital Fund

As the housing market deteriorated around the country in 2008 and 2009, Forsyth Street worked with leading national housing nonprofits in an unprecedented collaboration to establish the National Community Stabilization Trust (NCST). NCST has become a key connector between community-based organizations and distressed assets in their communities.

Forsyth Street served as the Fund Manager for the Stabilization Trust REO Capital Fund — a subsidiary of NCST that provides financing for the acquisition and rehabilitation of distressed property — from the fund’s inception in 2009 until its conclusion in 2019. Over its 10-year term, the REO Capital Fund made over $61 million in loans to twenty-two community-based organizations in fifteen states and the District of Columbia, facilitating the acquisition and rehabilitation of over 660 units of previously distressed housing.

United Nations Development Corporation
United Nations Development Corporation

The United Nations Development Corporation is a New York State public benefit corporation created in 1968 to assist the United Nations community with its office space and other real estate needs.

Since 2011, Forsyth Street has been a financial and real estate advisor to UNDC in connection with an anticipated bond financing for construction of a proposed new office building under consideration by the United Nations that would be leased by the UN and used to consolidate staff from other UN locations in New York City. Forsyth Street has assisted UNDC in various real estate matters relating to the transaction, including structuring of the transaction and participating in negotiations with the United Nations.

City of Baltimore Development Corporation

Coalition for Green Capital

Enterprise Community Partners

Los Angeles HCID

New York City Economic Development Corporation

Philadelphia Industrial Development Corporation

San Francisco Mayor’s Office of Housing and Community Development

The Ford Foundation

Utica Municipal Housing Authority

City of Pasadena

Cultural Heritage Finance Alliance

Hudson Square BID

NYC Department of Housing Preservation and Development

New York City Housing Authority

Philadelphia Redevelopment Agency

San Mateo County Department of Housing

USA Niagara / Empire State Development Corporation

Vital Healthcare Capital

Civic San Diego

Diego Beekman Mutual Housing Association

Local Initiatives Support Corporation

NYSERDA

New York State Housing Finance Agency

San Diego Housing Commission

Southland Development Authority

Upper Manhattan Empowerment Zone

Yonkers Housing Authority

 

Team

Bringing the right expertise to the job, while working from all over the continent

Chairman / CEO

Charles S. Laven

Managing Director, Financial Advisory

Julijs Liepins

Chief Operating Officer

Esther Sandrof

Sr. Vice President, California Local Lead

Daniela Greville

Senior Advisor, Financial Advisory

Marc Jahr

Vice President, Financial Advisory

Olivia Speck

Managing Director, Financial Advisory

Michael Freedman-Schnapp

Office Manager

Meghan Turville