Global banking company Citi has announced its Blueprint for Housing Opportunity initiative, a $60 billion five-year housing affordability commitment dedicated to increasing the supply of housing via the creation and preservation of at least 250,000 units across the United States.
Also, the Citi Foundation will deploy $50 million in philanthropic grants to nonprofits addressing housing challenges and supporting the financial health of residents in their communities, starting with a $1 million grant to support the Center for Affordable Housing Lending.
“Housing affordability is one of the defining economic challenges of our time, and increasing supply is essential to addressing it,” said Jane Fraser, Chair of the Board and Chief Executive Officer of Citi. “By expanding the amount of financing we provide for affordable housing, we open possibilities for prosperity, helping more Americans secure housing they can truly afford. When people spend less on housing, they have more to invest in their families and futures.”
Citi said that as the top affordable housing lender in the nation for 15 consecutive years, it recognizes that housing is a foundational element of economic well-being and community stability.
Citi Community Capital (CCC), which is responsible for the majority of Citi’s activity in this space, financed more than $32 billion in affordable multifamily housing lending over the past five years, the company said. That includes $7.6 billion in 2025, which contributed to the creation and preservation of more than 35,000 units across more than 30 states.
Citi and Citi Foundation said they are committing to:
- Finance $60 billion in capital over five years for the acquisition, construction, rehabilitation and permanent long-term financing of housing that’s affordable for Americans. This financing will support a broad range of housing types, such as homes for essential workers, developments with supportive services and lower‑cost rental options in expensive markets.
- Deploy $50 million in Citi Foundation philanthropic grants to non-profits addressing local housing challenges, supporting the financial health of residents and investing in research that helps identify scalable solutions.
- Provide continued support for innovative for-profit companies tackling housing access and affordability challenges through the Citi Impact Fund.
- Advance public policy and advocacy efforts that help enhance supply, such as the Low-Income Housing Tax Credit program.
Citi said the commitment builds on its long track record of putting its capital, community impact and expertise toward improving housing affordability.
Complementary Program
The company said it complements Citi’s financial health resources, such as affordable mortgage programs, homebuyer education, and products and services that put homebuyers on the path to strengthening credit scores and increasing savings. Citi said it leverages research to inform solutions to housing affordability challenges, such as its recent analysis of the “mortgage lock‑in” effect and its impact on mobility and housing supply.
“The causes for the shortage of quality, affordable housing are complicated but ultimately come down to the imbalance of supply and demand. Increasing supply is where our financial capabilities can make the greatest impact and, through this commitment, we are significantly increasing the capital we are putting to work,” said Edward Skyler, Head of Enterprise Services and Public Affairs and Chair of the Citi Foundation. “We also recognize that housing is a critical building block for financial progress. That’s why we’re also providing philanthropic support to help people access the financial tools, services and opportunities they need for economic and housing security.”
Citi said that with this commitment, it will apply its financial capital to help leading developers and government entities build and preserve units that are affordable.
The banking company said it has supported affordable multifamily housing for decades by providing equity, loans for the acquisition, construction and permanent financing of multifamily housing and structuring expertise, the company said Critical to these efforts have been Citi’s partnerships with for-profit developers, local governments, community development finance institutions and other non-profit developers, reflecting a deep commitment to strengthening communities across the country.
“Housing gets built when there’s certainty of capital, clarity of execution and partners who stay the course,” said Rafael E. Cestero, Chief Executive Officer of the Community Preservation Corporation (CPC). “That’s where market-based solutions led by institutions like Citi make a difference. As a mission-driven organization focused on leveraging capital to strengthen communities, CPC understands that with the right financial partners, developers not only can move quickly from acquisition to completion but also keep affordability front and center.”
Foundation Announces $1M Grant
Citi Foundation announced a $1 million grant to the Center for Affordable Housing Lending, the nonprofit research partner to the National Association of Affordable Housing Lenders (NAAHL). The grant will help establish the Housing Supply Research & Fellowship Program to tackle challenges that are top of mind for policymakers and the housing finance community, Citi Foundation said.
“Affordable housing is one of the most pressing challenges facing communities across the country. Solving this problem requires investment in research, innovation, and mission-focused solutions,” said Sarah Brundage, President and CEO of NAAHL and the Center for Affordable Housing Lending. “Citi and Citi Foundation’s long track record reflects a commitment to finding tools that work and matching scale with on-the-ground expertise. Citi Foundation’s catalytic support will enable the Center to meet the moment and advance impactful affordable housing solutions.”
