Clippers’ Chris Paul Teams With Turner Impact Capital on Workforce Housing Fund
Los Angeles Business Journal
February 06, 2017
Los Angeles Clippers’ point guard Chris Paul has partnered with Santa Monica-based real estate investment firm Turner Impact Capital to invest $264 million into affordable workforce housing.
The new fund, which closed at the end of last year, plans to invest in existing developments in areas where a high percentage of middle-income workers pay an outsized percentage of their wages toward monthly rent. The fund plans to stabilize rent prices while lowering operational costs, most notably by reducing resident turnover.