LISC Fund Management Launches $100 Million Kansas City Regional Housing Fund With More Than $25 Million Committed

KANSAS CITY — LISC Fund Management, LLC (LFM) launched the Kansas City Regional Housing Fund (KC-RHF) on Nov. 10, 2026, an impact investment vehicle that aims to raise $100 million to provide flexible, gap-filling capital for housing affordability projects across nine counties in Missouri and Kansas. Early investors, led by UMB Bank, have committed more than $25 million, and the fund is designed to help developers build and preserve as many as 5,000 units.

LFM is a wholly owned subsidiary of Local Initiatives Support Corporation (LISC). It supported development of the fund alongside the Greater Kansas City office of LISC (LISC KC) and the Mid-America Regional Council (MARC), and it will manage KC-RHF in collaboration with the LISC KC team.

Early Commitments From UMB Bank and Philanthropic Partners

More than $25 million has been committed by Kansas City–area financial and philanthropic organizations. The named commitments are:

• UMB Bank: $15 million
• Health Forward Foundation: $5 million
• Marion and Henry Bloch Family Foundation and The H & R Block Foundation: a combined $3 million
• Hall Family Foundation: $2 million

Additional funding comes from the Menorah Heritage Foundation and The Sosland Foundation.

Jim Rine, president of UMB Financial Corporation and president and chief executive officer of UMB Bank, n.a., said, "UMB is incredibly proud to invest in the Kansas City Regional Housing Fund to help address one of the region's greatest challenges. Access to affordable housing—and lower-cost capital to build them—is critical to meeting these needs and bridging the gap for many in our community."

David Miles, president of the Marion and Henry Bloch Family Foundation and The H & R Block Foundation, said, "Housing is foundational to the health, stability, and economic vitality of our communities. Addressing the region's housing challenges requires collaboration across sectors, and philanthropy has an important role to play in bringing partners and resources together." He added that the Bloch Family Foundation sees the fund as an opportunity to help catalyze additional investment, strengthen regional partnerships and expand access to quality, attainable housing for more families.

How the Kansas City Regional Housing Fund Will Deploy Capital

KC-RHF will deploy what the organizers call "catalytic capital," a form of financing that is more flexible than traditional commercial lending products and many public funding programs. The fund will support affordable, workforce and mixed-income housing, with an emphasis on projects serving households earning less than 80 percent of the area median income. It is designed to complement existing housing and economic development resources.

LFM will work with the LISC KC team on outreach and underwriting with developers and will oversee financial performance and impact measurement. The idea for the fund emerged from collaborative work over the past year by the Kansas City Regional Housing Partnership, an initiative convened by MARC and LISC KC.

Tiffany Durr, president of LFM, said KC-RHF pairs LFM's experience managing place-based housing funds in cities such as Charlotte, Dallas and Detroit with the local knowledge and relationships of LISC Greater Kansas City. "Together, we help developers fill critical financing gaps and bring transformative projects across the finish line," she said.

LFM manages 12 other impact investing funds, including eight focused on expanding affordable housing in specific cities. The firm has invested $887 million through 13 national and place-based funds and is a registered investment adviser with the U.S. Securities and Exchange Commission. Its 2025 annual report shows $598 million in impact capital under management, supported by more than 115 investors and funding partners, and indicates that its cumulative investments catalyzed $7.7 billion in development activity and contributed to the creation or preservation of more than 20,000 homes.

Regional Housing Shortage Drives the Fund

Geoff Jolley, executive director of LISC KC, said the Kansas City region faces significant housing availability and affordability challenges as rising costs and widening financing gaps make it harder for developers to deliver housing at the scale needed. The affordable housing gap in Greater Kansas City is near an all-time high at 69,000 units, which means families with low incomes must cut back on essentials such as food, clothing and medical care to pay higher rents.

Kansas City officials separately cited a 64,000-unit shortage within the city in 2026; the difference from the regional figure likely reflects varying geographies and methodologies. The city has also expanded its own public housing response, approving $16.4 million for 16 projects, its largest Housing Trust Fund allocation to date. Voters authorized $100 million in bonds to replenish the fund, and the city plans to distribute approximately $20 million annually for five years. KC-RHF is positioned to complement, rather than replace, that public funding.

Developer Information Session

Developers interested in KC-RHF can attend an online Developer Information Session on Thursday, Nov. 19, from noon to 1:15 p.m. CT. Registration is available through LISC.

LISC, founded in 1979, reports having invested $38 billion to create more than 550,000 affordable homes and apartments nationwide. In Greater Kansas City, it has invested more than $118 million in community development, supporting the creation and preservation of nearly 5,000 homes.

Outlook

The launch extends LFM's place-based model into a regional market spanning state lines. At the $100 million target, the fund would represent up to $20,000 of capital per targeted unit, while the initial commitments equate to at least $5,000 per unit; these are fundraising-to-unit ratios rather than development costs or subsidies. Converting the capital into up to 5,000 units will depend on factors including project pipeline, subsidy availability, construction pricing and interest rates.

Sources

• LISC Fund Management: New regional fund targets $100M to expand affordable housing, fuel economic gains in KC region