LEO’s Sharon Crossing Community Named a Finalist for ULI’s Inaugural Housing Impact Awards
Charlotte community recognized for a subsidy-free acquisition model that can be replicated in other markets
BETHESDA, Md. — Sharon Crossing, a 144-unit community in Charlotte, North Carolina, acquired last year by LEO Impact Capital in partnership with the nonprofit Lotus Campaign, has been named one of four finalists nationally for the Urban Land Institute’s inaugural Housing Impact Awards.
Administered by ULI’s Terwilliger Center for Housing, the awards recognize developments that expand housing supply and affordability for lower- and middle-income households. The awards also seek to highlight innovative financing and models that can be replicated in other markets.
Through the Lotus partnership, up to 30 units at Sharon Crossing — or roughly 20% of the community — are reserved for individuals and families experiencing or at risk of homelessness, through the organization’s Landlord Participation Program.
“We are proud of what Sharon Crossing represents. The community is located in a high impact neighborhood in Charlotte and brings together people from all walks of life — those who have experienced housing instability alongside everyday renters. That combination of location and connection opens the door to long-term economic mobility for all of them,” said Brian Allan ‘AJ’ Jackson, President of LEO Impact Capital. “We’re grateful to ULI’s jury for recognizing that impact and to the Lotus Campaign for the close partnership.”
LEO acquired Sharon Crossing in November 2025 as the inaugural investment of the LEO Impact Housing Fund. In its announcement, ULI noted that the transaction relied on “conventional government-sponsored enterprise (GSE) debt rather than public subsidy, offering a fast, replicable model for preserving affordability at existing properties.”
“Sharon Crossing is the embodiment of Lotus Campaign’s mission, which is to bring together unexpected allies — real estate developers and landlords, social service agencies and philanthropists — to provide safe and stable housing for those in need,” said Beth Silverman, executive director of Lotus Campaign. “By partnering with an experienced impact investor like LEO, we are connecting people who have experienced housing instability with quality housing in a community where they can put down roots. The combination of housing and supportive services — plus time — is the key to our sponsored residents staying housed long term. Thanks to partners like LEO, we do this work without government funding and without having to wait for new construction. We hope this model can serve as a blueprint for expanding housing opportunities and building stronger communities in Charlotte and beyond.”
Winners will be announced in February 2027 at ULI’s Housing Opportunity Conference in Denver.
Read ULI’s full announcement here: https://americas.uli.org/uli-announces-finalists-for-inaugural-housing-impact-awards/
About LEO Impact Capital
LEO Impact Capital unlocks access to opportunity by acquiring and operating multifamily housing in high impact neighborhoods to maintain affordability for the market’s “missing middle” — everyday working renters who earn too much to qualify for assistance but increasingly struggle to afford rent. Across its portfolio, LEO served more than 3,200 households in 11 communities during 2025.
Guided by its evidence-based Impact Framework, LEO drives long-term economic mobility for residents alongside competitive, non-concessionary returns for investors, at scale and without federal subsidies.
LEO Impact Capital is a subsidiary of JBG SMITH (NYSE: JBGS), a publicly traded real estate owner and operator. More information can be found at www.leoic.com.
About Lotus Campaign
Lotus Campaign is a nonprofit that reduces homelessness by engaging the private real estate sector in the solution. By partnering with landlords, property managers, and social service providers, supported by philanthropic dollars, Lotus creates access to existing market-rate housing for people experiencing homelessness. Lotus covers application fees, renters’ insurance, and guarantees against loss of rent. Since its founding, Lotus has helped hundreds of individuals and families secure stable housing while proving that reducing homelessness is both possible and sustainable when housing, support and the gift of time are combined. Learn more at www.lotuscampaign.org
Media Contact:
George Spencer, Totus Strategies
george@totus-strategies.com