the san diego

Middlemarch Fund

The San Diego Middlemarch Fund provides equity investments for the construction of rental housing units affordable to San Diego County families earning an average wage.

Our Mission

Our mission is to invest in affordable, scalable housing that does not require public subsidies, but thrives via a fund that directly invests in housing for middle-income residents.

What Are the Goals of the Middlemarch Fund?

The Middlemarch Fund provides equity capital with below market returns in exchange for restricting housing units between 80% and 120% of the region's Area Median Income (AMI).

Investments goals are $50,000 per unit restricted at 120% of AMI to $100,000 per unit restricted at 80% of AMI (minimum 30-year deed restriction with annual inflation factor).

Investment Objective


Contribute to the development of affordable middle-income housing within the San Diego County region.

Risk Adjusted

Achieve risk adjusted equity returns of 7%.


Contribute to the revitalization and stabilization of the neighborhoods in which the investments are located.