San Diego Middlemarch Fund / Secoya on Fifth

In 2020, Civic Community Partners made a $400,000 equity investment into the San Diego Middlemarch Fund, which in turn invested in the 100-unit Secoya on Fifth project in Mission Hills, co-led by the development teams at the Murfey Company and Bishop Ventures. Under the Middlemarch model, developers agree to a 30-year income and rent restriction on a portion of units in exchange for below-market financing, which locks in affordability for three decades instead of a one-time subsidy. Secoya on Fifth completed construction in 2022 and was one of the first projects delivered through the Middlemarch Fund, which has since gone on to back additional middle-income housing developments across the region.