Riverstone Platform Partners & Monarch Private Capital Partner with Nonprofits on New Housing Initiative

Collaboration launches Hope Estates, a 38-unit supportive housing development serving foster youth, seniors and families in Kansas.

ATLANTA (GLOBE NEWSWIRE) — Riverstone Platform Partners and Monarch Private Capital are working with several nonprofit organizations — including EmberHope Inc., Metro Lutheran Ministries, Guadalupe Early Childhood Center and Missouri Lutheran Family and Children’s Services — to support new housing developments aimed at expanding community services and improving long-term outcomes for vulnerable populations.

The collaborations are structured so that Riverstone and Monarch each work directly with mission-based nonprofits, combining nonprofit service delivery with Riverstone’s development expertise and Monarch’s impact investment strategy. The groups describe this approach as building “hope infrastructure,” or housing developments that provide stability, supportive services and opportunities for residents.

The most recent example of this approach is Hope Estates, a new housing development under construction in Newton, Kansas. The project is located at 900 West Broadway Street on the EmberHope Youthville campus.

Hope Estates will include 38 units across nine two-story buildings and is designed to serve young adults aging out of foster care, low-income seniors, and relative-kin or foster families. Groundwork is underway, and completion is expected in the first quarter of 2027. The project’s development cost is estimated at $13.58 million.

For this project, EmberHope serves as the lead nonprofit partner. Riverstone Platform Partners is the developer, and Monarch Private Capital invested in the State LIHTC.

“This effort shows what is possible when we align development with mission-driven service,” said Kelley Hrabe, principal at Riverstone Platform Partners. “Each nonprofit partnership is an investment in people and the long-term health of the community.”

Nickaila Sandate, president and CEO of EmberHope Inc., said the development fills a critical need for youth transitioning out of foster care. “Hope Estates is designed to provide stable housing and access to supportive services that help young adults gain independence,” Sandate said.

Steve LeClere, partner at Monarch Private Capital, said the firm’s involvement reflects its commitment to advancing community priorities. “Our role is to bring capital that strengthens mission-based work and expands affordable housing opportunities,” LeClere said.

Hope Estates will offer units affordable to households earning 30% to 60% of area median income and will connect residents with services including case management, counseling, education pathways and employment readiness programs.

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About Riverstone Platform Partners

Riverstone Platform Partners focuses exclusively on the development and operation of workforce, attainable, and affordable housing. With a proven track record of delivering projects on time and within budget, Riverstone pairs disciplined project management with a deep commitment to resident well-being and community impact. Each development balances financial stewardship with meaningful social outcomes—ensuring that housing is both sustainable and transformative.

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About Monarch Private Capital

Monarch Private Capital manages impact investment funds that strengthen communities by creating clean power, affordable housing, and jobs. Its funds provide predictable returns through federal and state tax credits in affordable housing, historic rehabilitation, renewable energy, and film. Headquartered in Atlanta, Monarch maintains offices and professionals across the United States, partnering with institutional and individual investors, developers, and lenders to advance sustainable economic growth.”