MacFarlane Partners Spins Out Impact-Focused Real Estate Firm, Eyes Equitable Urban Revitalization

SAN FRANCISCO, CA – Veteran real estate investment firm MacFarlane Partners has spun out LegacyFirst, a new company dedicated to transforming underutilized commercial real estate into “engines of economic prosperity.” The move reflects a growing trend within the industry towards mission-driven investment and highlights a long-standing commitment by MacFarlane Partners to fostering entrepreneurial leadership and social impact.

LegacyFirst, led by industry veteran and former MacFarlane Partners executive, is positioned to capitalize on the increasing demand for responsible and equitable real estate development. The firm will focus on urban revitalization projects, prioritizing community preservation and wealth creation opportunities for historically underserved populations.

“We’re seeing a fundamental shift in how investors and developers view their role in society,” explains one industry source. “It’s no longer enough to simply maximize returns. There’s a growing recognition that real estate can be a powerful force for positive change, and investors are actively seeking opportunities that align with their values.”

A History of Mentorship and Empowerment

The launch of LegacyFirst is not an isolated event, but rather the latest chapter in a decades-long tradition of entrepreneurial empowerment at MacFarlane Partners. Founder and CEO Victor MacFarlane is known for mentoring and sponsoring numerous executives who have gone on to launch and lead successful real estate companies. Names like Jair Lynch (Jair Lynch Real Estate Partners), John Green (The Green Group), Lorenzo Brooks (Brooks Urban Properties), Bryant Sparkman (Sparkman & Associates), and Francis Abrao (Avanath Capital Management) all share a history of mentorship under MacFarlane’s guidance.

“The firm has created an ecosystem where talent can thrive and build lasting legacies,” shares one source familiar with MacFarlane’s approach. “It’s a testament to their commitment to cultivating the next generation of real estate leaders.”

Focusing on “Parity Zones” and Impact Investing

LegacyFirst’s approach centers on creating what the firm refers to as “Parity Zones” – geographically defined areas where economic divides are bridged and equitable opportunities are created. This focus is exemplified by the firm's involvement in the ambitious Freedom West 2.0 project in San Francisco’s Fillmore District.

Freedom West 2.0 is a groundbreaking redevelopment of a 10-acre site, home to 382 existing co-op units. The project aims to rebuild all existing homes at no cost to current residents, ensuring the preservation of cooperative ownership and community wealth. It also includes the addition of nearly 2,000 new market-rate and affordable housing units, along with commercial and retail space, and a STEM Entrepreneurship & AI Innovation Center.

“This project isn’t just about building new housing; it’s about preserving a community and empowering residents,” explains a source involved in the development. “It's about addressing historical inequities and creating a more just and equitable future for the Fillmore District.”

The Freedom West 2.0 project is heavily reliant on collaborative funding from a variety of public and private sources, including Crankstart Foundation, Low Income Investment Fund, San Francisco Foundation, Common Spirit Health, and the City of San Francisco. State Senator Scott Wiener’s SB 593 was critical to securing financial backing for the project.

A Growing Trend in Mission-Driven Real Estate

The launch of LegacyFirst comes at a time when impact investing and ESG (Environmental, Social, and Governance) principles are gaining traction within the real estate industry. Investors are increasingly seeking opportunities that generate not only financial returns but also positive social and environmental impacts.

“We're seeing a shift in investor priorities,” says one real estate analyst. “They're realizing that responsible investing is not just a feel-good exercise; it’s a smart business strategy.”

LegacyFirst aims to capture this growing demand by offering a unique blend of institutional-grade investment management and a deep commitment to social impact. The firm is actively seeking partnerships with family offices, corporations, civic institutions, and large nonprofits that share its vision for a more equitable and sustainable future.

“We believe that real estate can be a catalyst for positive change,” says a source close to LegacyFirst. “We're committed to building projects that not only generate financial returns but also create lasting value for communities.”

Looking Ahead: Scaling Impact Through Innovation

LegacyFirst’s long-term vision extends beyond individual projects. The firm is actively exploring innovative financing models, sustainable building practices, and community engagement strategies to scale its impact across multiple markets.

“We’re committed to pushing the boundaries of what’s possible in responsible real estate development,” says one source. “We believe that by combining financial discipline with a deep commitment to social impact, we can create a more just and sustainable future for all.”

The launch of LegacyFirst is a significant development in the evolving landscape of real estate investment. As the demand for impact investing continues to grow, firms like LegacyFirst are poised to lead the way, demonstrating that financial success and social responsibility can go hand in hand.