LIIF has provided a $2 million Growing Housing Developers (GHD) Project-Readiness Line of Credit to nonprofit Community League of the Heights (CLOTH). With this line of credit, CLOTH will continue to work on affordable housing projects in their pipeline in the historically undercapitalized Washington Heights neighborhood of Manhattan, New York.
ABOUT GHD: To increase the supply of homes that are affordable and to support the sustained growth and financial independence of experienced development firms working in communities, Wells Fargo launched Growing Housing Developers (GHD). Flexible and patient capital, a strengthened balance sheet, and increased access to industry connections and resources helps experienced development firms working in communities to grow their capacity and expand their affordable housing production into the future. LIIF’s CDFI partners in GHD are Capital Impact Partners and Reinvestment Fund.
CLOTH will continue to work on affordable housing projects in their pipeline in the historically undercapitalized Washington Heights neighborhood of Manhattan, New York.