Category: Affordable Housing

LIIF has provided four acquisition loans totaling $8.9 million to Verius Property Group Holdings (VPG), an affordable multifamily developer based in New Orleans. This early-stage catalytic capital will be put toward the acquisition of four properties, comprising 288 affordable units and located within one mile of each other in the Greater Chalmette area, just east…

LIIF CEO Daniel A. Nissenbaum today released this statement on the Housing for the 21st Century Act.________________________________________________________ LIIF applauds the U.S. House of Representatives for advancing the Housing for the 21st Century Act, which passed with overwhelming bipartisan support. At a time when communities across the country are grappling with rising housing costs and persistent…

Via the We Lift: Coachella Valley Housing Catalyst Fund with partner Lift to Rise, LIIF has closed a $750,000 predevelopment loan to Neighborhood Partnership Housing Services (NPHS), an organization that since 1991 has been advancing housing development across Southern California. NPHS was awarded three vacant parcels from the City of Palm Springs for the development…

LIIF has closed several loans to Visionary Home Builders of California (VHB) for their Manzanita Villas project in Rescue, California. Our organization provided a $2.875 million secured acquisition loan and a $750,000 unsecured predevelopment loan — which included Golden State Acquisition Fund (GSAF) dollars that enabled lower capital costs for VHB and lower balance-sheet risk for LIIF. Once…

LIIF has closed on a $1.6 million construction-to-permanent loan to Brownsville Pointe, a mixed-use project from Focused Community Strategies (FCS). This loan will finance the construction of 18 mixed-income apartments in Atlanta, Georgia and add sorely needed affordable housing units at a time of escalating housing costs for neighborhood residents.  Our organization worked with FCS,…

LIIF has served as agent to lead a CDFI co-lending arrangement, providing a $20 million secured acquisition loan to Breaking Ground, Slate Property Group and Settlement Housing Fund.  This early-stage financing will fund part of the nearly $300 million acquisition and predevelopment of the Stewart Hotel, a 28-story, 475,000-square-foot vacant hotel next to Madison Square…

Today, Vice President, Northeast and Mid-Atlantic Regions Kirsten Shaw (top photo, fourth from left) joined Commissioner RuthAnne Visnauskas from New York State Homes and Community Renewal, elected officials, developers and community-development peers at the ribbon-cutting ceremony for Phase I of Alafia, which comprises 576 homes in East New York. This $387 million mixed-use development is…

It was shovels in hand today for a collaborative of partners and community members who have made Palm Villas at Millennium Apartments Phase I a reality. LIIF and partner Lift to Rise provided developer Palm Communities a $750,000 predevelopment loan to support this Coachella Valley project in Palm Desert, California. This parcel will be transformed…

LIIF partnered with Community Vision to assist developer Burbank Housing in their effort to modernize West Avenue Apartments, a 38-year-old Sonoma County property in Santa Rosa, California that is home to households earning 30%-60% of area median income (AMI). Each organization provided half of a $9.75 million construction loan that offers bridge financing to the…

Today, Loan Officer, Southeast Region Natasha Dowell (photo, third left) joined community-development leaders at the fall meeting of the Urban Land Institute Atlanta’s Livable Communities Council. The agenda centered on Mayor Andre Dickens’ Place-Based Initiatives Strategy, with South Atlanta serving as a powerful case study for how community-driven revitalization can take shape. Natasha’s three key…