Category: Affordable Housing

Last Tuesday, LIIF closed a $15.9 million acquisition loan with Breaking Ground to finance their purchase of three parcels in Long Island City, Queens, which will ultimately feature hundreds of affordable housing units in one of the nation’s most prohibitively costly cities. On this site, Breaking Ground will develop a 248-unit supportive and affordable housing…

On Thursday, LIIF was proud to announce the closing of an $18.5 million construction loan with Phipps Houses to support the rehabilitation of two buildings in the Honeywell Development in the Bronx. Originally developed with Low Income Housing Tax Credit (LIHTC) financing in the 2000s, these properties have now exited their compliance period and require…

LIIF staff from the Early Care and Education (ECE) team in San Francisco recently joined architects from Dorman Associates for a panel discussion and Q&A with graduate students from the Terner Center at University of California, Berkeley as part of this year’s James R. Boyce Affordable Housing Studio course. LIIF team members included Angie Garling,…

LIIF has closed on an $8.14 million construction loan to ParcView at Miramar, a new affordable townhome development from Florida Development Corporation that will eventually feature 62 affordable townhomes. The initial, LIIF-financed stage will consist of 26 townhomes to be sold exclusively to first-time homebuyers earning up to 120% of the area median income (AMI) of this South Florida region. Moreover, thanks to $16 million invested from local governments and private foundations, homebuyers of these affordable townhomes will be eligible to receive up…

Last month, LIIF was proud to close on a $3.76MM secured acquisition loan for the purchase of South Broadway, a three-parcel site in Yonkers, N.Y. that will eventually be the home of 181 units of affordable housing and municipal parking in the coming years.   This NY Green Bank-qualifying project will deliver affordable, sustainable housing for residents earning 30–80% of area median income (AMI) and is designed to be…

The Atlanta City Council recently highlighted the groundbreaking of Trinity Central Flats, a LIIF-financed project, in a video that celebrated the consequential development and its importance to the revitalization of downtown Atlanta.     City Councilmember Jason Dozier joined the festivities marking the launch of the 218-unit affordable housing development in the heart of downtown, which sits directly across the street from Atlanta City Hall. Upon completion, all of the…

Together with Lift to Rise, LIIF is proud to have supported American Neighborhood Housing’s Vista Heights Apartments development, which will bring hundreds of affordable housing units to Murrieta, California. LIIF provided a $1.5 million predevelopment loan to advance the development of 214 affordable homes for individuals and families earning between 30% and 80% of area…

Today, LIIF Deputy Director, Coachella Valley Kenny Rodgers (photo, far left) joined elected officials, partners and community members for the groundbreaking at Coachella Valley Housing Coalition (CVHC) for JFM Seniors, which will offer 50 units, and JFM Family Apartments, which will feature 100 units. Via our partnership with Lift to Rise’s We Lift: The Coachella…

Today, Loan Officer Southeast Region Natasha Dowell joined Mayor Andre Dickens, developer Focused Community Strategies (FCS), partners, fellow LIIF staff and community members for the groundbreaking of Brownsville Pointe in Atlanta. Natasha Dowell’s Speech I am honored to be with you all here today as we celebrate this community win for Southwest Atlanta, and our City overall. Today is…

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…