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Category: Affordable Housing

Driving Affordability in Riverside, CA with Beaumont Apartments

Exciting news out of Riverside County, California: affordable housing is moving forward in a community that has been chronically under-supplied for years.  We’re pleased to share that LIIF closed recently on a $1.5 million unsecured predevelopment loan for Beaumont Apartments, a 66-unit affordable housing development at 6th Street and Xenia Avenue in Beaumont, Riverside County, California. The project sponsor is…

Breaking Ground for Supportive & Affordable Housing in Queens

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…

Preserving Affordability at Phipps Houses in the Bronx

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 ECE Team Joins Panel Discussion and Q&A at University of California, Berkeley

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,…

$8 Million Construction Loan from LIIF to Provide Affordable Homes for First-Time Homebuyers in Miramar, Florida

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…

LIIF Closes $3.76 Million Acquisition Loan for South Broadway Affordable Housing Project in Yonkers, N.Y.

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…

LIIF-Financed Trinity Central Flats Strengthens Affordability Across from Atlanta City Hall

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…

LIIF’s Natasha Dowell Delivers Speech at Groundbreaking for Brownsville Pointe in Atlanta

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…