Category: Affordable Housing

Through the We Lift: Coachella Valley Housing Catalyst Fund, LIIF and partner Lift to Rise each provided Affirmed Housing half of the capital for two loans supporting their planned affordable housing community in Palm Desert: Palm Desert Family Apartments will comprise 298 units for community members earning 30%-70% of the area median income (AMI). Affirmed…

LIIF has provided Capstone Equities $8.85 million in early-stage catalytic funding toward their acquisition of a vacant 43.5-acre site in Oceanside. The San Diego County development will include Olive Park Apartments and a publicly accessible pedestrian connection to the existing College Boulevard Sprinter Station across 25% of the total parcel land area; the remaining 75%…

LIIF has provided catalytic capital to support SERP, the City of Raleigh and Wake County in their first partnership to construct 25 affordable rental homes across nine city-owned parcels, situated in residential neighborhoods within walking distance of Raleigh’s Downtown Central Business District. The SERP Small-Scale Scattered Site Project will include a mix of single-family homes,…

At tonight’s annual Community League of the Heights (CLOTH) gala in New York City, Vice President, Northeast and Mid-Atlantic Regions Kirsten Shaw accepted a “Community Service Award” on behalf of LIIF. She spoke of the fact that we’ve invested over $1 billion to finance projects that have created or preserved 100,000+ affordable homes. While LIIF is…

Today was the ribbon-cutting for Palm Springs’ Aloe Palm Canyon Apartments, a brand-new, 71-unit development that is now home to those aged 55+, with 25 units for seniors formerly experiencing being unhoused. With one-bedroom apartments available to households in the 20%-80% area median income (AMI) range, Aloe Palm Canyon is a major step in tackling…

Today was the groundbreaking for Clairmont Family Apartments in the Metro Atlanta city of Chamblee, Georgia. LIIF staff at the event were Jonny Newburgh, Felicia Echols, Dona Black and Natasha Dowell (bottom photo, left to right), with Dona honored to speak on behalf of our organization (top photo) and participate in the actual groundbreaking ceremony…

For most families, child care and housing are the two biggest expenses in the budget – and in many communities it can be a struggle to find affordable options. That’s why LIIF prioritizes “co-location” projects that include both affordable housing units and affordable child care facilities under the same roof. Last week, LIIF Senior Vice President, National ECE Angie Garling and…

LIIF has provided a $4.67 million acquisition loan and a $750,000 predevelopment loan to CRP Affordable Housing and Community Development (CRP) for their Pinnacle Pass project in Scotts Valley, Santa Cruz County, California. The LIIF acquisition loan utilizes $500,000 of Capital Magnet Funds (CMF) as credit enhancement, allowing the loan-to-value (LTV) to be 100%. A traditional bank…

LIIF congratulates Little Tokyo Service Center on today’s grand opening of the Umeya Apartments in Downtown Los Angeles. This newly constructed building will be home to 175 families and individuals, including 88 who were formerly experiencing homelessness. LIIF supported this development with an $8.5 million Golden State Acquisition Fund (GSAF) loan complemented by a $1.5 million…

We stand at an inflection point for community development finance that will determine whether CDFIs emerge stronger from current challenges or find themselves marginalized in an increasingly competitive landscape. That’s why 200+ nonprofit industry leaders, mission-focused industry partners, and investors and financing professionals headed to Charlotte, North Carolina this week for the Housing Partnership Network’s…