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Category: Affordable Housing

LIIF Attends Federal Reserve Bank of New York Multifamily Affordable Housing Event

LIIF staff today attended the Federal Reserve Bank of New York’s panel, “Exploring Institutional Investment in Multifamily Affordable Housing.”   It was a valuable opportunity to hear firsthand from investment managers like Catalyst Opportunity Funds and institutional investors like Goldman Sachs Asset Management about the role of institutional capital in financing apartments for low- and moderate-income…

LIIF’s Investment Recognized at Groundbreaking for Brooklyn’s Coney Landing

Today was the groundbreaking for Brooklyn’s Coney Landing, which will offer 178 much-needed affordable apartments, including 106 supportive units (see rendering below). From the press release:“As a longtime investor in the production and preservation of affordable housing in New York City, LIIF was proud to provide catalytic capital to make Coney Landing a reality by…

LIIF Provides Growing Housing Developers Project-Readiness Line of Credit to NYC’s CLOTH

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…

LIIF Catalytic Capital Finances Clairmont Family Apartments in Metro Atlanta

LIIF has closed a $12 million construction loan and an $830,000 Capital Magnet Fund (CMF) construction-to-permanent loan to Mercy Housing Southeast. This capital will finance the new Clairmont Family Apartments in Chamblee, Georgia. The affordable housing development will comprise 67 units for families earning between 30% to 80% Area Median Income (AMI). On-site wraparound services,…

Centering Developer Voices in Loan-Product Creation

CMC Development Group (CMC) is a real estate development firm working in the New York City and Atlanta markets. CMC and its Principal Shaun Belle (top photo, center) are part of LIIF’s Growing Housing Developers (GHD) cohort. Based on extensive input from CMC and other GHD developers, LIIF created a predevelopment line of credit for…

LIIF Loan to Mi Casa Inc. Set to Preserve D.C.’s Girard House as Affordable Housing

What’s “The LIIF Way?” We fill gaps in traditional financial markets, leveraging federal lending tools to strengthen historically undercapitalized communities. Take the case of Girard House, a three-story, 36-unit apartment building originally constructed in 1947 and located in the gentrifying Columbia Heights neighborhood of Washington, D.C. Mi Casa Inc., a nonprofit affordable housing developer, has…

LIIF’s Denise Noel Joins Nationally Acclaimed Elected Officials, Delivers Speech at Groundbreaking for Park Place at Addison Road Metro in Maryland

Looking to scale their affordable housing work in the DMV region, Banneker Ventures turned to LIIF for flexible catalytic capital, with our organization offering a low-interest $2 million unsecured predevelopment line of credit for multiple projects. On June 13, LIIF Executive Vice President and General Counsel Denise Noel was invited to speak at the groundbreaking…

LIIF Provides Line of Credit to Newark, New Jersey Developer Hamlett Management

LIIF has provided a $500,000 line of credit to help Hamlett Management grow as a multifamily developer. This development company, started in 2003 by Eugenia “Janey” Hamlett, works to strengthen the historically undercapitalized West Ward of Newark — the target of the City of Newark’s investment and focus of its affordability efforts through the West…