Category: Affordable Housing

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 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 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,…

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’s goal over 40+ years has been to increase the flow of private capital into underserved communities — and to continue to attract new sources of capital with which to do so. Take the case of Aloe Palm Canyon Apartments in Palm Springs, California. LIIF is providing a $10 million construction loan in partnership with…

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…

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 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…

We are filling gaps in traditional financial markets to strengthen the historically undercapitalized Depot District community of Salt Lake City. LIIF has leveraged the Capital Magnet Fund to close on a $675,000 construction to perm loan for nonprofit Artspace’s Norbridge Court project. With LIIF’s funding, the developer can move forward with the extensive rehabilitation of…

With our nationwide investments now having preserved or produced 100,000+ units, LIIF was excited to participate in “Affordable Housing Month,” in partnership with SV@Home. On May 22, LIIF and the Silicon Valley Community Foundation co-hosted “It Takes a Village: Cross-sector Networking for Child Care and Affordable Housing Co-location.” This convening was a networking lunch for…