News Archives
2018
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More Real Estate Funds Aim to Preserve Affordable Housing, Boost Economic Development
Public and private entities are pooling their capital and stepping in to slow the erosion of the country’s affordable housing stock. The Low Income Investment Fund (LIIF), National Affordable Housing Trust (NAHT) and Morgan Stanley launched a new $100 million initiative in December aimed at protecting affordable housing for low income families across the country. […]…
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LIIF Lends $7.5 million for Silicon Valley Affordable Housing
LIIF, in partnership with the National Affordable Housing Trust and Morgan Stanley, has closed its second loan through the Fund to Preserve Affordable Communities. This loan will enable BRIDGE Housing to develop much-needed affordable housing in Milpitas, CA. Read more in Impact Alpha.…
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Princess Anne Townhouses Get New, Nonprofit Owner
The NHP Foundation, a national not-for-profit provider of affordable housing, has received an $8.7 million acquisition loan through the National Affordable Housing Trust, in partnership with the Low Income Investment Fund and Morgan Stanley, to purchase the Princess Anne Townhouses in Princess Anne, MD. The 120-town home property will be rehabbed and preserved as affordable […]…
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Affordable Housing NYC: Bed-Stuy Apartments Get ‘Long Overdue’ $9.4M Renovation
Renovation of 36 units of affordable housing for residents of Brooklyn’s Bedford-Stuyvesant neighborhood will keep affordable homes and social services for formerly-homeless families in the neighborhood, and prevent displacement in an area of rising rents. The preservation and renovation project, undertaken by New Destiny Housing with support from several partners, has ensured that families living […]…
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Low Income Housing In Bed-Stuy Gets $9.4M Makeover
A $9.4 million project to renovate 36 units for low-income and formerly homeless families in the Bedford-Stuyvesant neighborhood of Brooklyn opened in June, providing affordable housing and supportive services to longtime residents of the neighborhood. The project was funded by Enterprise Community Partners, Low Income Investment Fund, the New York State Housing Trust Fund, and […]…
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Community Coalition Strengthens its Home Base
Community Coalition (CC) in Los Angeles’ Vermont Knolls neighborhood sits in the middle of an area that lacks access to necessary social and human services. Support from LIIF and other partners helped CC renovate its headquarters and expand its work. Learn more in this CDFI Fund Impact Story.…
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Community Progress Makers Award Accelerates LIIF’s Early Care & Education Small Business Work
The Low Income Investment Fund (LIIF) has received a $500,000 grant from the 2018 Community Progress Makers Fund, an initiative of the Citi Foundation. These funds will allow LIIF to expand its Early Care & Education (ECE) work in New York City with an ECE Small Business Program. “Support from the Community Progress Makers Fund […]…
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New Markets Tax Credits Finance New Orleans Charter School
KIPP Believe’s new charter school will open this fall in New Orleans, consolidating two campuses and providing students with a state-of-the-art facility. This Purpose Built Communities project co-locates housing, child care and a health clinic on the school site. LIIF contributed $12.3 million in New Markets Tax Credits (NMTC) and partnered with Capital One and […]…
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MTC Approves Funds to Help Preserve Multi-Family Affordable Housing
The Metropolitan Transportation Commission has committed $10 million to establish a new revolving loan fund known as the Bay Area Preservation Pilot Fund. When it’s launched later this year in partnership with LIIF and Enterprise Community Loan Fund, this $49 million fund will help nonprofit developers acquire and preserve multi-family, transit-accessible affordable housing in the […]…
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$3.5 Billion in NMTCs Awarded to Spur Economic Development
LIIF was one of 73 community development entities to receive a New Markets Tax Credit allocation from the CDFI Fund. Our $60 million allocation will allow us to continue investing in high-impact projects that spur economic opportunity in low income communities. Read more about the allocations in Affordable Housing Finance.…
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