News Archives
2018
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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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Mayor Muriel Bowser Details Plan for new Child Care Centers Across D.C.
LIIF has received a $9 million grant from Washington DC’s Office of the State Superintendent of Education to expand child care access in the city, with the goal of adding 1,000 new child care spots over the next three years. Learn more about this initiative.…
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Delancey Street Associates Opens First Building at Essex Crossing
Essex Crossing will bring affordable housing for seniors and families to Manhattan’s Lower East Side, while keeping health, job training and community services in the neighborhood. The ribbon-cutting ceremony was a homecoming for some once-displaced residents, and a celebration of the opening of one of New York City’s largest urban redevelopment projects. Learn more about the […]…
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