Mercy Loan Fund Provides Cesar Chavez Foundation $9.9 Million Loan

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LIIF, in partnership with Mercy Loan Fund, provided $9.9 million in acquisition financing to enable the Cesar Chavez Foundation (CCF), an experienced nonprofit housing developer, to acquire 280 units of affordable housing in Dallas, Texas. The property, The Park at Cliff Creek, will be preserved for more than 500 low-income residents at or below 60 percent of the Area Median Income. In addition to a complete rehabilitation of the property, CCF will also open a youth learning center on site that will provide after-school and summer programs for youth and teens that emphasize education, leadership, and life-skills development.

“LIIF believes integrated approaches like The Park at Cliff Creek, which links quality, affordable housing with an onsite learning center to support youth, are particularly important in increasing opportunity for low-income families,” notes Judi Kende, LIIF’s Senior Vice President, Eastern and Central Region.

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Source: Multi-Housing News