Stories
Capital in motion.
Browse CHC loan activity stories by theme, from homeownership to NMTC-backed affordable housing.
Homeownership
ANDP on its Way to Developing 2,000 Affordable Homes by 2025
Nearly half of Atlanta residents are housing cost-burdened, spending over 30% of their income on housing costs. In some neighborhoods on the south and west sides of the city, more than 70% of residents are housing cost-burdened. With a $3 million acquisition loan from Community Housing Capital, the Atlanta Neighborhood Development Partnership (ANDP) will…
South Columbus, Georgia, to Get First New Homeownership Housing in in over 50 Years with $6 million NMTC Allocation
NeighborWorks Columbus (NWC) is one of five non-profit recipients of Community Housing Capital's (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $6 million NMTC allocation from CHC, NWC plans to construct approximately 26 single-family homes in South Columbus, Georgia's new Elliott's Walk subdivision. The subdivision is the first new…
CHC Subsidizes New Affordable Homes in Houston, Texas with New Market Tax Credits
Avenue CDC is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $5 million NMTC allocation from CHC, Avenue CDC plans to build approximately sixteen affordable homes at three different sites in the Northline community of Houston, Texas. CHC’s NMTC allocation and source loan…
Affordable homeownership for 3 families earning up to 50% AMI in Bristol, CT
In November 2021, Community Housing Capital provided a construction loan of $450,000 to Neighborhood Housing Services of New Britain (NHSNB). The loan will fund the simultaneous construction of three, affordable single-family homes just 2 miles east of downtown Bristol, Connecticut. In an area that has seen decreasing rates of homeownership in the last…
Built in Bremerton program helps eliminate foreclosed and vacant single-family homes
Community Frameworks initiated the “Built in Bremerton” program to help eliminate foreclosed, vacant, and distressed single-family homes in Bremerton, Washington. Through this acquisition-rehab sweat equity program, they have completed the rehabilitation and sale of 21, affordable, energy-efficient homes since 2013. Eleven of the homes were financed by…
Developing quality, affordable housing in Boulder, CO, so working families can afford to live there
It’s hard for most middle-income people to make ends meet in upscale Boulder, Colorado. With home costs in this ski-resort town averaging $850,000, many working people find that living in the city is just not affordable. Faced with impossible housing costs, many people struggle with long daily commutes from outside of the city.
Fund created to renovate blighted scattered-site single-family properties in New Jersey
In 2018, Community Housing Capital (CHC) and Calvert Impact Capital (Calvert) provided a $7 million line of credit to Community Asset Preservation Corporation (CAPC) to create a fund with almost unlimited flexibility to purchase blighted, scattered-site, single-family properties in New Jersey. Jeffrey Crum, CAPC’s Chief Investment Officer said, “CHC has…
NPH attracting higher-income professionals to live full-time on tribal lands
Karigan Estates is a project of the Navajo Nation, a master-planned, 113-acre site consisting of single-family homes, apartment complexes, townhomes, retail/commercial, and governmental offices. The Nation’s Division of Economic Development transferred 25 lots to (NPH), the designated developer when this phase began several years ago. NPH has provided…
Over $21 million invested in new single-family construction since 2009
Comité de Bien Estar (Comité ), a NeighborWorks network member building quality, affordable homes in San Luis, Arizona, has worked with Community Housing Capital (CHC) to build 185+ single-family homes since 2009. Including revolved usage of their line of credit with CHC, Comite has invested over $21 million for the construction of single-family affordable…
Successful Mutual Self Help program to help families build their own affordable homes
NeighborWorks® Great Falls (NWGF) has used its successful Mutual Self Help (MSH) program to help families build their own affordable homes in Great Falls, Montana since. 2005. However, they were in danger of running out of land to build on. It had happened five years earlier when they had to suspend the program for lack of affordable, vacant land. With…
ANDP on its Way to Developing 2,000 Affordable Homes by 2025
Nearly half of Atlanta residents are housing cost-burdened, spending over 30% of their income on housing costs. In some neighborhoods on the south and west sides of the city, more than 70% of residents are housing cost-burdened. With a $3 million acquisition loan from Community Housing Capital, the Atlanta Neighborhood Development Partnership (ANDP) will…
South Columbus, Georgia, to Get First New Homeownership Housing in in over 50 Years with $6 million NMTC Allocation
NeighborWorks Columbus (NWC) is one of five non-profit recipients of Community Housing Capital's (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $6 million NMTC allocation from CHC, NWC plans to construct approximately 26 single-family homes in South Columbus, Georgia's new Elliott's Walk subdivision. The subdivision is the first new…
Rental Housing Development
One of CHC’s Most Impactful Projects Under Construction
In 2016, Community Housing Capital (CHC) began working with the Little Tokyo Service Center (LTSC) to build 187 deeply and permanently affordable apartments in Los Angeles, California. Using a $4.6 million draw from its $5.5 million line of credit with CHC, LTSC acquired three adjacent sites. Combined with sites owned by the Los Angeles County Metropolitan…
88 Units of Deeply Affordable Housing Coming to South Seattle
With middle-income households struggling to find affordable housing in Seattle, Washington, it is even harder to come by for low-income residents. In 2018, Community Housing Capital provided land acquisition financing that helped the Low Income Housing Institute (LIHI), a nonprofit affordable housing developer with the NeighborWorks® network, control…
Nevada HAND to Add 150 Affordable Senior Apartments in the High-Cost Housing Market in Las Vegas
Community Housing Capital (CHC) has been helping Nevada HAND (NVH) turn vacant land into affordable housing since 2017, including the 480-unit Decatur and Alta affordable apartment community, NVH's largest affordable housing project. CHC’s most recent loan of $3.13 million financed the acquisition of five acres of vacant land on which NVH will develop up…
Partnerships Pushing Transformative Change in Virginia’s Housing Crisis
A continuing challenge for Better Housing Coalition (BHC), an experienced nonprofit, affordable housing developer in Richmond, Virginia, is the competition from market-rate developers with all-cash offers. BHC watches for properties that might otherwise be demolished or performing properties that BHC could manage to benefit vulnerable Virginians. Community…
$6.3 Million Helps Create Workforce Housing in the Aftermath of Hurricane Irma
Hurricane Irma struck the Florida Keys on September 10, 2017, and left this chain of islands with 1,200 homes destroyed and an additional 3,000 homes significantly damaged. As part of the recovery effort, Rural Neighborhoods (RN) will create three new neighborhoods in Big Pine Key, Monroe County, Florida. Community Housing Capital (CHC) provided $6.3…
62 Senior Apts Created with $12 million construction loan with a $3.6 million permanent loan
The Gainesville, Florida area caters to the students and young professionals drawn to the University of Florida. However, according to a Florida Housing Finance Corporation study, Gainesville has a severe senior housing shortage. The high demand was no surprise to the Neighborhood Housing & Development Corporation (NHDC), a highly successful nonprofit…
140 New Construction Senior Apts. serving 30%-80% AMI
DreamKey Partners , a leading nonprofit developer of affordable housing in Charlotte, North Carolina, has used $1,846,520 of its $13 million line of credit from Community Housing Capital to acquire a 6.3-acre site that will become the Johnston Oehler Senior Apartments. With low-income households currently priced out of Charlotte’s increasingly expensive…
$15 MM Construction Loan & $3.3 MM Permanent Loan Creates the 86-unit Valley View Apartments in San Luis, Arizona
Community Housing Capital (CHC) has provided Comite de Bien Estar (Comite) over $55 million in lending capital since 2009, including $27 million in Single-Family lending and $28 million for predevelopment, land acquisition, multi-family construction, and permanent lending. In its most recent project with Comite - the Valley View Apartments, CHC has been…
20 garden-style apartments dedicated to low-income farm labor households in Albany, GA.
Located in southwest Georgia, Albany has a diverse mix of low- to moderate-income workers employed in the agriculture, service, trade, and manufacturing sectors. Wealth Watchers , Inc., located in Jacksonville, Florida, is a Certified Housing Development Organization (CHDO) dedicated to providing communities with the highest quality of affordable housing…
480 unit mixed-income and mixed-use affordable housing community for seniors in Las Vegas, NV
In December 2019, Nevada HAND (NVH) acquired 19.62 acres of vacant land for one of the largest affordable housing projects in Nevada history. The Decatur Blvd. and Alta Drive site will be developed as a 60-unit affordable senior project with 420- family apartments and an additional 180 senior apartments plus street-front retail/commercial space. Community…
60 Homes for seniors and chronically homeless in Yuma, AZ
San Luis, Arizona, a rural border town in the southwestern corner of the state, has experienced rapid growth over the past six years, especially among seniors. Comite de Bien Estar (Comite), a NeighborWorks network member building quality, affordable homes in San Luis, Arizona, received a $225,000 Predevelopment Bridge Loan from Community Housing Capital's…
One Stop Homeless Services Center provides support services to homeless
Faced with a tremendous need to mitigate homelessness and gain supportive services for people with disabilities in Baton Rouge, Louisiana, the Gulf Coast Housing Partnership (GCHP) began to plan development and financing for the construction of a state-of-the-art facility to for affordable, permanent, supportive housing and services under one roof.…
Preservation
$10 million Line of Credit Preserves Houston Area NOAH Properties
In April 2021, Community Housing Capital approved a revolving $10 million line of credit (LOC) to Avenue Community Development Corporation (Avenue CDC). The loan enables them to compete with private-sector, all-cash offers to purchase multifamily projects that target residents with low- and very-low incomes. Avenue CDC plans several improvement projects…
$12 Million in Lending Capital Ensures Affordability for Two Apartment Complexes in Richmond, CA
Community Housing Capital (CHC) has provided two loans to Community Housing Development Corporation (CHDC) to refinance existing debt on two LIHTC-financed properties exiting the 15-year compliance period. First, CHC provided a $10 million loan to refinance Pullman Point, a 199-unit apartment complex situated in a series of five two and three-story…
136 apartments affordable to residents with income less than 60% AMI in Fort Mill, South Carolina
With a growing population and rising incomes in Fort Mill, South Carolina, multiple private investors submitted bids to acquire the Forest Ridge Apartments as soon as it went up for sale. The 136 units at Forest Ridge is one of very few affordable apartment complexes in this area and also is home to many workers who commute to Charlotte, North Carolina.…
50 apartments rented to elderly or disabled residents preserved long-term in Wash. D.C.
Community Preservation and Development Corp. (CPDC) came to Community Housing Capital (CHC) for a $17.8 million acquisition loan for the Randle Hill Apartments. This 96 unit rent-controlled property is a naturally affordable complex with 50 apartments rented to elderly or disabled residents or those with rental assistance vouchers. The remaining apartments…
Deteriorating apartments were redeveloped into 350 affordable apartment homes in Raleigh, NC
Built on 20 acres in 1950, Washington Terrace was already in need of a major renovation when it fell into foreclosure in 2012. There were 13 bidders on the project, and DHIC , Inc. won the bid due to its commitment not to displace existing tenants combined with its mission to retain affordable housing in the area. With a $3 million acquisition loan from…
Zero displacement policy in acquisition of Carrington Drive Apartments
The Minneapolis/St. Paul region has seen a dramatic increase in the number of investors who are targeting naturally occurring affordable housing (NOAH); in other words, properties that have aged into affordability. With the lowest vacancy and unemployment rates in the country, real estate speculators recognize that NOAH properties can command much higher…
FHLB Atlanta AHP
AHEAD, Inc. Receives $500,000 AHP Award for Workforce Housing
Affordable Housing, Education and Development , Inc. (AHEAD) in Bethlehem, New Hampshire has created a 28-unit, 9% LIHTC affordable multifamily apartment property that will target households earning up to 50% and 60% of the area median income (AMI). While Lloyd's Hill will offer family housing, the project is ideal for seniors due to its location within…
$500,000 AHP Award creates 71 affordable apartments in San Diego, CA
As a member of the Federal Home Loan Bank Atlanta (FHLBAtlanta), Community Housing Capital (CHC) sponsors several applications each year on behalf of its borrowers to receive an FHLB Atlanta (FHLBAtlanta) AHP award for up to $500,000 for the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. In November…
$500,000 AHP Award for Gap Financing to create 35 affordable apartments in Lewiston, ME
As a member of the Federal Home Loan Bank Atlanta (FHLBAtlanta), Community Housing Capital (CHC) sponsors several applications each year, on behalf of its borrowers, to receive an FHLB Atlanta (FHLBAtlanta) AHP award for up to $500,000. Recipients acquire, construct, rehabilitate, and/or develop affordable rental and ownership housing. In November 2019,…
With a $250,000 AHP Award, 20 townhomes are affordable to homeless persons, persons with special needs and veterans
In 2017, Community Housing Capital (CHC) sponsored an FHLB Atlanta AHP application on behalf of Southwest Housing Solutions (SWHS) for the Mack Ashland II project in Detroit, MI. FHLB awarded SWHS $250,000, and as part of that award, CHC agreed to provide permanent financing for the 29 townhomes and improvements.
AHEAD, Inc. Receives $500,000 AHP Award for Workforce Housing
Affordable Housing, Education and Development , Inc. (AHEAD) in Bethlehem, New Hampshire has created a 28-unit, 9% LIHTC affordable multifamily apartment property that will target households earning up to 50% and 60% of the area median income (AMI). While Lloyd's Hill will offer family housing, the project is ideal for seniors due to its location within…
$500,000 AHP Award creates 71 affordable apartments in San Diego, CA
As a member of the Federal Home Loan Bank Atlanta (FHLBAtlanta), Community Housing Capital (CHC) sponsors several applications each year on behalf of its borrowers to receive an FHLB Atlanta (FHLBAtlanta) AHP award for up to $500,000 for the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. In November…
NMTC
12 New Affordable Homes Planned for St. Paul, MN with $7 million NMTC Allocation from CHC
Daytons Bluff NHS (DBNHS) is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $7 million NMTC allocation from CHC, DBNHS plans to build new affordable homes in the higher-cost upper Midwest area of St. Paul, Minnesota. The project will include 11 new construction…
CHC Subsidizes New Affordable Homes in Houston, Texas with New Market Tax Credits
Avenue CDC is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $5 million NMTC allocation from CHC, Avenue CDC plans to build approximately sixteen affordable homes at three different sites in the Northline community of Houston, Texas. CHC’s NMTC allocation and source loan…
CHC’s NMTC Allocation Helps Baltimore NHS Create 30 New Affordable Homes
One of five NeighborWorks organizations selected by CHC for its first NMTC award was Neighborhood Housing Services of Baltimore (NHS). NHS will use the allocation to build 30 new homes in an area of sweeping economic development and revitalization.
CHC’s NMTC Allocation Helps Piedmont Housing Alliance Create Affordable Housing in Charlottesville, Virginia
One of five recipients of CHC's $30 million NMTC allocation is Piedmont Housing Alliance in Charlottesville, Virginia. They plan to use tax credits from CHC for two projects. One involves a neighborhood where the opportunity for wealth creation has been stripped away over 15- years of intense gentrification pressure. The other is part of a redevelopment…
12 New Affordable Homes Planned for St. Paul, MN with $7 million NMTC Allocation from CHC
Daytons Bluff NHS (DBNHS) is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $7 million NMTC allocation from CHC, DBNHS plans to build new affordable homes in the higher-cost upper Midwest area of St. Paul, Minnesota. The project will include 11 new construction…
CHC Subsidizes New Affordable Homes in Houston, Texas with New Market Tax Credits
Avenue CDC is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $5 million NMTC allocation from CHC, Avenue CDC plans to build approximately sixteen affordable homes at three different sites in the Northline community of Houston, Texas. CHC’s NMTC allocation and source loan…