Midwest Region

  1. NeighborWorks Omaha - $300,000

    Beacon Place will be a newly constructed 40 unit apartment building will benefit low and moderate income residents of Council Bluffs, Iowa which is across the Missouri River from Omaha, Nebraska. This pre-development loan will cover architectural, engineering and survey costs. This is NC's first loan with NeighborWorks Omaha. (2011)

  2. St. Mary Development Corporation - $1,841,500

    Deer Run Apartments is an 84 unit expiring use family LIHTC project located in Lawrenceburg, Indiana.This interim construction loan will cover the replacement of major building systems (roofs, siding, HVAC, windows, appliances, cabinets, flooring, and fixtures) to keep the property marketable into the future. NC provided $1.84 million in capital toward the $6.35 million construction loan, led by Community Housing Capital. This is the first loan with this borrower. (2011)

  3. NeighborWorks Dakota Home Resources - $162,984

    Caledonia Condos is a 10-unit for sale project for households with 80% AMGI. This interim development loan was used to fund costs related to acquisition of the property. (2005)

  4. CommonBond Communities - $720,000

    NC provided both predevelopment and bridge loans to assist in the conversion of this historic hotel in Marshalltown, Iowa into a mixture of 49 affordable rental housing units and commercial retail spaces. This is NC's first financing with CommonBond, a large upper Midwest district member of the NeighborWorks network. Nc's predevelopment loan provided critically needed working capital to move the project to financial closing; and the NC bridge loan enables the project to proceed with construction while awaiting the final allocation of State of Iowa historic tax credits. (2012)

  5. HomePort - $452,795

    City View Homes, Columbus, OH

    City View Homes is a 35-unit multi-family rental project consisting of 2-3 bedroom units for households between 40%-50% AMGI. This interim development loan was used to fund costs related to acquisition. (2006)

  6. Portage Area Development Corporation - $77,000

    Portage Housing II is a 25-unit single family rental project offering 3-4 bedroom units to households with 40% AMGI. This loan was used to fund pre-development costs associated with the project. (2001)

  7. Southwest Minnesota Housing Partnership - $142,000

    The McKay Apartments is the second Mini-Perm Acquisition loan with Southwest Minnesota Housing Partnership. This subordinate loan was used to assist in acquiring and preserving this 30-unit "market affordable" multifamily property while the owner determined capital needs and permanent financing options. (2012)

  8. Mennonite Housing Rehabilitation Services - $400,000

    French Quarter II, Rental Development

    This is NC’s first loan with Mennonite Housing Rehabilitation Services (MHRS). This $400,000 predevelopment loan was used for predevelopment expenses associated with the development of French Quarter, Phase II, a proposed 44-unit affordable general occupancy rental housing development financed primarily with Low Income Housing Tax Credits (LIHTC) and located in Wichita, Kansas. The unit mix will include one, two and three bedroom units to be rented to households with incomes 30% and 60% of the Area Median Income (AMI). (2014)

  9. HomePort - $200,000

    Whittier Landing is a proposed 40-unit rental property with 3-4 bedroom units for households between 40%-60% AMGI. This loan was used to fund predevelopment expenses associated with the project. (2009)

  10. Portage Area Development Corporation - $250,000

    Hudson Properties is a 472-unit affordable housing rental project located across 11 properties. This interim development loan was used to acquire the properties. (2003)

  11. NeighborWorks New Horizons - $1,500,000

    146 - 190 North Ivy Street; Brandford, CT

    This will be NC’s ninth loan to NeighborWorks New Horizons (NWNH). This $1,500,000 bridge financing line of credit loan is being used to bridge funding commitments from the State of Connecticut Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA). Funds will initially be utilized to support renovations to Ivy Street Apartments and Hubbard Woods Apartments, two projects currently owned by NWNH. During the first 30 months of the loan term, NWNH will be able to revolve the line of credit for additional projects that receive financing commitments from DOH or CHFA in place. The properties serve a diverse population – elderly, supportive housing, mixed-income, mixed-use, and workforce housing. Income levels vary from 25% to 110% of AMI. (2015)

  12. Homeport - $400,000

    Hilltop Homes Photo

    This is NC’s ninth loan with Homeport. This $400,000 predevelopment loan will cover predevelopment costs for Hilltop Homes II, a proposed 40-unit scattered site, single family lease-purchase homes 9% LIHTC project in Columbus, Ohio. The 40 single-family homes will be used as rental housing. Some of those homes will be substantially renovated to a quality similar to a new construction home. The project will be an urban infill, scattered site project financed primarily with Low Income Housing Tax Credit equity. This will target large families with incomes at 30%, 50% and 60% of Area Median Household Income. The project constitutes the second phase of the Hilltop Homes project. The first phase is similar in design and is located in the same neighborhood. Hilltop Homes I has 30 units and is 97% occupied with only one vacant unit. (2014)

  13. NeighborWorks Home Solutions - $520,000

    Beacon Place II Photo

    This is NC’s second loan to a project sponsored by NeighborWorks Home Solutions (fka NeighborWorks Omaha). This $520,000 interim development loan will be used for land acquisition and a portion of predevelopment expenses related to Beacon Place II, a proposed 60-unit affordable housing project in Council Bluffs, Iowa that is in in the early predevelopment stage. Rents will be comparable to those for Beacon Place 1 (pictured above), and affordable at 30%-60% of AMI. (2014)

  14. Beyond Housing, Inc. - $646,000

    Pagedale Senior Apartments

    Pagedale Senior Housing is a 56-unit multifamily rental project consisting of 2 bedroom units for households at 50% AMGI. This interim development loan was used to fund land acquisition costs associated with the project. (2009)

  15. Neighborhood Development Services - $120,000

    Portage Housing III is a 30-unit rental project offering 3 bedroom units to households within 50%-60% AMGI. This interim development loan was used to acquire the property. (2003)

  16. Community Housing of Wyandotte County - $400,000

    First-time NC borrower CHWC will use a $400,000 pre-development loan to build Villages at Bethany, an innovative affordable housing community for seniors totaling 139 units: 42 independent living units, 42 assisted living units, and 55 long-term care units. The project will be located in Kansas City, Kansas. (2013)

  17. Community Housing of Wyandotte County - $400,000

    Villages of Bethany Site Plan

    This is NC’s first loan to a project sponsored by Community Housing of Wyandotte County (CHWC) in Kansas. This $400,000 predevelopment loan will be used for predevelopment expenses related to Villages at Bethany Senior, an affordable housing community for seniors consisting of a total of 139 units: 42 independent living units, 42 assisted living units, and 55 long-term care units. The project will be located in Kansas City, Kansas. (2013)

  18. HomePort - $580,000

    Rich Street Condos is a newly constructed 18 unit condo development consisting of 2-bedroom units targeted towards households with 80% AMGI. This interim development loan was used to take out a bank construction loan on the remaining 5 unsold units and provide repair funds for the units prior to them being offered for sale. (2010)

  19. Neighborhood Development Services, Inc. - $180,000

    BLADES is an 11-unit single family affordable housing project for households with 50% AMGI. This interim development loan was used to fund costs related to acquiring the property. (2004)

  20. Lafayette Neighborhood Housing Services, Inc. - $8,000

    Old Jeff Apartments is a mixed use, 74-unit rental project consisting of efficiencies, 2-3 bedroom apartments and commercial space. This loan was used to fund predevelopment expenses. (2002)

  21. Southwest Housing Solutions - $900,000

    5716 Michigan Avenue

    5716 Michigan Avenue is a historic renovation and adaptive re-use of a shoe factory into community health and counseling center. NC used its interim development loan product as a leverage loan to this New Markets Tax Credit financed project. The Co-Leverage Lenders with NC were Detroit LISC and Living Cities. (2010)

  22. East Akron Neighborhood Development Corp - $150,000

    Stephenson Pointe is a 30-unit single family rental project for families at 60% AMGI. This interim development loan was used for relocation expenses associated with the project. (2005)

  23. Community Housing of Wyandotte County - $300,000

    This is NC’s second loan to a project sponsored by Community Housing of Wyandotte County (CHWC) in Kansas. This $300,000 interim development loan will be used to cover a portion of the costs of acquisition of a 60 lot subdivision know as Escalade Heights in Kansas City, Kansas. When completed, Escalade Heights is expected to include 16 lease-purchase single family rental units financed with Low Income Housing Tax Credits, and up to 44 market rate single family for-sale homes, all of which will be newly constructed. (2014)

  24. Homeport - $1,140,000

    This is NC’s eighth loan with Homeport and the $1,140,000 in interim financing will enable them to acquire the land on which Trabue Crossing (previously called The Enclave at Hilliard Run) will be built. The project involves the new construction of a 52-unit rental townhome community financed primarily with Low Income Housing Tax Credits. Attention to Universal Design standards ensure that the built environment of the project will serve residents of all ages without the need for adaptation or specialization. Four key needs of low and very-low income families are addressed - Education – an elementary school within walking distance; Jobs - close to retail employment, light industrial and distribution employment; Service Coordination – a Family Supportive Service Plan; and Transportation - local bus route offers easy access to a retail corridor and major employers with entry level employment needs. (2013)

  25. East Akron Neighborhood Development Corp - $150,000

    Queen Esther's Village is a 33-unit multi-family, senior housing rental project with 2 bedroom units for households between 40%-60% AMGI. This loan was used to fund predevelopment expenses associated with the project. (2006)

  26. HomePort - $175,000

    Eastway Village is a 66 unit rental housing project that will consist of one-bedroom mid-rise apartments and two-bedroom cottage style ranch units for low- and very low-income seniors (55 and over). The loan will be used to pay for design and financing expenses. (2011)

  27. HomePort - $150,000

    Enclave at Hilliard Run is a proposed, 54-unit for sale project. The units, consisting of three bedrooms each, will be targeted primarily to households with 50%-80% AMGI. NC's loan was used to cover predevelopment expenses associated with acquiring the property. (2010)

  28. Beyond Housing, Inc. - $895,688

    Pagedale Retail is a commercial project that brought the first chain grocery store to this community in more than three decades. It is the complimentary phase to the Pagedale Senior Housing project which will be constructed on an adoining site. This interim development loan was used to cover land acquisition expenses associated with the property. (2009)

  29. Neighborhood Development Services, Inc. - $90,000

    Lake Street is a 13-unit affordable housing project consisting of a mixture of rental and for sale units. This interim development loan was used to fund expenses associated with acquiring the project. (2004)

  30. Asian Americans for Equality - $5,900,000

    Hardesty Renaissance Building

    This is AAFE’s 4th loan with NeighborWorks Capital. AAFE requested a $6,500,000 site acquisition and predevelopment loan for 36 months at 5%, to acquire the remaining piece of an 18 acre redevelopment site in Northeast Kansas City, MO. Building 1 will provide up to 300 apartments for low-income households and 200 apartments for students and faculty. Later development stages will include business incubator space and commercial space for local nonprofits focused on community revitalization. AAFE has executed a Memorandum of Understanding with Northwest Missouri State University (NWMSU) for the university to lease an adjacent property (Building 11) to use for classrooms, offices, light manufacturing, laboratories, and a 70,000 SF rooftop “farm.” (2016)

  31. East Akron Neighborhood Development Corp - $150,000

    Village At New Seasons, Canton, OH

    Village at New Seasons is a 50-unit mixed use project consisting of senior housing multifamily rental and commercial space. This loan was used to fund predevelopment expenses associated with the project. (2008)

  32. HomePort - $500,000

    Whittier Landing is the development of 40 single family homes on scattered in-fill lots in Columbus, Ohio under a lease-to-own program, 20 will be newly constructed and 20 are being renovated. HomePort has been awarded Low Income Housing Tax Credits and will target households with incomes from 35% to 60% of Area Median Income. (2011)

  33. HomePort - $200,000

    HomePort used a Predevelopment Loan to cover third party fees and other up-front costs for this 35 unit scattered site, single-family, LIHTC project with a lease to purchase option development (units rented for 15 years then offered to the residents for purchase) for low-income households earning less than 60% AMI. (2011)

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  34. Neighborhood Development Services, Inc. - $278,000

    The Village at Harvest Hills is a 40-unit rental project offering 2 bedroom units to households between 40%-60% AMGI. This interim development loan was used to refinance existing debt service on the property. (2004)

Loans

  • Predevelopment
  • Interim Development
  • Mini-Permanent Loan for Operating Properties
  • Permanent Loans for Small Multifamily Rental Projects
  • Single Family Line of Credit
  • Multifamily Line of Credit
  • Strategic Growth Fund