NeighborWorks Capital recently closed a $720,000 mini-perm loan to Eden Housing to refinance an older NC loan on the historic Skeels Hotel in Morgan Hill, CA. A small building with 13 affordable apartments and a noted restaurant on the ground floor, Skeels is a historic landmark, visited by the Crown Prince of Sweden in 1926! NC’s five-year loan allows Eden Housing to hold the property while they work to structure a scattered site recapitalization on several affordable housing properties they own in and around Morgan Hill.
Final FHFA Rule on Racial Equity, Language Access, and Fair Lending Oversight Will Aid Underserved Communities
A coalition of affordable housing and civil rights organizations applaud an announcement from the Federal Housing Finance Agency (FHFA) finalizing a rule on fair housing, fair lending, and equitable housing finance (EHF). The FHFA’s new rule on EHF plans will provide greater market access to underserved communities.