NeighborWorks Capital closed a $650,000 predevelopment loan with Chinatown CDC in September 2018. Our loan will give Chinatown CDC funds to complete the design, engineering, and preconstruction work for their Hamlin Hotel, a sixty-seven SRO building that houses formerly homeless single adults in San Francisco, ahead of a major rehabilitation of the building. Chinatown CDC has secured financing commitments from the Rental Assistance Demonstration Component 2 Program, City of San Francisco, and California Department of Housing and Community Development.
NeighborWorks Capital Deploys $22 Million to Fund Permanent Multifamily Loans in Partnership with Charles Schwab Bank
On August 30, 2022, NeighborWorks Capital received its largest investment to date, a $25 million facility from Charles Schwab Bank to fund permanent multifamily loans. One year later, NeighborWorks Capital is pleased to report that 90% of the facility has been utilized and $22 million of long-term, fixed-rate permanent financing has been deployed to members of the NeighborWorks network.
