NeighborWorks Capital recently closed a $3,241,000 land development construction loan to Comite de Bienestar, the leading nonprofit housing developer in southern Arizona. NC’s loan will fund the development of 94 single-family lots in Bienestar Estates 11, part of Comite’s extensive development of affordable homes in San Luis, AZ. The project will include 36 Self-Help homes, adding to the more than 700 Self-Help homes Comite has developed over the past 20 years. The City of San Luis will also be developing a 19 acre park adjacent to Bienestar 11.
NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta, a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.