NeighborWorks Capital funded a $500,000 predevelopment loan with Codman Square Neighborhood Development Corporation (Codman Square) in February. This predevelopment loan, coupled with the $685,000 acquisition loan, allowed them to refinance their current maturing acquisition debt on properties in Dorchester, Massachusetts. Codman Square is in the process of developing 23 affordable apartments in their effort to assist in revitalizing these neighborhood blocks that are near the commuter rail station.
NeighborWorks Capital Deploys $500 Million to Catalyze Affordable Housing Development
NeighborWorks Capital has achieved a milestone of $500 million in loan capital deployed to support the affordable housing development, economic development, neighborhood revitalization, and resident and community services work of NeighborWorks network organizations across the United States.