Predevelopment funds to supplement land Acquisition

Share This Post

NeighborWorks Capital closed a predevelopment loan with Peoples’ Self-Help Housing Corporation (PSHH) in April 2020. This loan will assist with the acquisition of approximately 10 acres of vacant land in Santa Barbara County, California. This land will be used for a new construction affordable multifamily project of 75 apartments (including the manager’s apartment). Along with these apartments, a community center building, two playgrounds, half basketball court, community garden, barbecues with covered seating, and landscaped walkways connecting the buildings and community areas will also be constructed.  

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

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.

Read More »

Senior Accountant

The Senior Accountant will report to the Controller and will directly assist the Finance Team with a wide range of tasks and projects related to financial reporting, budgeting and forecasting.

Read More »

Visiting Rocky Mountain Communities

NeighborWorks Capital Portfolio Manager Vince Episcopo recently traveled to Colorado to visit Rocky Mountain Communities (RMC), an organization that has been providing affordable housing and resident-focused services in Colorado for over 30 years.

Read More »