New Directions Housing Corporation (NDHC) recently closed on a $1,500,000 revolving predevelopment line of credit to support multiple developments in Louisville, KY. NDHC has five apartment projects and 2 single-family projects in their pipeline that will preserve or build more than 550 affordable apartments and homes, including substantial rehabilitation of several large, scattered–site rental properties. The line of credit will provide NDHC with funding to cover the design/engineering, legal, and application costs required to keep projects moving forward.
Learn more about NeighborWorks Capital’s competitively priced, fixed-rate loan capital that is available to members of the NeighborWorks network. Visit our lending solutions page for more information.
