NeighborWorks Capital is pleased to extend a $2 million predevelopment loan to Mutual Housing California (Mutual Housing) to support its mission to develop, manage, and support sustainable affordable housing where residents are partners in advancing equitable communities by adding to the supply of affordable housing to the Sacramento, CA region.
The loan replaces an existing revolving predevelopment line of credit used to develop the Lavender Courtyard Apartments, a trailblazing regional project constructing Northern California’s first LGBTQ-affirming senior housing, and new affordable rental projects in Davis and South Sacramento. This funding also supports upcoming projects, including the development of 4 new affordable rental properties over the next 3 years.
NeighborWorks Capital has extended 3 previous land acquisition loans to Mutual Housing and is proud to continue our partnership in support of their work to develop, operate, and advocate for affordable and sustainable housing and building strong communities through resident participation and leadership development.
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.
