NeighborWorks Capital funded a $500,00 bridge loan with Affordable Housing Education and Development (AHEAD) Inc. in February. This loan provided AHEAD with additional capital to bridge the financing on their under-way construction project, Community Living at Lloyd’s Hills in New Hampshire as well as refinance the balance of NC’s existing loan for Better Homes AHEAD. AHEAD is waiting to close on construction financing from NH HFA and TD Bank- both of those are waiting to commitment from the LIHTC investor, also TD Bank. Community Living at Lloyd’s Hills will create 28 apartments (21 rent-restricted, 7 market) in four buildings with a community building.
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.