Codman Square Neighborhood Development Corporation recently closed on a $350,000 predevelopment loan for Talbot Commons II, a 42-unit multifamily affordable housing development that will be built to LEED Silver certification in Boston, MA. This loan increases the organization’s existing predevelopment loan with NeighborWorks Capital to support additional predevelopment costs for the project.
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.