Housing Development Lending
Leveraging Private Capital
The Housing Partnership Fund – a top rated Community Development Financial Institution (CDFI) - was created in 2000 to respond to members' needs for working capital at the earliest stages of a housing development. Despite its relatively short period of operation, the Fund received an outstanding AAA+2 CARS rating from the Opportunity Finance Network in 2006 for its performance, policy impact and financial strength. This outstanding rating was renewed in 2009.
The Fund provides short-term, equity-like financing which enables members to move quickly to acquire properties and land for affordable housing development, often in highly competitive markets.
The Fund's loans offer terms of one to three years and generally bridge public subsidies that are not committed at the time of acquisition. Loans support both single- and multi-family housing development and preservation. The Fund recently adapted its product lines to support pipeline redevelopment of foreclosed homes. Since its inception, the Housing Partnership Fund has pioneered innovative strategies for leveraging public and private capital. By combining equity from the federal government with investments from foundations and major financial institutions, the Fund enables our members to achieve maximum impact with limited resources.
For more information, contact Matt Perrenod.
The Planning Office for Urban Affairs (POUA) in Boston, MA used the Housing Partnership Fund to help finance the redevelopment of St. Aidan's Church into 59 units of mixed-income housing. The former church was where President John F. Kennedy was baptized.
