From its inception in 2000, the Housing Partnership Fund has provided early capital to Network members that are preserving or developing affordable rental homes. Eligible properties must meet minimum affordability standards: 20% of the homes must be affordable to residents at 50% of area median income (AMI), or 40% must be affordable to residents at 60% of AMI. Approximately two-thirds of the Fund’s activity has been in the support of acquisition and preservation of affordable rental homes, but there has been substantial investment in new construction as well.
We offer three products: Predevelopment Loans, Short-Term Acquisition Liquidity (STAL) Loans, and Mark-to-Market (M2M) Loans.
An example of a recent rental transaction by the Fund includes financing the acquisition of an existing apartment complex in Rockville, Maryland by the Montgomery Housing Partnership (MHP). The price for the rental community was reasonable; MHP wished to seize the opportunity to guarantee long-term affordability in a traditionally expensive rental market; the Fund made the financing possible.
For more information, contact Matt Perrenod.