Financing Production and Preservation

The Housing Partnership Fund is a CDFI-certified lending affiliate of the Housing Partnership Network that provides members with short-term, equity-like financing for affordable housing rental and ownership development. The Fund offers subordinate acquisition and predevelopment loans that enable members to compete in the marketplace for properties and land.

The Network created the $30 million fund in 2000, investing $2 million of equity that leveraged $28 million of bank and foundation capital. The Fund has provided financing to 30 Network members to build and acquire more than 13,000 affordable homes valued at nearly $1 billion. Despite its relatively short period of operation, in 2006 the Fund received an outstanding AAA+2 CARS rating from the Opportunity Finance Network for its performance, policy impact, and financial strength. This outstanding rating was renewed in 2009.

The Fund's loans, which offer terms of up to three years, generally bridge public subsidies that are not committed at the time of acquisition. We underwrite the sponsoring organizations and the specific projects.

For more information, contact Matt Perrenod.