NAAHL Statement on CDFI Fund’s Capital Magnet Fund Announcement

WASHINGTON, D.C. – (RealEstateRama) — Today’s historic launch of the Capital Magnet Fund begins an important new chapter for affordable housing and inclusive neighborhood revitalization.  High-performing community development financial institutions (CDFIs) and nonprofit developers will now have the growth capital necessary to mobilize responsible private financing and scale up the development of affordable housing. The $90 million of awards will generate at least $1 billion in new housing investment.

The National Association of Affordable Housing Lenders (NAAHL)

The timing could not be better. Working families and neighborhoods desperately need affordable housing and investment. These CDFIs and nonprofit developers have the experience and capability to deliver quality homes at affordable rents and prices. And NAAHL’s member banks, CDFIs, and other private capital providers are ready for partnership.

–Benson F. “Buzz” Roberts, President and CEO

SHARE
NAAHL

The National Association of Affordable Housing Lenders (NAAHL) represents America’s leaders in moving private capital to those in need, organizations committed to increasing private lending and investing in low- and moderate-income communities. Members are the “who’s who” of private sector lenders and investors in affordable housing and community economic development: banks, loan consortia, financial intermediaries, local and national nonprofits, and public agencies.

Contact:

Phone: 202.293.9850

Previous articleU.S. Treasury Annouces Over $90 Million in Awards for Affordable Housing
Next articleApartment Industry Applauds the Introduction of Middle-Income Housing Tax Credit Legislation