The Predevelopment Loan Program is an exceptional financing opportunity for community developers working on early stage development project focused on re-stabilizing existing neighborhoods. The developer borrowers may be non-profit or for-profit entities that are in the planning stages where the initial site control and other planning work is needed in advance of formal development or project financing. Designed for properties with a variety of potential uses, this flexible program typically serves during the planning stage on the redevelopment of rental or homeownership housing for low- to moderate income families. However, community-based mixed-use or commercial may also apply.
Predevelopment Property Type:
Future planned rental apartments, commercial buildings, community facilities or mixed-use commercial (storefront w/rental units above).