Cluster 1

Detroit Housing for the Future Fund (DHFF) Detroit

Entities involved: City Government, Community Development Financial Institution (CDFI)

The Detroit Housing for the Future Fund (DHFF) is a fund comprised of private investment that will be invested into affordable housing development and preservation in Detroit. The DHFF is managed by Local Initiatives Support Corporation and was created in partnership with the City of Detroit as part of the … Read more >

District Opportunity to Purchase Act (DOPA) Washington D.C.

Entities involved: City Government, Non-Profit Housing Developer

The District Opportunity to Purchase Act (DOPA) is a preservation tool implemented by the DC Department of Housing and Community Development that promotes affordable rental housing by maintaining the affordable status of existing affordable rental units as well as increasing the total number of affordable rental units within the District. … Read more >

Small NOAH Program Saint Paul

Entities involved: Community Development Financial Institution (CDFI)

The Greater Minnesota Housing Fund (GMHF) is a Community Development Financial Institution (CDFI) that created the Small NOAH program to provide low-cost capital in the form of first mortgage, mezzanine and gap funding to small property owners to preserve unsubsidized affordable housing stock in communities throughout Minnesota. The Small NOAH … Read more >

Rental Improvement Fund (RIF) Philadelphia

Entities involved: Non-Profit Organization

Philadelphia Housing Development Corporation (PHDC) offers loans for small property owners owning no more than 15 units across no more than 5 properties are eligible for full forgiveness or a preferable 0% interest rate if landlords meet program affordability requirements during the loan term. Loan amount must be between $10,000 … Read more >

CIC Multifamily Loan Pool Chicago

Entities involved: Community Development Financial Institution (CDFI)

Community Investment Corporation’s (CIC) Multifamily Loan Program offers first mortgage financing for multifamily rental housing with 5 or more units, mixed-use buildings, cooperatives, Single Room Occupancy units (SROs), and special needs housing. The program has characteristics of a typical first mortgage lending program, but CIC’s Property Management Training, extensive community … Read more >

Acquisition Opportunity Program Boston

Entities involved: City Government

The City of Boston Mayor’s Office of Housing administers the Acquisition Opportunity Program. This program offers developers the opportunity to pre-qualify for a set amount of funding, up to $75,000 per unit. These potential buyers can then become more competitive in the real estate market. To pre-qualify for the program, … Read more >

NOAH Impact Fund Minneapolis, Saint Paul

Entities involved: Community Development Financial Institution (CDFI)

Greater Minnesota Housing Fund, a statewide Community Development Financial Institution (CDFI), officially launched the NOAH Impact Fund in June 2017 with $25 million from seven impact investors to acquire 1,000 units of rental housing and maintain affordable rents for 15 years. The NOAH Impact Fund partners with socially motivated investors … Read more >

Green Cost Share Minneapolis

Entities involved: City Government

The City of Minneapolis created the Green Cost Share connect property owners with a variety of energy savings programs including energy efficiency upgrades and solar installation. Multifamily rental property owners can apply for: The commercial and multifamily property owners with five units or more can apply for a City match … Read more >

Small and Medium Multifamily (SMMF) Loan Program Minneapolis

Entities involved: City Government, Community Development Financial Institution (CDFI), Land Bank, Non-Profit Organization

Small and Medium Multifamily (SMMF) Loan Program is a partnership between the Land Bank Twin Cities, Inc. (“Land Bank”), Local Initiatives Support Corporation (“LISC”), and the City of Minneapolis. The goal of the program is to get community control over small-to medium multifamily (SMMF) buildings defined as 2-49 units in … Read more >

Washington Housing Initiative Impact Pool (WHIIP) Washington D.C.

Entities involved: Financial Institution

The Washington Housing Initiative Impact Pool (WHIIP) is an approximately $115 million investment vehicle that targets after-tax returns equivalent to many traditional investment funds. The Impact Pool is managed by JBG SMITH Impact Manager, a subsidiary of JBG SMITH Properties. The Impact Pool provides mezzanine/second trust financing, coordinates placement of … Read more >

Naturally Occurring Affordable Housing Acquisition, Rehabilitation, and Subsidy Program Charlotte

Entities involved: City Government

Through the Pilot Naturally Occurring Affordable Housing (NOAH) Subsidy Program, the City of Charlotte helps developers acquire and preserve NOAH properties by providing them with an annual rental subsidy for a minimum of 20 years — or the duration of a deed restriction — at an amount not to exceed … Read more >

Small Buildings Program (SBP) Washington D.C.

Entities involved: City Government

The District of Columbia’s (D.C.) Department of Housing and Community Development’s (DHCD) Small Building Program (Program) provides financial assistance for limited systems replacement and other key repairs to eligible property owners of multi-family rental housing located in the District of Columbia (District). Repairs are expected to improve sub-standard housing conditions, … Read more >

Amazon’s Housing Equity Fund Nashville, Seattle, Washington D.C.

Entities involved: City Government, For-Profit Entity, Local Housing Authority, Non-Profit Organization, State Housing Finance Agency (HFA)

In January 2021, Amazon launched the $2 billion Housing Equity Fund with the goal of creating and preserving 20,000 affordable homes across three of its hometown communities—Washington State's Puget Sound region; the Arlington, Virginia/National Capital region; and Nashville, Tennessee—within five years. The Fund is designed to help moderate- to low-income … Read more >