Affordable Housing Lending
A safe, affordable home is one of the basic requisites of life—a key to individual health and well-being, and the foundation for sustainable, economically vibrant and diverse neighborhoods.
Housing is where LISC started. And it’s still the cornerstone of our mission, even as our vision has expanded to incorporate work to improve education, health, safety and economic growth in the places where we work. LISC helps make quality, affordable housing available to low-income and vulnerable residents—from seniors to veterans to the formerly homeless—in underserved communities.
LISC Massachusetts has financed nearly
13,000
affordable homes
Affordable housing has benefits that extend beyond the walls of a home to the community at large. It boosts spending and employment in the surrounding economy, brings revenue into local governments and reduces the likelihood of foreclosure.
Creation and Preservation of Affordable Homes
LISC Massachusetts supports community-based real estate preservation and creation through a variety of loan types:
- Predevelopment: Early stage investments in planning, design, and environmental and structural assessments for projects that are proceeding to construction. Proceeds are used to pay due diligence expenses, deposits and other predevelopment costs.
- Acquisition: Financing to help pay the purchase price and closing costs for property acquisition. These loans are generally made when construction and permanent financing have been secured or preliminarily committed.
- Transit-Oriented Development: Our Equitable Transit-Oriented Development Accelerator Fund provide developers with streamlined access to acquisition and predevelopment capital that can be used to acquire and advance strategic properties along transit corridors.
Financing Available
As a Community Development Financial Institution (CDFI) using funds to provide loans, equity, and grants is an essential part of LISC’s community development toolkit. We work in partnership with local grassroots groups, for-profit developers and government agencies to finance programs and projects that will have a positive, long-term impact.
Equitable Transit-Oriented Development Accelerator Fund
This revolving loan fund has invested in more than 1500 apartments near transit throughout Boston and Massachusetts since 2014.
