NAAHL is the national alliance of major banks, CDFIs and other capital providers for affordable housing and inclusive neighborhood revitalization. Learn about the projects our members have developed to accomplish our mission below.
Community Preservation Corporation – Small Buildings: A Stabilizing Force for Communities
Small buildings are the foundation of the multifamily housing stock across New York State, and serve as a haven of naturally occurring affordability for low- and moderate-income renters. Investing in the quality and stability of the small building stock is critical to serving the needs of current and future tenants, and to promoting economic prosperity in neighborhoods large and small across the State.
As a mission-driven lender, CPC has long been focused on meeting the unique capital needs of our small buildings, as well as providing technical assistance to owners and operators. More than 70 percent of CPC’s investments since inception have been in small building projects — buildings with 5 to 49 units. That’s more than 3,000 loans to all types of borrowers.DOWNLOAD PDF
Capital One – Financing Supportive, Affordable Housing for Vulnerable Populations
Capital One provides a comprehensive and innovative approach to supporting affordable housing, a central part of creating healthy, thriving communities. We provide capital to finance a diverse range of affordable housing developments, including those built by nonprofits, local agencies and speciality developers. Since 2007, we have invested $11.6 billion in affordable housing, financed over 128,000 affordable housing units, and created more than 145,000 jobs.
Presented here are two properties that required creative approaches:
- Plaza West in Washington, DC has 50 affordable apartments reserved for “grandfamilies,” or older adults raising grandchildren or younger relatives.
- Harmon Apartments has 36 newly constructed apartments in Boston’s South Dorchester neighborhood, provides accessible supportive housing for people with ambulatory disabilities.
FHLB Des Moines – AHP Project Case Studies
Facing a shortage of housing options for homeless youth, Beacon created 39 units of housing in the Minneapolis suburb of Edina. They did this through an adaptive reuse of an existing commercial building.
In 2016, Beacon developed the 66 West project and teamed up with Edina Community Lutheran Church to offer high quality, permanent housing for 39 homeless young adults. The project site provides access to jobs, transit, and amenities.
Beacon applied a unique approach to build support and lay the groundwork for the project. Beacon achieved this by educating and organizing hundreds of individuals through their congregations. The community rallied behind the project, working with their elected leaders to become true partners in addressing this need. Over 225 people showed up at city-sponsored public hearings, asking their elected representatives to support the land use and funding approvals for 66 West. As a result, the Edina Mayor, and City Council members voted unanimously on land use approvals. They also voted on a City funding commitment of $550,000 through Tax Increment Financing.
Thanks to the overwhelming community effort and partnerships, homeless youth in the area now have a place to call home.DOWNLOAD PDF
JPMorgan Chase – Innovative Strategies for Revitalizing Communities
JPMorgan Chase recognizes that thriving neighborhoods are critical to the long-term economic success of individuals, communities
At a time when economic growth is often directed toward reviving commercial corridors and downtowns, many neighborhoods, families and small business owners are being left behind. As several key barriers to economic mobility are rooted in neighborhood conditions, cities need tailored, comprehensive strategies for economic growth that ensure opportunities to prosper are extended to distressed neighborhoods and the families that live there.DOWNLOAD PDF
Wells Fargo – Stress Testing Public Welfare Investments
Under the Comprehensive Capital Analysis and Review’s (CCAR) severely adverse scenario for banks subject to global trading shock, most public welfare investments (PWIs) in real estate (including affordable rental housing) are assumed to lose 62.9% of their value, except for a 2% loss rate for most tax credit investments. 1 While this loss rate may be appropriate for luxury apartment investments, affordable housing and other PWIs have performed much better through the financial crisis.DOWNLOAD PDF