Community Housing Capital celebrates its 20th anniversary and uses capital for non-profit organizations that create and maintain affordable housing
After 20 years of continuous growth, seeking solutions to tough economic times and now a global pandemic, CHC remains an essential resource for the 240+ local community organizations across the country that directly meet local housing needs.
DECATUR, Georgia (PRWEB)
September 02, 2020
Community Housing Capital (CHC), a certified intermediary from Community Development Financial Institution (CDFI), has reached an exciting milestone. Founded in 2000, CHC celebrates 20 years of much-needed capital in the US to create and maintain affordable housing. CHC grants loans to members of the NeighborWorks® network and offers both early real estate development loans for the construction or renovation of residential properties and rental units as well as permanent multi-family loans with favorable rates and conditions. In November 2000, six founding members representing NeighborWorks nonprofits and socially motivated financial institutions came together to provide flexible and attractive funding for their membership. Today, after 20 years of sustained growth, seeking solutions to troubled economic times and now, a global pandemic, CHC remains an essential resource for the 240+ local community organizations across the country that directly meet local housing needs.
The current board of directors of CHC consists of 14 board members made up of several founding members and other leading figures in the housing industry. Her guidance has ensured a consistent focus on meeting the complex funding needs of these nonprofits, which focus on families and low- to middle-income individuals, including those who have historically been marginalized or marginalized in their communities. From 2000 to 2019, CHC made 492 loans to 145 network organizations totaling $ 809 million for single-family and multi-family projects. These nearly 20,000 homes in 44 states plus the District of Columbia generated $ 2.5 billion in local development. From FY 2016-2019, CHC’s lending created over 5,200 jobs. 91% of CHC borrower’s homes are affordable for families earning 80% of the median income of the area or less. 76% could be reached by public transport and 54% are preserved houses that were built or renovated with green elements.
Cindy Holler, President and CEO of CHC, attributes CHC’s success to listening to its customers, adapting to change, and its people. “Our credit and lending teams work very closely with our borrowers to meet their communities’ capital needs. Our back office team constantly adapts to the constantly changing needs of customers who take on more and more complex financing structures in order to enable affordable housing. ”Said. “We also hope to provide equity solutions to the NeighborWorks Network in the future – our communities have an overwhelming need for this type of capital to continue their mission more effectively.”
Over its 20 year history, CHC has used its relationships and experience to provide a full range of early stage and permanent financing even when some private lenders withdrew access to capital during economic downturns. Together, the CHC experts have more than 100 years of experience and share a passionate conviction: Everyone deserves a safe, high-quality place to call home.
“Despite several periods of national economic challenges, CHC has seen growth almost every year since 2000,” said Patricia Garcia Duarte, Chair of the CHC Board of Directors. “CHC was founded to help the nonprofit developers of the NeighborWorks Network accomplish an impossible task and make sure everyone is stable and housed in a secure environment. We can only live up to this enormous responsibility by standing firm on our mission, tirelessly striving for innovation and meticulously and strategically handling the resources that our investors have entrusted to us. ”
About Community Housing Capital
Community Housing Capital has created or maintained nearly 20,000 units of affordable housing through its lending and has achieved an overall development of $ 2.5 billion over its 20 year history. Community Housing Capital is headquartered in Decatur, Georgia. View CHCs 20th anniversary report and for more information visit https://www.communityhousingcapital.org.
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