Love Funding Highlights
Love Funding closed a $17.5 million loan for Broadway Townhomes, a 175-unit townhouse community in Camden, New Jersey, that is the first moderate rehabilitation project approved under a new national program to preserve affordable housing. The program allows proven financing tools to be applied to preserve and upgrade at-risk public and assisted housing, and provides for a long-term Section 8 rental assistance contract. Learn more.
Love Funding has arranged a $7.5 million HUD loan for the Union Arcade commercial building in downtown Davenport. The loan will be used to convert Union Arcade into a mixed-use, market-rate multifamily residential and retail space. Learn more.
Declining housing affordability has received a lot of attention over the past few years, and deservedly so. But while this challenge is well understood, declining rental affordability hasn’t been as much of a hot-button issue. By 2020, more than one million apartment projects backed by low-income housing tax credits (LIHTCs) will come to the end of their compliance periods, making them eligible for a return to market-rate rents. Learn more.