Over the past four decades, Massachusetts has established itself as a national leader in the production and preservation of affordable housing by its vibrant community development sector, and CEDAC has been an integral part of that accomplishment. For over 35 years, CEDAC has provided early stage capital financing and technical assistance to non-profit, community-based developers seeking to build or preserve quality affordable housing. Our loan products deliver capital efficiently to acquire property, hire architects and other consultants critical to moving a development forward, and leverage permanent financing to move projects into construction.

Along with financing, our expert staff – many of whom have developed affordable housing with non-profit developers – offer technical assistance to our borrowers. We work with community development corporations and other non-profit developers, large and small, to plan and implement projects. Each year, CEDAC lends approximately $20 million in patient capital to 50 affordable housing developments that produce and preserve more than 2,400 affordable units on an annual basis.

Affordable Housing
Affordable Housing
Gorham Street Apartments, Lowell
Coalition for a Better Acre

CEDAC’s early stage financing supports investment in affordable housing, and in the neighborhoods that our community-based developers serve. Our loan products, technical assistance, and patient capital have stimulated the production or preservation of 45,000 housing units in cities and towns throughout Massachusetts. CEDAC’s predevelopment and acquisition financing supports a wide variety of projects, with sizes ranging from just a handful of units to well over 100, locations that include urban, rural, and suburban, in mixed-income, mixed-use, rental, and homeownership projects throughout the Commonwealth.

Affordable Housing
Gorham Street Apartments, Lowell
Coalition for a Better Acre
Supportive Housing
Supportive Housing
Alta Brown – Resident of CHOICE Veterans Housing, Westford & Chelmsford
Chelmsford Housing Opportunities for Intergenerational and Community Endeavors, Inc.

For over 25 years CEDAC has managed on behalf of DHCD multiple state loan programs that use general obligation bonds to provide permanent financing for affordable supportive housing. These programs include the Housing Innovations Fund (HIF), the Facilities Consolidation Fund (FCF), Community Based Housing (CBH), and the Housing Preservation and Stabilization Trust Fund (HPSTF). Through these programs, over 682 projects have been completed, producing more than 16,240 units of supportive housing. Our projects serve elders, veterans, homeless individuals and families, and persons with disabilities, and other residents who need supportive services as well as affordable housing.

Supportive Housing
Alta Brown – Resident of CHOICE Veterans Housing, Westford & Chelmsford
Chelmsford Housing Opportunities for Intergenerational and Community Endeavors, Inc.
Housing Preservation
Housing Preservation
Chapman Arms, Cambridge
Homeowner’s Rehab, Inc.

Through our financing, technical assistance, and policy work, CEDAC plays a critical role in preserving affordable housing in Massachusetts. More than 4,000 units of affordable housing are preserved each year, in large part because of CEDAC financing through the Massachusetts Preservation Loan Fund and CEDAC’s technical skills to create innovative, effective policies to preserve existing affordable units.

Housing Preservation
Chapman Arms, Cambridge
Homeowner’s Rehab, Inc.
Lowell’s House of Hope opens new Shelter (Video)
Lowell Sun / Jul 19, 2017

The House of Hope celebrated a milestone expansion on Tuesday that has nearly doubled the number of homeless families it can serve. The nonprofit organization has opened a new 31-family property at 520 Fletcher St., w...

On the right track: New home for Metropolitan Boston Housing Partnership
Boston Business Journal / Jul 14, 2017

This fall, the Metropolitan Boston Housing Partnership — a nonprofit and the state’s largest regional provider of rental-housing voucher assistance — will get a new home of its own: a vacant two-acre parcel formerl...

Howland mansion coming back from the brink of destruction
South Coast Today / Jul 08, 2017

The stately 10,000-square-foot red brick mansion at 38 S. Sixth St. in New Bedford is a shell of its former self. On the outside, scaffolding flanks the Federal-Greek Revival and plywood remains on what were the home...

"It was amazing how quickly CEDAC was able to help turn over our application in response to an overwhelming need. Their support was critical in ensuring this project [New Hope II] came to fruition."
Deborah ChausseExecutive Director, House of Hope