CEDAC is proud to report that we have committed $7,125,700 in early stage financing for the production and preservation of affordable housing in 6 projects during the third quarter of Fiscal Year 2022. Across the Commonwealth, we continue to see a healthy pipeline of housing development projects in urban neighborhoods and high opportunity suburban communities. CEDAC’s financial and technical assistance supports non-profit community development partners to plan and build these projects, helping navigate the housing development process during the predevelopment phase to secure site control, zoning and local permitting approvals, and finally construction and permanent financing commitments. As this year continues, we expect to assist in the creation of a large number of additional developments to meet the high demand for affordable housing from Massachusetts residents.
Read more about our lending commitments in Q3 of FY22.
Featured image: a rendering of East Boston CDC’s 2 Shawsheen Road project.