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.
Baker-Polito Administration Awards $4 Million for Early Education Programs
Governor's Office / Aug 15, 2018

The Baker-Polito Administration and the Community Economic Development Assistance Corporation (CEDAC) today announced $4 million in grant awards for facility improvements at early education and care programs that serve ...

Sergeant House receives $7.2M tax credit
Daily Hampshire Gazette / Jul 25, 2018

A $7.2 million tax credit will fund the renovation and expansion of the Sergeant House affordable housing complex on Bridge Street starting next year. The state Department of Housing and Community Development awarded ...

Baker-Polito Administration Announces $57 Million to Support Affordable Housing Development Across Commonwealth
Governor's Office / Jul 25, 2018

Administration also allocated $33 million in tax credits to support creation and preservation of nearly 1,500 housing units DORCHESTER — Today, Governor Charlie Baker announced this year’s affordable rental hous...

“With a vision to bring the community back to life, Urban Edge, Jamaica Plain NDC and Hyde Square Task Force have worked together for many years to redevelop Jackson Square. CEDAC has played an integral role in this initiative.”
Karen RoystonBoard Chair, Urban Edge, Inc.