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 40 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 nearly 50,000 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 30 years CEDAC has managed on behalf of DHCD multiple state housing bond resources 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 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.
LISC Expands Funding for Affordable Housing Near Transit
LISC Boston / Feb 11, 2020

FOR IMMEDIATE RELEASE Contact: Karen Kelleher, LISC Boston 617.410.4343 | kkelleher@lisc.org Tia M. Vice, LISC Boston 617.410.4343 | tvice@lisc.org LISC EXPANDS FUNDING FOR AFFOR...

Local Initiatives Support Corporation Expands Funding for Affordable Housing Near Transit
Boston Real Estate Times / Feb 11, 2020

Local Initiatives Support Corporation (LISC) announced an increase in the Equitable Transit-Oriented Development Accelerator Fund (ETODAF or the Fund). The Fund is a revolving loan fund...

Belchertown Day School buys land at former State School site for early childhood education center
MassLive / Feb 05, 2020

Belchertown Day School has purchased two acres the former site of the Belchertown State School, where it plans to build a 8,600-square-foot early-childhood education center and afterschool f...

“We are proud to open the doors of our latest supportive housing development. Paige Apartments is desperately needed housing for young people on the path to successful adult lives.”
Debbie NutterPresident and CEO, The Caleb Group