CEDAC has provided early stage capital financing for non-profit, community-based developers building quality affordable housing in Massachusetts for 40 years. We provide non-profit developers with the predevelopment capital they need to move their projects from concept to construction.
Our loan products provide the funding to acquire property, hire a team of professional consultants to move a development forward, and leverage additional financing. CEDAC provides approximately $20 million in patient lending each year.
In addition to financing, CEDAC’s team offers technical assistance to help ensure these projects are a success. We work with community development corporations and other non-profit developers, large and small, to plan and implement project development.
For more information and for program guidelines, please visit the Application Forms & Guidelines page.
In 2016, through funding by the Kuehn Charitable Foundation, CEDAC established a new planning grant program to help non-profit corporations in Massachusetts explore the feasibility at the earliest stages of project development. Named for the foundation’s creator Robert H. Kuehn, Jr., the Kuehn Planning Grants will be up to $15,000 each and will be awarded to organizations for costs associated with affordable housing or economic development projects. There will be a preference for projects undertaken by small, community-based organizations, as well as mixed-use and/or mixed-income projects incorporating historic preservation, projects serving low- and moderate-income artists, supportive housing for vulnerable families and individuals, and smaller scale projects.
The City of Boston, CEDAC and LISC will capitalize a new acquisition fund. The goal is simple: create a loan fund to help qualified nonprofit affordable housing development partners compete in today’s real estate market. This fund will be used to acquire substantially vacant and underutilized parcels of land and buildings for future development as mixed-income and affordable housing. The funding will target Boston neighborhoods that are at risk of gentrification with potential displacement of long term residents. For more information, review the one-pager.
Construction begins on 51 affordable apartments in RevereFeb 26, 2020/
With market-rate apartments sprouting along Revere’s oceanfront, a new development is ensuring t...
Pelham affordable housing project gets some seed fundingJan 22, 2020/
A project to bring 34 affordable housing units to an Amherst Road property that features a former fly rod factory building and ...
Boston-Area Mixed-Income Asset Lands Construction FinancingJan 16, 2020/
NeighborWorks Housing Solutions has received $4.7 million in construction financing for Sycamore on Main, a mixed-income communit...