National Equity Fund

11/04/2021

NEF recently celebrated the grand opening of Bridge Meadows Redmond with long-time partner, Bridge Meadows. The innovative 36-unit intergenerational community in Redmond, Oregon, links adoptive families, foster children and seniors through a unique program of housing and volunteerism.

NEF is proud to support Bridge Meadows’ mission to develop and sustain intergenerational neighborhoods for adoptive families of youth formerly in foster care while also offering safety and meaningful purpose in the daily lives of older adults. Their unique and effective model exemplifies and promotes NEF's mission to create and deliver innovative, collaborative financial solutions to expand the availability of quality affordable housing.

https://www.nationalequityfund.org/2021/11/04/innovative-intergenerational-development-celebrates-grand-opening-redmond-oregon/

11/03/2021

This week, NEF closed an initial $85 million in investor commitments for its Emerging Minority Developer Fund (EMDF). NEF established the Fund in late 2020 to create access to equity capital resources in order to facilitate accelerated development capacity and wealth creation for Black, Indigenous and People of Color (BIPOC) developers who have not had proportionate and consistent access to .

EMDF was established to build the financial capacity and experience of emerging BIPOC developers to help them overcome today’s high barriers of entry in accessing LIHTC to create new . The Fund’s first deals are set to close in early 2022.

Thank you to our investor partners that committed to the first round of EMDF funding: Ally Bank, BMO Harris Bank, CIBC, Comerica Bank, Fifth Third Bank, KeyBank, PNC Bank, Truist and U.S. Bank.

/PRNewswire/ -- This week, National Equity Fund (NEF) closed an initial $85 million in investor commitments for its Emerging Minority Developer Fund (EMDF)....

10/22/2021

Congrats to MidPen Housing on the grand opening of Immanuel-Sobrato! We are proud to have worked alongside them to bring 108 units of permanent affordable supportive housing to chronically homeless residents in San Jose, CA.

Celebrating the start of construction for Immanuel-Sobrato. The San Jose community will provide 108 permanent supportive affordable homes for chronically hom...

10/19/2021

Congratulations to our partners at ACTION-Housing on the closing of Flats on Forward in the Squirrel Hill neighborhood of Pittsburgh, PA!

The new-construction, 6-story, mixed-used building will provide 43 units of on floors 3-5 along with 10,239 SF of retail space and 31 structured parking spaces. the 6th floor will offer a rooftop community room and terrace. Units will be targeted between 20%-60% AMI along with 25% of units designed as for individuals with disabilities.

10/14/2021

Congratulations to our partners at Walla Walla Housing Authority (WWHA) on the closing of Evergreen Commons!

The development is a planned 29- unit 3-story wood-frame new-construction property to be built in the Eastgate neighborhood in Walla Walla, WA. Consisting of 9 one- and 20 two-bedroom units, the building will provide a first-floor community room for residents and laundry facilities located on each floor. Units will be targeting households at or below 30-60% AMI providing permanent for individuals and families at risk of homelessness and a minimum of 6 units will be set aside for persons with chronic mental illness.

WWHA is serving as developer, general partner, and property manager. Their low-income housing programs include over 1,200 Section 8 Vouchers and 549 units. NEF has partnered with WWHA on several other developments, including a scattered site rehab project and Walla Walla Housing Preservation Portfolio. WWHA’s local expertise makes them an ideal developer for the Walla Walla community, and we are proud to continue working together to expand both our partnership and the availability of affordable .

10/14/2021

Congratulations to our longtime partners and friends at Housing Hope on the closing of Twin Lakes Landing II!

The new 60 unit, 4-building, garden-style community is located in Marysville, WA and is the 2nd phase of Twin Lakes Landing (the 1st is a 50-unit development east of the site). The new phase will consist of 6 one-, 34 two- and 20 three-bedroom units, targeting households at or below 30-50% AMI, also receiving project-based Section 8 subsidies.

The development will offer an array of services including case management and employment training. Each building will be 100% electric, their energy efficient design centering around the use of “superinsulation” heavily reducing the buildings’ heating load. The site will also include 18kW solar arrays on each roof and highly efficient electric water heating.

Housing Hope and NEF have a partnership that goes back over 30 years, and we are grateful to be able to continue working with such an experienced and driven team of affordable providers.

10/14/2021

Earlier this week, NEF had the pleasure of taking part in Rural LISC's Annual Seminar on Partnering for Investment in Rural America.

For the past 35 years, National Equity Fund has been a cornerstone in the arena with a vision that all people have access to that provides a foundation for them to reach their full potential. As we continue to expand our core LIHTC business and find innovative solutions to increase access to affordable , we are exploring opportunities to increase impact in rural communities.

10/12/2021

Congratulations to our partners and friends at Alliance Housing Inc. (AHI) on the closing of 3301 Nicollet! This will be our 7th project together. AHI fills a critical niche in Minneapolis’ marketplace, and we are proud to partner with them to expand the availability of quality affordable to those in need.

This new construction, six story, two elevator building will bring 50 studio and 14 one‐bedroom affordable apartments to Minneapolis, MN. The property will set‐aside units for tenants experiencing chronic homelessness and for persons with disabilities (mental illness and co‐occurring addiction). All 64 units will target households earning 30‐50% AMI. The property will include 4 fully accessible units and 2 visually and hearing impaired (VHI) units.

While the design and location of 3301 Nicollet encourages pedestrian friendly choices, tenants have various options of mobility to access jobs and amenities. The building will have secured, indoor storage for 35 bikes for tenants and an outdoor bike rack (3‐5 spaces) for visitors, helping promote community connectivity through bike mobility. The building will be designed and constructed to be at least 5% more energy efficient than what is required.

10/11/2021

Congratulations to our fantastic partners at Full Circle Communities, Inc. (FCC) on the closing of Torrence Place!

This new construction project will be a 3-story, 48-unit building designed for low-income households. Located in Lansing, IL, on 2.26 acres of land, there is a former bank building currently housing the Christian Community Health Center (CCHC) administrative staff that will soon be demolished.

The new building will include 3,344 SF of administrative space for CCHC, who will provide on-site supportive services to tenants. Residents will have access to a variety of on-site facilities such as a fitness room, and community center. Unit amenities will include universal design features as well as Energy Star appliances, microwaves, and kitchen pantries.

Full Circle Communities (FCC) is a Chicago based non-profit with 20 years of experience in the industry and we have a long history together having partnered on 10 previous developments. FCC’s mission is to expand access to quality affordable through preservation and development, thoughtful design, and the provision of significant and targeted supportive services to residents and the surrounding communities. With a mission that in many ways mirrors our own, it is no wonder NEF and FCC make such excellent partners in working to provide those in need with quality affordable .

10/08/2021

We are proud supporters of the Ohio CDC Association and hope you were able to join us this week in Youngstown at their 37th Annual Conference!

YOUNGSTOWN, Ohio — Nearly 200 community development professionals from across Ohio and the region will gather here and virtually next week for the 37th Annual Conference of the Ohio CDC Association. Meeting at the DeYor Performing Arts Center, DoubleTree by Hilton…

10/08/2021

Congratulations to our partners at Lawrence CommunityWorks (LCW) on the closing of Island Parkside Phase I!

This new construction 40-unit development is the first of two phases to be constructed on a 4.46-acre parcel in Lawrence, MA. When both phases are completed, Island Parkside will contain two residential buildings with a total of 80 affordable rental units along with a park, open space, and cultural/community facilities.

The subject property makes up Phase I of Island Parkside and will be a single 53,190 square foot, five-story building designed to meet the highest level of energy efficiency with the goal of Passive House Alliance US certification. It will be comprised of 7 one- 15 two- and 18 three-bedroom units. 19 units will be affordable at or below 60% of AMI, 5 units will be affordable at or below 50% AMI and 16 units at or below 30% AMI.

LCW is a nonprofit organization with deep roots in Lawrence. Along with a range of comprehensive community development activities, LCW has completed 8 prior affordable projects, including earlier phases of redevelopment of the island. Community developers are essential sources of local expertise and a critical part of our mission to address the need for quality affordable housing nationwide. We are excited to partner with LCW and hope to support them as they continue their crucial work.

10/06/2021

Congratulations to our wonderful friends at SOME (So Others Might Eat) on the dedication of the Anna Cooper House in Washington, DC providing 47 units of quality with supportive services!

Learn more about SOME's affordable housing initiatives and supportive services below.

SOME started out serving sandwiches to our hungry and homeless neighbors in 1970. We soon realized that these folks needed more than just a meal. Throughout our over 50-year history, we have expanded our services to include healthcare, addiction treatment, job training, and other crucial services. I...