Last week, the National Housing Trust Community Development Fund (NHTCDF) won a $2.5 million Capital Magnet Fund award to make acquisition loans to support the development and preservation of affordable housing in Maryland, D.C. and Virginia. Of the 116 applicants, the Capital Magnet Fund awarded a total of 38 organizations, 24 of which were CDFIs. This is NHTCDF’s first Capital Magnet Fund award.
The National Housing Trust’s CDFI focuses on high impact, innovative lending. We offer a full array of loan products in the Washington metropolitan region to support production and preservation of affordable housing where we work and live. Nationally, NHT offers affordable housing loan products for pre-development and bridge financing needs, community land trust acquisitions, energy efficiency and renewable energy and other opportunities where mission focused owners and developers could not achieve their goals without our creative, flexible and patient capital.
The Capital Magnet Fund provides competitively awarded grants to CDFIs and qualified nonprofit housing organizations to develop, rehabilitate, and purchase affordable housing and community facilities to serve low-income families. For more information, visit their website.