(Read more on the debt and equity markets andthe multifamilymarket .)
WASHINGTON, DC-The Federal Home Loan Bank of Atlanta is awarding$1.6 million in affordable housing grants in the GreaterWashington, DC area. The grants are part of the $21.2-millionFHLBank Atlanta recently awarded to 10 states and the District ofColumbia to be used to create or preserve more than 2,000 units ofaffordable housing. Each year, FHLBank Atlanta sets aside 10% ofnet income to fund its Affordable Housing Program.
FHLBank has granted two affordable housing initiatives inBaltimore and Cambridge, MD more than $758,000 in grants. BayNational Bank and the nonprofit I Can't-We Can Inc. will use$258,705 to renovate a 48-unit building in Baltimore. ShelterDevelopment LLC and SunTrust Bank will use $500,000 to developCambridge Commons, a 96-unit apartment complex in Cambridge.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
