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When the Wisconsin Housing and Economic Development Authority (WHEDA) provided $1.9 million in financing for the construction of the Hawley Ridge Apartments, a facility providing 50 units for families in financial need, CRF purchased the original loan, infusing WHEDA with additional funds for other deserving projects.
Affordable Housing Solutions
Safe, accessible and affordable housing is essential for stabilizing lives, strengthening families and revitalizing the neighborhood economy. CRF works in both the multi- and single-family housing arenas to provide solutions that empower people to create healthier, more vibrant communities for themselves and their families.
Nationally, the shortage of multi-family affordable housing is severe. For every 100 low-income households, only 31 units are available. At CRF, we are committed to helping our partners create and preserve affordable housing in their communities. In addition to providing lending partners access to a greater supply of capital, CRF purchases Affordable Housing Multi-Family Loans with fair pricing, flexible terms and flexible underwriting criteria. Read more about CRF’s Multi-family affordable housing solutions.
In the wake of the foreclosure crisis, communities are searching for single-family housing strategies designed to rehabilitate foreclosed homes and increase homeownership and reinvestment in some of this country’s hardest hit neighborhoods. At CRF, we act as connectors and conveners, bringing local organizations together to develop solutions that meet the needs of their communities. Read more about how CRF’s single-family home mortgage solution is helping Detroit address its appraisal gap problem.