Eligible projects:
- For existing properties or land to develop affordable housing
- Must be located within the City of Greensboro
Benefits of the Greensboro Housing Fund:
- Offers advantageous mezzanine financing
- Enables developers to save money that can be used to preserve affordability in housing projects
- Loans can be used to acquire, create, rehabilitate, refinance or preserve affordable housing units
- Access to in-house legal and real estate development expertise
- No prepayment penalty
- Low (1%) origination fee
GHF loans provide permanent gap financing for nonprofit and for-profit developers to acquire, refinance, create, rehabilitate, and preserve affordable multifamily rental housing in Greensboro
Greensboro Mezzanine Financing
Permanent Mezzanine Financing for Affordable Housing Properties
- Term: Up to 15 years
- Amounts: $250,000 to $8,000,000
- 3.50% and 5.0% rates available