For over 31 years, Community Capital New York has partnered with private and nonprofit real estate developers to expand affordable housing opportunities for low- and moderate-income individuals and families across New York State. As a flexible and mission driven lender, CCNY is committed to supporting affordable housing developers with both capital and technical assistance. Through a revolving loan fund, Community Capital New York works collaboratively and creatively to address the capital needs of affordable housing development projects. CCNY provides early-stage pre-development loans, acquisition loans, bridge loans , and construction loan financing.

CCNY supports new construction, rehabilitation, adaptive re-use, multi-family, single-family, mixed-use, mixed-income and supportive affordable housing for seniors, veterans, and people with disabilities or experiencing homelessness. CCNY provides financing to developers building both affordable homeownership and multifamily rental units. CCNY provides technical assistance when it is needed to help move affordable housing projects through development. CCNY finances high-impact community development projects through our lending program which supports the development of safe and high-quality affordable housing with is an essential building block for families and individuals and is linked to health and wellness, strong child and youth development, positive educational outcomes, employment opportunities and personal and neighborhood safety.

CCNY has financed the development of thousands of affordable homes throughout New York State and continues to support real estate developments which provide safe, quality homes that are affordable to low-income individuals and families so they can continue to live, work, and participate actively in their communities. We believe that affordable, high quality housing provides benefits to the whole community as well as to individual households.

The Ridgeway

Our Affordable Housing Lending Program Includes:

Pre-Development Loans: Terms up to 2 years

CCNY provides financing for upfront early stage project expenses including architectural fees, engineering fees, third party studies, environmental due diligence, legal and land use/permitting related costs.

Bridge Loan: Terms up to 2 years

We provide loans to support the development process while the developer is waiting for public subsidies to fund or tax credit equity to be available.

Property Acquisition Loans: Terms up to 2 years

We can combine an acquisition loan with a pre-development loan to enable developers to complete  the design  and approval process of their project while they apply for state and federal affordable housing funding subsidies.  We will consider loan amounts that approach or even exceed 100% of the value of the collateral.

Construction  Financing: Terms up to 2 years

We provide short-term financing for construction and disburse funds after review of completed construction work.

Westchester County Feasibility Loans: Pre-development loans up to $25,000 with a term of twelve months available only in Westchester County. In some cases, if these developments do not move forward to construction,  these loans may be forgiven.

Special Financing: We work with developers, on a case-by-case basis, to address financing gaps that don’t fit easily into other lenders’ portfolios.

We partner with both large and small nonprofit and private developers working across New York State including:

Our Impact Numbers

Units of Affordable Housing
Loans to Support Affordable Housing
Typical Loan Size

For more information about our affordable housing lending program, contact Elissa Bard, our Senior Vice President of Community Lending, using the form below.

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