Sold! Developers Buy Land With New Funds
Thanks to land banks and other real estate acquisition initiatives, affordable housing developers are meeting one of their greatest challenges: securing properties and sites on which to build. Through a collaboration with the Housing Partnership Equity Trust, CPDC was able to acquire Woodmere Trace in Norfolk, last year. This partnership and use of an innovative financing tool helped CPDC quickly secure long-term capital and compete with for-profit developers.
Sold! Developers Buy Land With New Funds, Affordable Housing Finance, 6/6/2014