NeighborWorks Awards $35 Million in Affordable Housing Grants to Nonprofits

NeighborWorks America has awarded $35 million to 117 local NeighborWorks organizations and two affiliated capital corporations to rehabilitate or finance the rehabilitation of affordable housing nationwide.

The capital funding for the rehabilitation of affordable housing grants will enable local NeighborWorks organizations to develop or continue to fund: revolving loan funds for rehabilitation for owner-occupied property; rehab of residential rental housing currently owned by NeighborWorks organizations; rehab of newly acquired residential rental housing; and rehab of single-family homes.

The funding will enable organizations like NeighborWorks Blackstone River Valley, in Rhode Island, to upgrade and green all of the units of its oldest low-income housing tax credit development, and support other initiatives.