The capital L&G raised so far will be used to build up to 4,000 new affordable homes.
The funding is the second round of the PRO Housing program, which allocates funds to communities in need of resources to build and access affordable housing.
Housing advocates are worried after the president proposed a 44% reduction in funding for the Department of Housing and Urban Development in 2026.
The bank secured its Freddie Mac Multifamily Targeted Affordable Housing Optigo certification, allowing it to underwrite debt directly for the agency.
NIMBYism, permits and fire marshals are all to blame for increasing housing costs, affordable developers say.
The Congressional Real Estate Caucus wants HUD, FHFA, Veterans Affairs and the Department of the Treasury to work together on a housing plan.
Work began earlier this year on a $55M effort to revive the former Cabana Hotel as mixed-income multifamily housing.
The federal government terminated all funding to the organizations in late February, with huge potential implications for the affordable housing sector.
Even after the government reopens, affordable housing experts expect a lasting impact in the affordable housing landscape.
The Colorado Housing and Finance Authority awarded tax credits to nine affordable housing projects statewide.
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