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