Printer Friendly

NY gets $63M for housing.

Twenty-four New York community-based developers will receive $63 million this year for neighborhood renewal and affordable housing initiatives in some of New York's most distressed neighborhoods.

The money will come from a record $223-million corporate investment fund announced today by the Local Initiatives Support Corporation (LISC), the nation's largest community development support corporation. LISC announced that 60 U.S. corporations invested the unprecedented amount in its National Equity Fund 1992 Limited Partnership.

Of the 60 corporations involved in the 1992 Fund, 29 are based in New York. The $63 millio available for New York will be used to finance and leverage additional public and private dollars for 27 affordable housing developments. New York is one of 23 cities and regions across the nation that will receive NEF equity financing. nearly 6,800 units.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:New York, New York real estate developers receive money from corporate investment fund, National Equity Fund 1992 Limited Partnership
Publication:Real Estate Weekly
Date:Mar 17, 1993
Previous Article:BOMA report finds occupancies drop in '92.
Next Article:60% sales mark reached at affordable condominium.

Related Articles
Industry victor in budget plan.
Changing capital market reveals few vehicles.
Chemical creates $100M housing development fund.
Trends in real estate financing.
New mini-loan program for Bronx apartment houses.
Wilder Balter opens senior housing complex.
$15.5M Brooklyn development opens.
Housing stock: some life insurers are investing in funds that finance or develop affordable urban housing.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters