planning: Construction Financing

Montgomery County, PA

P.O. Box 311, Norristown, PA 19404-0311
Courthouse Hours: 8:30a.m. to 4:15p.m.
Phone: 610-278-3000
Website: www.montcopa.org

Construction Financing
California Community Reinvestment Corporation (CCRC) (California)
The CCRC is a nonprofit lending consortium that established the Workforce Housing Fund to help fill the finance gap that developers may face when building affordable housing in communities with high land costs.  This fund provides risk capital for more than 500 affordable units in California’s employment centers to help members of the workforce buy homes in the communities where they work.  This funding is aimed at projects with up to 75 percent of their units affordable to middle-income families (those at 120 percent of the area median income level or lower).  Click here for more information.
 
San Diego Smart Growth Fund (California)
The San Diego Smart Growth Fund is a $90 million private equity real estate fund that provides financing for workforce housing construction in the greater San Diego area.  This fund is managed by the Phoenix Realty Group and provides equity financing to third-party developers for the development of market-rate housing aimed at middle-income earners in and around San Diego.  For more information, visit the San Diego Smart Growth Fund Web site.