GRHP RHDFC MULTI-FAMILY HOUSING TAX CREDIT FUND SPECIAL PROJECTS COMPANY INFO.

 

ROCHESTER EQUITY FUND

At the end of 2005, the Rochester Equity Fund has been capitalized at over $675,000.  These funds will be invested in 7 local developments of affordable housing, serving 180 low income families.  The Equity Fund was created to fill a gap in financing available for affordable rental and single family homes.  It was created by a consortium of non-profit housing developers concerned about a decrease in sources of equity funding.  The United Way of Greater Rochester responded to the need by issuing a funding challenge to local banks and foundations.  The United Way agreed to match $1 of funding for every $3 committed to the Rochester Equity Fund.  The Rochester Equity Fund is administered by The Greater Rochester Housing Partnership.

The Equity Fund has closed on seven investments to date:

  • Homequest 2, a Providence Housing Development Corporation program to reduce the cost of purchasing a home for low income families with a disabled family member. www.providencehousing.org
  • West Brighton Sr. Housing, a new apartment complex developed by the Urban League of Rochester for senior citizens.
    www.ulr.org
  • Susan B. Antony Apartments, a renovation of 35 apartments on First Street by Housing Opportunities. www.ruralinc.org
  • Kennedy Town homes Revitalization, the construction of 67 new apartments at scattered sites in the Plymouth-Exchange neighborhood in Rochester by Providence Housing Development Corporation.www.providencehousing.org
  • Clayton Heights, the new construction of 29 apartments for the elderly in Geneseo by Housing Opportunities. www.ruralinc.org
  • St. Michael's, the second phase of housing for the elderly in Rochester by Conifer.  www.coniferllc.com
  • Crowly House, a new group home in Lyons, serving adults with disabilities.  www.providencehousing.org

 

 

Rochester Equity Fund Investors

Bank of America

Bank of Castile

Canandaigua National Bank

Citizens Financial Group

Enterprise

HSBC Bank USA

M&T Charitable Foundation

New York State Senate-Joseph Robach

JP Morgan Chase Foundation

United Way of Greater Rochester

 

  

 

NEW PREDEVELOPMENT FUNDING

 To help stimulate the development of affordable housing opportunities in neighborhoods throughout Monroe County, Greater Rochester Housing Partnership is pleased to announce the availability of $100,000 of predevelopment funding.

Predevelopment expenses, such as, environmental reviews, market studies, architectural and engineering reports and options on land are eligible for funding through the Partnership's Predevelopment Fund.  Borrowers may be non-profit or for-profit developers or builders of rental or sale housing.

Applications are accepted at any time.  To view terms please click Term Sheet.  For an application click Predevelopment Fund Application.

 

 


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GREATER ROCHESTER HOUSING PARTNERSHIP