Predevelopment Loan Fund Program
During the past 40 years, since GMHC’s founding, high risk seed loans and development assistance have been provided to developers and organizations throughout the metropolitan area. Through its Predevelopment Loan Program, GMHC has enabled the creation of more than 23,000 affordable housing units serving low-income, disabled and elderly residents.
In light of the challenging financial and economic environment, current development under this program has significantly slowed. However, GMHC’s strong track record of supporting the development of affordable housing remains intact. Since 1971, a total investment of nearly $2 billion has been supported by the Predevelopment Loan Program.
Following are the types of affordable housing development supported by this GMHC program since 1971:
Preservation of Subsidies
Programs > Predevelopment Loan Fund Program