Affordable Housing

Affordable Housing is the linchpin in most neighborhood revitalization strategies of community development corporations.  Since LISC began its work in Boston in 1981, funding housing has been a major activity.   LISC has provided financing to over 5,900 homes developed by CDCs and other nonprofit organizations in the Greater Boston area. Boston LISC has financed many innovative housing developments.

LISC has assisted Greater Boston CDCs in developing all manner of rental housing: apartments for families, homes for the elderly, limited equity co-ops (offering advantages of both home ownership and rental housing), assisted living, housing for special populations (such as people with AIDS or with mental disabilities).  LISC is actively assisting CDCs' efforts to preserve expiring use projects where subsidy contracts to private developers have run out after 20 or 30 years.

LISC provides funding and financing for homeownership developments of CDCs, including large urban sites on the scale of small sub-divisions and re-development of individual abandoned buildings scattered around neighborhoods.  The unique, older housing stock in the Boston area  - - many two-family houses and "triple deckers" -- has enabled CDCs to renovate deteriorated buildings and provide both new homeownership opportunities and  additional rental units owned by new owner-occupants of  refurbished  2-, 3- and 4-unit properties.

LISC is able to offer nonprofit housing developers a wide range of financing products, some of which are unique to LISC and most of which are offered at terms that are not available through conventional financing institutions.