Creating Affordable Housing with the Institute for Community Economics
Affordable housing is an issue that affects every community across the nation. The Institute for Community Economics (ICE) works to solve this problem by providing flexible financing solutions focused on long-term affordability and shared equity models of affordable housing. This innovative approach gives low- and moderate-income renters, homeowners, tenant associations, and cooperatives across the country access to the support they need to secure affordable housing. Let’s take a closer look at how ICE works.
Making Affordable Housing A Reality
ICE is an affiliate loan fund of the National Housing Trust that provides affordable housing solutions in both rural and urban communities. To achieve this goal, ICE provides technical assistance grants, predevelopment loans, construction loans, permanent financing loans, and other financial products tailored to meet specific needs. These funds are given in amounts ranging from $25K - $5M+.
These funds are given via targeted investments that help bridge gaps in traditional funding sources like bank loans or government programs. By bringing together public and private resources as well as community partners such as nonprofits or local governments, ICE is able to create meaningful change through sustainable projects that benefit both communities and individuals alike.
The Impact of ICE
Since its inception in 1987, ICE has helped finance over 11 million square feet of development with a total investment of over $1 billion dollars. Through these investments, ICE has helped create nearly 6500 units of permanently affordable rental homes for families earning below 80% of their area median income; 5500 units for those earning below 50% median income; as well as thousands more units dedicated to seniors and persons with disabilities living on fixed incomes. Additionally, ICE has also provided critical support to thousands of community land trusts helping preserve affordability while giving individuals ownership rights to their housing unit without sacrificing access to essential services like healthcare or education. In short, when it comes to creating safe and secure affordable housing opportunities for all who need it most—ICE is leading the charge!
Providing access to safe and secure housing options is critical in empowering individuals not only today but also generations into the future. The Institute for Community Economics (ICE) offers an innovative solution that helps bridge gaps in traditional funding sources while creating long term permanent affordability--making a real difference in people's lives now and tomorrow! If you're looking for a way to make your mark on your community by creating meaningful lasting change—then look no further than ICE! Together we can bring about true comprehensive economic development through building strong vibrant communities where everyone can thrive!
Contact Information
Priya Jayachandran
CEO
1101 30th Street, NW Suite 400
Washington, DC 20007--377
pjayachandran@nhtinc.org