In August 2022, NIIF closed a revolving bridge loan for North East Housing Initiative (NEHI), a non-profit community land trust dedicated to providing permanently affordable shared equity housing in North East Baltimore. The $337,500 loan is part of a $750,000 facility led by National Housing Trust Community Development Fund (NHT), a national CDFI based in Washington DC that specializes in land trust lending.
This is the second loan to NEHI that NIIF has completed in partnership with NHT. The loan will cover the acquisition and hard cost for the rehabilitation of up to 10 homes in the Four-by-Four/Belair Edison neighborhood. The project is supported by funding from Baltimore’s Affordable Housing Trust Fund.
NEHI’s goal is to transform vacant, abandoned, and foreclosed properties into permanently affordable homes for people with an AMI of 80% and below, creating wealth and minority homeownership opportunities while helping to revitalize the Belair Edison Corridor.