WASHINGTON, DC -- (Marketwire) -- 05/11/11 -- NeighborWorks® organizations around the country working to increase the energy efficiency of the more than 5,000 rental homes that they build and rehab annually, as well as their mixed-use projects, now have access to a new suite of flexible and affordable loan products from NeighborWorks® Capital.
NeighborWorks Capital, based in Silver Spring, Md., is an affiliate capital corporation of NeighborWorks® America, and has been responsible for nearly $1.2 billion in NeighborWorks affordable housing development over the past 10 years.
'NeighborWorks Capital's loan products are a real asset to NeighborWorks homebuilders,' said Tom Deyo, director of Real Estate, Community Stabilization and Green Programs at NeighborWorks America. 'Its ability to leverage grant funds from NeighborWorks America and attract market rate and social investor capital on behalf of affordable housing construction and rehab helps ensure that quality and affordable housing is built.'
'Energy efficiency and water conservation continue to be places where developers can bring savings for their customers and their projects,' said NeighborWorks® Capital Executive Director Jim Ferris. 'Our new loan products are priced to help keep NeighborWorks developers competitive in an increasingly tough and fast moving market.'
NeighborWorks Capital's green loan products are part of the broader NeighborWorks Green Initiative for healthy and sustainable communities.
An example of NeighborWorks America's green leadership is the symposium held recently in Los Angeles titled 'Green Choices, Green Value: For the Families and Communities We Serve.'
More information about NeighborWorks America green programs and examples of green housing development from the NeighborWorks® network, including a manual for nonprofit managers called 'Greening Your Nonprofit From the Inside Out: A NeighborWorks® Guide for Community Development Organizations' can be found at www.nw.org/green.
The mission of NeighborWorks® Capital (NC) is to serve NeighborWorks organizations (NWOs) by developing and enhancing resources for the acquisition, development, sale, financing, or ownership of affordable for-sale and rental properties and commercial projects. NC's exclusive purpose is to support the real estate development projects of these NWOs in their missions to preserve and create affordable housing opportunities for low and moderate income households, and to re-invest in deteriorated or otherwise blighted or economically depressed areas.
NeighborWorks® America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated $20 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals.