Gateway offers predevelopment loans to entities that develop affordable rental housing, most often financed with the Low Income Housing Tax Credit (LIHTC) and/or HUD loans and grants. Predevelopment loans are a necessary tool for the creators of affordable housing products, enabling the developers to secure property rights and provide access to professional services necessary to assist developers in preparing applications to state housing finance agencies. The availability of low-interest predevelopment funds, from a lender who understands this sector of the housing market, is often crucial. Gateway provides this financing to assure an adequate supply of affordable rental housing in the community.
GCDFI Application for Predevelopment Loan Funds