Lending Services - Success Stories

Making a Difference in Lafayette

NHTCDF provided an $80,000 predevelopment loan to Lafayette Neighborhood Housing services (LNHS), in consortia with Neighborhood Capital Corporation, the help preserve and convert an historic school house into 74 affordable apartments for seniors in Lafayette, IN. In addition to the newly renovated apartment, the building includes 12,000 square feet of commercial space that will house LNHS homeownership and home maintenance workshops. Converting this recently abandoned historical high school to affordable rental homes was integral to City of Lafayette efforts to restore and preserve the surrounding neighborhood. The development was strongly supported by the City, the local school district, and many community organizations. 

NHT and NHTCDF Team Up to Help at Woodland Ridge

Sandi Williams, Executive Director of the Alamo Area Mutual Housing Association (AAMHA) in San Antonio, found a great property to buy: an aging 151-unit federally assisted apartment community serving low-income families. An experienced non-profit developer, AAMHA had not yet acquired a HUD property. So Sandi turned to NHT to help structure the financing and subsidy funding needed to preserve and improve Woodland Ridge while keeping the rents affordable. NHTCDF stepped in too, providing $135,000 of a $150,000 loan for pre-development expenses.

The project moved forward with the usual alphabet soup of loan sources, subsidy funds and tax credits. And no one had to move because of increased rents. Today, Woodland Ridge is a thriving community, enhanced not just by the property improvements, but by Alamo’s commitment to a rich resident services and development program. Key to this program is the learning center created in a vacant apartment at the property.

Woodland’s learning center is one of eight established by Alamo. Here, adults and children can participate in enrichment and community building activities. These on-site learning centers give residents the opportunity to take advantage of educational and asset building activities without the barriers of time and transportation. Program opportunities offered year-round include Leadership Development and Education, Pathways Youth Program, Community Wellness, and Economic Literacy.