Partners and Financial Review

2018 Community Lending

Erie Point
The Community Builders (TCB)  |  Cohoes, NY
$600,000 predevelopment loan
80 affordable/supportive housing units

Using Project Start Fund, Leviticus provided TCB a second predevelopment loan in 2018 to plan and prepare development of a 24-site project in Cohoes. The project entails a single 40-unit development that includes supportive homes and services for 24 survivors of domestic violence, plus 40 one-and two-family homes to be built on infill lots.


811 Lexington Avenue
IMPACCT Brooklyn  |  Brooklyn, NY
$650,000 predevelopment loan
60 affordable senior housing units

IMPACCT used this Project Start Fund predevelopment loan for a range of fees and legal costs required to launch development of a high-amenity rental apartment for low- and very-low-income seniors.  Eighteen of the units will be accessible for seniors at risk of homelessness and the design includes community space and a green roof with garden space.


BelovED Community Charter School
Jersey City, NJ
$600,000 construction loan
240 students served

Together having supported the land purchase, Leviticus again joined with New Jersey Community Capital to help BelovED build an expanded and high-quality middle school, which will extend its educational model and its exceptional success in improving achievement to more lower-income youth.


Atlantic Terrace Condominium Association
Brooklyn, NY
$71,254 construction loan
80 housing units preserved

This Association, which is comprised of low- and moderate-income members, needed this low-cost loan to cover the majority of expenses for exterior building repairs that are needed in order to pass local inspections and remain in operation.

 

Lifting Up Westchester (LUW)
White Plains, NY
$1,260,000 permanent loan
1 nonprofit supported

LUW sought this loan to refinance and lower its costs for a loan for its men’s shelter, a mortgage on its headquarters, and two other debts, allowing LUW to dedicate more capital to serving 4,500 vulnerable residents across Westchester County.


Wamsutta Residents Association (WRA)
North Attleboro, MA
$655,165 permanent loan
84 senior housing units preserved

Leviticus participated in this $2,537,000 loan led by ROC USA Capital, which lowered WRA’s costs for a 2011 loan from Leviticus and ROC that had enabled WRA’s seniors to buy their manufactured housing community and preserve its affordability. Over 60% of WRA’s homeowners are very low-income, earning around $40,600 a year.


First Baptist Housing Development Fund
Westhab, Inc.  |  Mamaroneck, NY
$89,000 permanent loan
6 units of affordable housing preserved

Westhab returned to Leviticus for two loans with low rates and flexible terms—a $51,300 secured loan and a $37,800 unsecured loan—to replace a damaged roof on a permanently affordable 6-unit apartment building that it manages.