Yesterday, the Federal Home Loan Bank of Chicago (FHLBC) announced one of their 2017 Community First® Awards. The awards recognize outstanding achievements of the FHLBC’s member institutions and local partners that work together to strengthen their communities through affordable housing and economic development initiatives. Award categories include partnership, project or program, pioneer, and emerging leader. Award winners identify a nonprofit organization to receive up to $10,000. Cinnaire is proud to announce the FHLBC selected Beto Sanchez as the 2017 Community First Emerging Leader. The Emerging Leader category recognizes the potential of an individual who is new to the affordable housing and community development field. “The momentum of community development depends on those leading the efforts, so it’s exciting to recognize Beto as an emerging leader in the field,” said Suzi Thackston, FHLBC Community Investment Officer. “We look forward to continuing our partnership with Beto for years to come.” Beto began his career at Cinnaire in 2014 as an Underwriter in our Chicago office. In that time, he has accomplished significant achievements with his work in Affordable Housing Program (AHP) initiatives. “Beto’s contributions to our organization have made a tremendous impact on many fronts – most notably the AHP work we […]

... Read more »


We are disappointed the Trump Administration’s FY 2018 budget proposes to eliminate federal funding for the Community Development Financial Institution (CDFI) Fund. Our designation as a CDFI allows Cinnaire to fulfill our mission to support community stabilization and economic development by leveraging this critically needed federal funding with private investment dollars. For every one dollar of CDFI Fund funding, CDFI’s can leverage ten dollars of additional capital. These investments support economically distressed communities, provide affordable housing, support small businesses, develop community facilities and spur economic growth through job creation. While traditional banks measure their success in profits, CDFIs are mission driven financial institutions that work to deliver responsible, affordable lending to low-income communities and disadvantaged people. Our success is measured not only in numbers, but by the impact we create to improve communities. Cinnaire has provided more than 500 affordable housing and community development loans totaling nearly $400 Million. These loans have leveraged over $1.8 Billion in development costs, supporting nearly 15,000 jobs. 30,000 residents have been provided with quality, safe housing as a result. Additionally, in 2016, Cinnaire raised $214.2 Million in Low Income Housing Tax Credit (LIHTC) investments, supporting 2,588 units at 35 affordable housing developments. In our […]

... Read more »


Cinnaire recently celebrated the Grand Re-Opening for Detroit’s Colony and Fisher Arms Apartments. In 2013, Colony and Fisher Arms Apartments, one of the most problematic buildings in Detroit’s history, embarked on a 24 million dollar rehabilitation and historic restoration process. It required a multi-tiered source of financing, which included $3.6M Federal Historic Tax Credits, $15M Federal Low Income Housing Tax Credits, a $6M FHA loan, a renewal of Section 8 rental subsidy, $500K Federal Home Loan Bank of Indianapolis Affordable Housing Program Funds and vacant city owned property that was utilized for secure parking. Colony and Fisher Arms Apartments is a 161-unit apartment community that provides safe and affordable housing. Prominently located adjacent to Detroit’s Gold Coast, Indian Village, and East Village historic neighborhoods, Colony and Fisher Arms is a true representation of the revitalization efforts taking place in the city of Detroit. Not only are buildings and communities being revived, but lives are being renewed through these efforts. “It is a completely different place,” said Mayor Mike Duggan. “This is the quality we’re going to continue to build for the people of the City of Detroit.” With over one-hundred people in attendance, the event was a celebration to be […]

... Read more »