Cinnaire has announced the closing of the $55 million Ubuntu Fund, an equitable access fund developed to support affordable housing development with underinvested developers in the Midwest region. The creation of this fund was made possible through the investments of leading financial institutions – JPMorgan Chase, PNC Bank, KeyBank, and Fifth Third Bank. The fund […]
Cinnaire Lending Corporation (CLC), a certified Community Development Financial Institution has been awarded a $5 million Equity Equivalent investment, or EQ2, from Fifth Third Bank. Cinnaire Lending will leverage Fifth Third’s $5 million commitment to provide financing to developers for the rehabilitation and construction of affordable for-sale homes, multifamily housing and community facilities in Illinois
Fifth Third Bank Loan Opens Doors for Cinnaire’s Community Development Work in IL, MI Read More »
When the people have a voice in building and bettering their community, everybody wins. That is exactly what is going on in west Michigan as Cinnaire’s New Markets Tax Credit (NMTC) team recently closed on a multipurpose community hub project led and shaped by more than 250 engaged neighbors and stakeholders. The Boston Square Community
Residents spearhead community hub project focused on health equity in SE Grand Rapids Read More »
Cinnaire’s Advancing Communities Podcast features Cinnaire team members having conversations with thought leaders, policy makers and others who are making a difference in the community development industry. In this episode, Chris Neary, Cinnaire SVP Policy and Advocacy, sits down with Richard Rothstein, the author of two important books — The Color of Law: A Forgotten History
Award Will Spur Projects that Support Education, Vocational Training and Job Opportunities in Disinvested Communities Cinnaire has been awarded a $60 million New Markets Tax Credit (NMTC) allocation from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund). These tax credits incentivize private sector investors to partner in community financing efforts. Cinnaire
Cinnaire Awarded $60 Million in New Markets Tax Credits from U.S Treasury Department Read More »
Cinnaire recently joined Hope Network, Grand Rapids Mayor Rosalynn Bliss and community partners to celebrate the groundbreaking for Eastpointe Commons, a $40 million affordable housing development on Fulton Avenue East in Grand Rapids, MI, spearheaded by Hope Network, a leading statewide nonprofit organization committed to transforming and rebuilding lives across Michigan. Eastpointe Commons aims to
Cinnaire Joins Hope Network & Partners to Celebrate Eastpointe Commons Groundbreaking Read More »
Cinnaire has announced the appointment of three new Board members. The new members join the organization’s Board of Directors to provide strategic direction supporting continued growth around Cinnaire’s commitment to investing in people and places to transform communities. “Sarida, Fred and Amandula have each demonstrated a remarkable commitment to our mission and industry,” said Mark
Cinnaire Welcomes Three New Board Members Read More »
Cinnaire has announced the first funding round for the Delaware Catalyst Fund, a $20 million fund investing in affordable housing in Delaware communities, will open May 15th. The Catalyst Fund is a partnership between Cinnaire and the Delaware State Housing Authority (DSHA) designed to address vacant property in communities in Delaware disproportionately impacted by the
Cinnaire has announced Sarah Greenberg has been appointed President, Cinnaire Lending. Sarah brings more than 19 years of experience to the role, serving most recently as Cinnaire’s Senior Vice President, Affordable Housing and Lending where she oversaw real estate lending and played a key role in structuring the lending department to support Cinnaire’s continued growth.
Sarah Greenberg Appointed President, Cinnaire Lending Read More »
Ivy Tech Automotive Technology Center One of Five Businesses Receiving 2022 Novogradac Journal of Tax Credits Award Cinnaire has announced its NMTC development, Ivy Tech Automotive Technology Center in Indianapolis, has been recognized with a prestigious 2022 Novogradac Journal of Tax Credits Real Estate QLICI of the Year Award. The Novogradac Journal of Tax Credits Community Development QLICIs
Cinnaire NMTC Development Recognized with National Real Estate QLICI of the Year Award Read More »
Chris Neary, Cinnaire’s Senior Vice President for Policy, Research and Advocacy, provides an update on the Build Back Better plan, an omnibus signed into law and potential reform to the CRA in the latest issue of Policy Pulse. Click here to see the March 2022 edition of Cinnaire’s Policy Pulse https://conta.cc/3IFJJJQ
Cinnaire’s Policy Pulse – March 2022 Read More »
The Federal Home Loan Bank of Chicago (FHLBank Chicago) is granting $29.2 million through its Affordable Housing Program (AHP) General Fund to help finance 49 housing projects located primarily in Illinois and Wisconsin. These funds will support the acquisition, rehabilitation, and new construction of over 2,315 housing units. Cinnaire received a $5.3 million award to
