Welcome
The New Generation Fund LLC offers acquisition and predevelopment loans to developers committed to the creation and preservation of affordable housing in the City of Los Angeles.
Made possible through a partnership between the City of Los Angeles, national and local foundations and public and private investment groups in the City of Los Angeles, the Fund provides loans at the following general terms:
- Capital advance rates of up to 130% LTV for Non-Profit Borrowers and up to 95% LTV for For-Profit Borrowers
- Variable interest rate or Fixed interest rate option
- Loan terms of up to 3 years
- Limited Recourse down to 25% for Non-Profit Borrowers and 100% Recourse to For-Profit Borrowers
To find out how the Fund can help with your project, please contact one of our Underwriting Lenders listed below.
Recent News
On January 20th, Century Housing originated a $9.55 million loan to Thomas Safran & Associates for the new construction of 178 units of low income senior rental housing in the Del Rey area of Los Angeles.