Invested in Los Angeles
Created or Preserved
The New Generation Fund offers flexible acquisition and predevelopment financing for developers committed to the creation and preservation of affordable housing in the City of Los Angeles.
Made possible through a partnership between the Los Angeles Housing + Community Investment Department, local foundations, and private lending institutions, the Fund is capitalized with $65.5 million of lendable proceeds and provides loans at the following general terms.
Capital Advance Rates of up to 120% LTV for Non-Profit Sponsors and up to 95% LTV for For-Profit Sponsors
Fixed Rate Financing of approximately 4.9% to 5.2%
Flexible Loan Terms of up to 3 years plus a 12-month extension