- $225M of the $475M will be loans below market interest rates, directed at middle-income housing.
- The remaining $250M of the $475M will be loans at market interest rates, directed at low-income housing.
Other than optics, I'm not sure what the point of the $250M in market-rate loans is. I'd think that the main constraint on the development of low-income housing is that it's unprofitable, not that it's difficult to secure financing.
From that article:
- $225M of the $475M will be loans below market interest rates, directed at middle-income housing.
- The remaining $250M of the $475M will be loans at market interest rates, directed at low-income housing.
Other than optics, I'm not sure what the point of the $250M in market-rate loans is. I'd think that the main constraint on the development of low-income housing is that it's unprofitable, not that it's difficult to secure financing.