New Origination

Community Access Project Loan

On April 11, 2014, the Fund closed on a $3.87 million loan to Community Access, Inc. for the acquisition of a partially-vacant site located at 111 East 172nd Street in the Grand Concourse neighborhood of the Bronx.  The site will be developed into a 132-unit multifamily rental building with 72 supportive housing units targeted to individuals and families with a disabling mental health and/or addiction issue. The remaining 60 units will be affordable units for low-income households.  For more information on the Project please visit the Fund's summary.

Founded in 1974, Community Access, Inc. (“CAI”) is a 501(c)3 non-profit that works to break the cycles of homelessness, addiction and criminal recidivism among the clients it serves.  CAI provides supportive housing and social services to individuals and families with psychiatric disabilities and addiction issues, under contracts from the NYS Office of Mental Health, the NYC Department of Health and Mental Hygiene and the NYC Department of Homeless Services.  All of CAI’s programs and innovative business ventures help those with mental illnesses to make the transition from shelters and institutions to independent living.  For more information on CAI visit www.communityaccess.org.