IFF is dedicated to bringing high-quality affordable housing to low-income and special needs individuals. We have been building and financing affordable housing projects for the underserved since 2005, expanding the program as demand increases and needs change. Read more about our history working in affordable housing here.
Our team has participated in the development of more than 1,700 rental housing units and homeownership units and more than a million square feet in space—and those aren’t just numbers to us. We identify needs and solve problems, and the work we do improves lives.
IFF supports the affordable housing sector through the following programs:
- Affordable Housing Lending
IFF supports affordable housing developers serving low-income or special needs populations across our five-state region by providing affordable, flexible financing for real estate projects. Nonprofit development organizations and their for-profit partners can borrow up to $1.5 million for construction or permanent financing (or up to $500,000 for predevelopment financing) for acquisition, construction or rehabilitation of multi-family or single-family developments. IFF can draft a letter of interest on your development, partner with your construction lender, and provide permanent long-term debt for your development.
To learn more about our support of affordable housing projects through our lending, please read our recent eAlerts or subscribe to our mailing list and receive them directly.
To learn more, please contact Dawni Freeman, IFF's Senior Loan Officer - Housing, at 866 629 0060 or via email.
- IFF Housing Development Services
IFF Housing Development Services is an affordable housing initiative that operates as a one-stop shop for finance and development services. We combine talent in real estate and housing feasibility analysis, housing market studies, working with tax credits and complex financing layers, and project and construction management. IFF’s Housing Development Services operates in the Chicago eight county metro area, with a focus on communities outside of Chicago’s borders—we go where the needs are greatest.
We work with nonprofit and for-profit developers, government agencies, and social service providers involved in the development of affordable housing projects. Our services include:
—Project Planning Support for nonprofits planning a housing project
—Project Sourcing for nonprofit developers looking for a ready-to-build project
—Turn-Key Development for nonprofit housing operators looking for finished projects
To learn more, contact please Michelle Hoereth, Director of IFF Housing, at 866 629 0060 or via email.
- Home First Illinois
Home First Illinois develops integrated, accessible, and affordable homes, providing permanent, community-based housing to people with disabilities. These homes address a strong need in Illinois, where a disproportionate number of low-income people with disabilities are living in State-funded institutions. HFI acquires and develops scattered-site housing, with an emphasis on increasing accessible housing options. Because people with disabilities often have extremely low incomes, HFI ensures that each unit has a source of rental subsidy so that tenants will have enough disposable income for food, transportation, and out-of-pocket medical costs.
To learn more, please contact Tara Peele, IFF's Director of Home First Illinois, at 866 629 0060 or via email.