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Boston & New England  + Boston  + Finance  |  May 14, 2024
Atlanta, GA-based commercial real estate direct lender Stonehill completed $1.2 billion in investments for 2022.
Emily Fu
By: Emily Fu

MassHousing, MHIC Open Equitable Developers Fund 

MassHousing and the Massachusetts Housing Investment Corporation (MHIC) have opened funding applications for the Equitable Developers Fund (EDF), a $50 million program aimed at addressing disparities in capital access in the real estate industry.  

The EDF offers Working Capital Lines of Credit and Standby Letters of Credit to underrepresented developers, breaking down traditional barriers to entry. The fund seeks to expand the capacity and diversity of capable developers working in Massachusetts.  

“Opening funding applications for the Equitable Developers Fund represents an exciting milestone in our efforts to create new housing in Massachusetts and expand growth opportunities for underrepresented developers,” said MassHousing CEO Chrystal Kornegay. “The enterprise level growth capital that the Equitable Developers Fund provides will help emerging developers grow to scale, deepening our housing delivery system.” 

The EDF supports developers in Gateway Cities, Boston, Framingham, Randolph, or HUD Qualified Census Tracts, providing technical assistance and financing opportunities. 

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Inside The Story

Chrystal Kornegay

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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