When it comes to real estate, Devan McClish has done it all since starting in the industry nine years ago – flipping, new construction, property management, general contractor, apartments and small retail. Recently, he’s added affordable housing to the mix. The creativity and challenge involved in making affordable housing projects work – and the
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Pathway Lending’s Multi-Family Housing Loans seek to stop the Affordable Housing Crisis in Tennessee
Families paying more than 30% of their household income on rent are considered cost-burdened. By design, affordable housing stays below that threshold by structuring financing deals to involve (typically) a mortgage, tax credits, and two or three other sources of capital. Without subsidies it’s virtually impossible for developers to build homes that are affordable to
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Pathway’s Low Income Multifamily Housing Loan Program
Pathway Lending does its part in helping low income families For some time, the lack of affordable housing has been a major problem affecting low-income families in rural areas of the U.S and the Low Income Housing Tax Credit (LIHTC) program has often been utilized to deliver high-quality, affordable housing in these communities. At Pathway
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Success Story: First Cumberland Properties
Developers partner with Pathway Lending to retain and renovate affordable multifamily housing in Tennessee Nearly 30 years ago, Phil Owen and Robert Trent founded First Cumberland Properties “to provide working families with extraordinary housing.” Now affordable housing industry leaders, Owen and Trent have utilized Pathway Lending’s Tennessee Affordable Multifamily Housing Fund on three projects to
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