Commercial Properties

The Holmes Commercial Development (HCD) team grants low-interest loans for mid-sized and large commercial projects. We consider eligibility for both for-profit and non-profit developers or community developers. both short-term and long-term loans, which may be obtainable for purchase financing or construction financing.

Iam particularly pleased to fund projects that provide considerable public benefits including:

• Affordable housing that helps to maintain a diverse economic base of residents
• Contribution to the revitalization of the City's business districts
• Creation of jobs
• Redevelopment of abandoned or underutilized property
• Support of neighborhood businesses

Real Estate Project Examples

Anytown Luxury Lofts
 provided a $2.9 million BAM Loan to Maintime Development 20/20 (MD 20/20), for acquisition of the Anytown Luxury Lofts project. The initial phase of the project is now completed and includes 137 units of affordable loft-style housing and 11,000 square feet of ground floor commercial space. This first completed phase is part of an overall 9 acre project that will revive a once environmentally polluted area and renew it as an energetic mixed-use development, creating both affordable housing and many new jobs.

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