Kingdom Partners – Housing Development Group (KP-HDG) has been selected by the City for a $1.8M to develop 30+ units in Chattanooga. The funding will go to Faith Based Organizations and Not for Profits (FBO’s) that wish to develop affordable permanent housing over the next two years.
The funding will allow for 0% interest loans for predevelopment costs of up to $10,000 and Direct Gap Funding of up to $30,000/unit for rehabilitation, and up to $50,000/unit for new construction of permanent affordable housing.
We are looking for interested FBO’s that have or can secure land and wish to develop housing, as well as local developers, general contractors, architects, engineers, and property managers who would partner with the FBO’s to develop this housing.
If interested, contact:
Mark Straub
str55aub@yahoo.com
423.827.7078.