About Citi Community Capital
Citi Community Capital (“CCC”) is the community lending and investing arm of Citi. It is housed in the Municipal Securities Division of Citi’s Institutional Clients Group. Unique among its peers, CCC provides a comprehensive array of financial products, from investment banking to lending and equity investment, designed to create strong communities and contribute toward Citi’s Community Reinvestment Act performance. Read more >
Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit developers, Community Development Financial Institutions, and state and local government agencies.
Our financings may employ a combination of taxable and tax-exempt loans or bonds; Low Income, Historic or New Markets Tax Credits; and government and private subsidies. CCC can provide capital directly or as an intermediary. We are a construction lender and a permanent lender, a Fannie Mae and Freddie Mac mortgage banker, and principal in unique equity investments – all designed to improve neighborhoods, create jobs, or improve the health care services or educational opportunities available to the communities we serve.
The projects we finance serve special needs populations including our nation’s homeless population, seniors and those with disabilities, as well as low income families and individuals. We are the leading investment banker, lender or equity provider in many of the areas in which we participate, and are generally acknowledged to be among the most creative and innovative firms in the industry.
We work throughout the country from 13 offices and have been the #1 affordable housing lender in the United States in each of the past six years as reported by Affordable Housing Finance magazine. That success is due in large part to having the strongest, most innovative team of professionals in the country. Our work doesn’t just stop when we originate, structure and close a transaction; we have full underwriting, asset management and support groups that analyze and manage our transactions from closing through construction and during the life of the asset or program we’ve financed. Portfolio, risk management and finance professionals ensure that our activities remain within our economic and risk thresholds. With Citi’s capital committing capability and team of experienced professionals, we are able to provide financing solutions that are specifically designed to meet each client’s needs.
- Vacaville, CA – Provided $15.1 million in construction and permanent financing for Rocky Hill Apartments, a 39-unit affordable housing development. The units are slated primarily for veterans with income levels for the low and very low income residents. The property will be LEED Silver certified and the modular construction will consist of steel cargo shipping containers converted into building components in an offsite factory and transported to the site.
- Houston, TX – Financed $9.2 million for the acquisition and rehabilitation of Woodland Christian Manor preserving 127 units of housing for seniors and those with disabilities. The property has designated 72 studio units as permanent supportive housing for Houston’s chronically homeless. The property will be able to offer comprehensive support services to the residents and other very low income, medically underserved persons with focused care management that increases their capacity for economic independence. Among the services to be provided for residents are case management, counselling and support, crisis intervention, and referrals for transitional employment, vocational training, and job placement.
- Portland, OR – Provided $25 million in construction to permanent financing for the new construction of Oliver Station, a mixed-use, transit oriented development in the “Lents Town Center” urban renewal area established by the City of Portland Development Commission. This is the first of the major vertical projects going up. The site is adjacent to the Lents MAX light rail metro station. Upon completion it will create 124 affordable housing units, 19 market rate apartments and ~ 30,000 sq. ft. of ground floor commercial space.