Once a project has obtained the necessary pre-development documents, the process for securing the necessary equity and financing can begin. As governments change and priorities across the country shift, some doors for funding close while others open, and the SHI are experts in assessing the optimal funding avenue for each project.
Most consulting firms and development teams are accustomed to private investment and high-interest loans to fund their projects, or would require recurring funding to support an affordable housing development. However, affordable and non-traditional housing requires a different approach, a sustainable approach, in order to appeal to both funding organization and traditional financial institutions.
As part of Phase 3, the SHI will manage funding applications and explore feasible options for equity, and mortgage financing.