Over the past four decades, Massachusetts has established itself as a national leader in the production and preservation of affordable housing by its vibrant community development sector, and CEDAC has been an integral part of that accomplishment. For over 40 years, CEDAC has provided early stage capital financing and technical assistance to non-profit, community-based developers seeking to build or preserve quality affordable housing. Our loan products deliver capital efficiently to acquire property, hire architects and other consultants critical to moving a development forward, and leverage permanent financing to move projects into construction.

Along with financing, our expert staff – many of whom have developed affordable housing with non-profit developers – offer technical assistance to our borrowers. We work with community development corporations and other non-profit developers, large and small, to plan and implement projects. Each year, CEDAC lends approximately $20 million in patient capital to 50 affordable housing developments that produce and preserve more than 2,400 affordable units on an annual basis.

Affordable Housing
Affordable Housing
Gorham Street Apartments, Lowell
Coalition for a Better Acre

CEDAC’s early stage financing supports investment in affordable housing, and in the neighborhoods that our community-based developers serve. Our loan products, technical assistance, and patient capital have stimulated the production or preservation of nearly 50,000 housing units in cities and towns throughout Massachusetts. CEDAC’s predevelopment and acquisition financing supports a wide variety of projects, with sizes ranging from just a handful of units to well over 100, locations that include urban, rural, and suburban, in mixed-income, mixed-use, rental, and homeownership projects throughout the Commonwealth.

Affordable Housing
Gorham Street Apartments, Lowell
Coalition for a Better Acre
Supportive Housing
Supportive Housing
Alta Brown – Resident of CHOICE Veterans Housing, Westford & Chelmsford
Chelmsford Housing Opportunities for Intergenerational and Community Endeavors, Inc.

For over 30 years CEDAC has managed on behalf of DHCD multiple state housing bond resources that use general obligation bonds to provide permanent financing for affordable supportive housing. These programs include the Housing Innovations Fund (HIF), the Facilities Consolidation Fund (FCF), Community Based Housing (CBH), and the Housing Preservation and Stabilization Trust Fund (HPSTF). Through these programs, over 682 projects have been completed, producing more than 16,240 units of supportive housing. Our projects serve elders, veterans, homeless individuals and families, and with disabilities, and other residents who need supportive services as well as affordable housing.

Supportive Housing
Alta Brown – Resident of CHOICE Veterans Housing, Westford & Chelmsford
Chelmsford Housing Opportunities for Intergenerational and Community Endeavors, Inc.
Housing Preservation
Housing Preservation
Chapman Arms, Cambridge
Homeowner’s Rehab, Inc.

Through our financing, technical assistance, and policy work, CEDAC plays a critical role in preserving affordable housing in Massachusetts. More than 4,000 units of affordable housing are preserved each year, in large part because of CEDAC financing through the Massachusetts Preservation Loan Fund and CEDAC’s technical skills to create innovative, effective policies to preserve existing affordable units.

Housing Preservation
Chapman Arms, Cambridge
Homeowner’s Rehab, Inc.
CEDAC Early-Stage Funding in FY23 Will Help Create or Preserve Affordable Housing in Communities Across the Commonwealth
CEDAC Press Releases / Oct 24, 2023

BOSTON (October 24, 2023) – The Community Economic Development Assistance Corporation (CEDAC) announced today that its early-stage financing commitments during the fiscal year 2023 will help create or preserve affordab...

Did you know the Home Modification Loan Program could help fund an ADU?
CEDAC Blog / Aug 09, 2023

BOSTON (August 9, 2023) – The Home Modification Loan Program (HMLP), a state-funded loan program administered by CEDAC, the Massachusetts Rehabilitation Commission (MRC), the Executive Office of Housing and Livable Com...

CEDAC's initial investment in the effort enabled us to move this project [Stevens Memorial Senior Housing] forward. Their assistance was essential in allowing us to partner with Ludlow to create senior housing in an absolutely ideal location.
Peter GagliardiPresident and CEO of HAP, Inc.