Homeownership continues to be an important way to build wealth, particularly among low-income households. While many traditional lenders have tightened lending standards and restricted credit access, mission-driven lenders like King Park have continued to expand access to safe and affordable credit. Through our Community Development Financial Institution (CDFI) Build Fund, King Park has invested millions into job-creating businesses in Indianapolis.
Now, King Park is expanding its lending into affordable housing through the Edge Fund. Edge Fund will help increase the number of affordable housing options in Indianapolis by providing mortgages, construction loans, and bridge loans for both single- and multi-family housing. We are pleased that our first loan went to our Monon16 partner, ReDevelopment Group, for an affordable house it is building alongside its market rate houses. The ReDevelopment Group and King Park are committed to preserving and investing in diverse and inclusive neighborhoods. Developing mixed-income housing makes neighborhoods like Monon16 more resilient, equitable, and welcoming. Check out more at www.monon16.org.