HumanGood Affordable Housing (HGAH) and Beacon Development Group are proud to be selected from a pool of 146 applications as the recipient of a Capital Magnet Fund (CMF) Award, securing the highest award amount of $12 million. Coupled with HGAH’s receipt of the 2020 CMF Award, this brings a total of $17 million in funding for its affordable housing development efforts.
The CMF Awards are offered by the US Department of the Treasury’s Community Development and Financial Institutions Fund to support affordable housing and related community service facilities. These include learning centers, daycares, community centers – facilities HGAH and Beacon Development Group already have a long history of building.
HGAH and Beacon Development Group anticipate disbursing and completing projects with the $17 million in CMF Award funding by September of 2027.