Emerging Developer Loan Fund

About the Program

Emerging developers that work on projects below $30 million face significant hurdles obtaining funding for their projects. NYCEDC has partnered with Basis Management Group to fill this gap, committing $10 million to pilot the Emerging Developer Loan Fund.

The fund provides low-interest loans to NYC-based real estate projects including mixed-income housing, mixed-use, industrial and commercial projects.

To date, we have provided support to the following projects, contributing to a pipeline of $50 million or more:

• Veteran and affordable housing in the Bronx.
• Community church and multi-family in Harlem.
• Tech space and multifamily in Brooklyn.
• Affordable housing and commercial development in the Bronx.