NeighborWorks Capital funded a $450,000 acquisition loan with Comite de Bien Estar (Comite) in November 2020. This loan will finance the acquisition of 19.2 acres of vacant unimproved loan in San Luis, Arizona. The loan will be divided into 94 lots and sold to low- and moderate-income homebuyers for development under two of Comite’s programs. Forty-four homes will be developed through the Self-Help program and fifty lots sold to buyers under Comite’s New Construction program. Each home will be either three or four bedrooms and between 1300-1400 square feet.
As the cost to buy and to build a home climbs, and demand