CEI creates sustainable real estate development and affordable housing opportunities for the people of Maine through new construction and rehabilitation of existing properties. CEI is both a developer of and a lender to commercial real estate and affordable housing projects, multi-family and supportive housing. CEI has directly created or preserved 1,587 housing units, including multi-family, homeownership and supportive housing. The vast majority, 96%, are affordable units.
CEI’s affordable housing activities are as follows:
- Development: high-mission, high-return affordable real estate development, with a focus on Low Income Housing Tax Credit (LIHTC) and rental preservation projects.
- Lending: provision of bridge loans, construction and predevelopment lending to other nonprofit and for-profit developers of affordable housing.
- Credit investment: CEI invests in the restoration and rehabilitation of historic properties that align with mission by purchasing the available State Historic Rehab Credit from developers.
- Technical Assistance in the form of fee-for-service planning to municipalities and small nonprofits or housing groups.
- Asset Management: stewardship of a 240+ portfolio of rental units, focusing on housing that is affordable and be sustainable.
CEI offers a variety of housing loans and finance solutions for buyers and developers of properties serving low and moderate-income people; such as:
- Short-Term 1st Position Loans
- Subordinated Debt
- Bridge Loans for Property Acquisition
- Predevelopment Loans
- Construction Loans