Rochester Housing Development Fund Corporation

To mitigate the lasting effects of Rochester’s foreclosure crisis in the late 1990s, the Rochester Housing Development Fund Corporation (RHFDC) acquires and rehabilitates foreclosed single-family homes to create affordable housing for low- and moderate-income families. The lending facility pools public and private capital, including Partners for the Common Good, in order to revitalize neighborhoods of Rochester.

Initiated in 2001, RHFDC’s main program, HOME Rochester, is a collaboration among the City of Rochester, New York state and federal affordable housing programs, the Greater Rochester Housing Partnership that administers the program, and the local banking community led by Chase. Over the past 16 years, the program has funded the renovation and sale of over 700 single-family homes to Rochester families, the majority of whom earned less than $60,000 a year. First time homebuyers are also required to complete homeownership counseling and training prior to closing to support their economic success.

This participation is PCG’s fourth round as a lending partner with Chase, other CDFIs, local non-profits, and multiple banks. The project is anticipated to fund 70 additional home renovations over three years to continue strengthening economic opportunities for Rochester families.

Address: 

Rochester , NY
US

Participating Lenders: 

PCG Loan Amount: 

$500 000

Total Loan Amount: 

$15 000 000

Our NMTC Projects

Community Facilities, Healthcare, NMTC
Philadelphia, Pennsylvania
Impact Summary

$5 million NMTC allocation funds medical center for low-income Philadelphia seniors.

Participating Lenders:
None
Community Facilities, NMTC
Chicago, Illinois
Impact Summary

$6 million NMTC allocation helps build new small food business incubator in Chicago.

Participating Lenders:
None
Community Facilities, Education, NMTC
Little Rock, Arkansas
Impact Summary

$7 million NMTC allocation helps construct Little Rock charter elementary and middle school for 1,245 students.

Participating Lenders:
None

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