COMMUNITY REAL ESTATE
- New Commons Development is a non-profit real estate development company that works with partners to realize project goals and community outcomes
- Our partners are non-profits, co-operatives, faith-based groups and the public sector
- We develop affordable housing and social purpose real estate that will be stewarded by community-based organizations and maintained as affordable in perpetuity
- We can provide up-front, at-risk capital for project feasibility and pre-development phases
- We access traditional and innovative sources of at-risk capital for all phases of development
- We manage all phases of project delivery in collaboration with our partners
- We target projects that are $10 million or more in total development cost
We are an experienced, multi-disciplinary team, focused on our approach, creative in our thinking and disciplined in our work.
As a non-profit, New Commons is values-aligned with our community partners. We share the same mission for building more housing, deepening affordability and maintaining assets in community ownership.
We bring up-front capital to projects to support pre-construction design and management and share the risk at the beginning phases of development projects.
New Commons works closely with our community partners to build local development capacity and strengthen the affordable housing sector across the country.
New Commons Development earns a development fee through each project. We typically share this fee with our partners. This development fee is funded through the project so that our partners do not incur this cost as a direct expense.