Our Projects

The Fund’s bridge loan advances the first phase of the Madison Station redevelopment, a transformative, mixed-use, transit-oriented community that intends to bring more than $1 billion in investment to the Madison area.

The project preserves naturally occurring affordable housing in the historic Jefferson Street corridor, a neighborhood experiencing rapid gentrification. The Fund’s financing provides “but-for” early-stage capital that is not available through conventional lenders.

The loan facilitates the creation of a largescale affordable housing development in a growing Madison corridor, bringing new family-sized units near retail and transit. It supports a development model where local sponsors assemble land and partner with experienced LIHTC developers.

The Fund’s loan represents the final piece of gap financing needed to unlock the full mixed-use project. The development will bring new affordable housing to the historic Fisk/Meharry district and help anchor community-serving uses including Corner to Corner and the new headquarters and branch of Citizens Savings Bank and Trust, the nation’s oldest African American–owned bank.

The Barnes Fund award pays in arrears, requiring the nonprofit sponsor to use valuable dollars while waiting for the repayment. The Catalyst Fund’s bridge loan allows the sponsor to preserve its own cash and expedite the renovations.

The Catalyst Fund’s lower interest rate relative to market allows more capital to be directed into the project as opposed to interest payments.