Recognizing a need for predevelopment, acquisition and construction financing for housing projects throughout North Dakota, CommunityWorks North Dakota began a quest to establish a new loan designed to address these needs. The new loan fund, DREAM II will help further CWND's mission of creating affordable housing and development opportunities to revitalize communities and improve the standard of living and quality of life for residents of North Dakota.
the DREAM II Program |
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DREAM II provides financing for predevelopment, acquisition, and construction of mission-related housing developments in North Dakota. Eligible borrowers include non-profit and for profit entities of all sizes as well as governmental entities. The loan fund can finance rehabilitation and new construction for both homeownership and rental purposes as well as infrastructure development. |
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CWND will underwrite and structure loans based on a borrower's financial condition, development experience, the availability of collateral, and the ability to repay. Projects must meet threshold feasibility to be considered for financing which includes adequate cost projections and proposed sources, demonstration of how proposed rents and sales prices are supported in the market and the capacity of the development team to successfully complete the project. Eligible Projects include: |
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DREAM II Projects in the NEWS |
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Library Square in the Community Housing Capital NEWS!!! |
View the Full Story |
Beulah School House Apartments |
Gallery of Photos |
Minot Townhomes Tax Credit Project |
Affordable Housing Projects Seek Financing Read the Tax Credit Award Story |
Stanley Apartment Complex ~~ Ribbon Cutting Ceremony |
Read the Full Story |
Waters Edge housing development ~~ Ribbon Cutting Ceremony |
Read the Full Story |
For more information on the DREAM II Loan Fund, please contact Rob at 701.667.7601.