Sunday, June 23, 2024
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For the 14th consecutive year, Citi has been recognized as the #1 Affordable Housing Lender in the United States by Affordable Housing Finance magazine’s 2023 ranking. Citi Community Capital, the bank’s dedicated affordable housing finance arm, secured $6.5 billion in financing for affordable housing projects in 2023, up from $6.3 billion in 2022. This funding supported the creation of over 34,000 affordable apartments for families, more than 10,000 units for seniors, over 2,000 homes for formerly homeless individuals, and nearly 250 residences for veterans.

Jane Fraser, Chief Executive Officer of Citi, highlighted the increasing challenges in housing affordability due to rising rents and persistent inflation. “We are very proud of our record and are more committed than ever to deploying our resources to help address this critical national issue,” she stated.

Jeremy Johnson, Head of Citi Community Capital, expressed gratitude for the recognition and emphasized the company’s commitment to providing customized financing solutions under all market conditions. “Our dedication to providing borrowers bespoke financing options under all market conditions underpins a certainty of execution that distinguishes our service and supports our consistent leadership in this crucial corner of the market. We are humbled and honored to be recognized once again as America’s top affordable housing lender,” Johnson said.

In 2023, Citi Community Capital served 129 clients in 152 cities across 34 states. Notable projects include the Citadel on Elgin in Houston, Texas, and the revitalization of the New Jersey Bell Tower. The organization looks forward to continuing its impactful work in 2024 and beyond.

Affordable Housing Finance magazine, reaching over 31,000 subscribers in print and online, is the premier national publication for owners, developers, managers, and investors involved in affordable housing. The results of the survey are available at “AHF Top 25 Lenders: Better Days in 2024.”

Citi Community Capital plays a vital role in helping developers acquire, construct, rehabilitate, and refinance multifamily affordable housing across the country. More information about their commitment can be found at [Citi Community Capital](https://www.citicommunitycapital.com).

Citi’s affordable housing finance activities are part of a broader effort to tackle housing insecurity, which includes the Citi Impact Fund equity investments and the Citi Foundation’s Global Innovation Challenge focused on housing affordability and homelessness solutions.

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