February 26, 2019
PIDC has flexible debt designed to support for-profit and nonprofit borrowers with real estate projects located in designated Opportunity Zones in Philadelphia. The intent is to pair this financing with equity from certified Opportunity Funds to fill the gap in the capital stack for real estate projects.
All projects must meet the general requirements for Opportunity Zone eligibility. PIDC is currently targeting for-profit and nonprofit developers completing commercial, industrial, mixed-use commercial and residential projects, and multi-family residential real estate projects, and also targeting operating businesses completing real estate projects.
Uses can include building and land acquisition, renovations, tenant improvements or new construction, and equipment purchases. PIDC will ensure that Opportunity Zone investments, paired with our flexible debt, will support equitable development and prosperity in Philadelphia’s low-income communities.
If you feel you have an eligible project for this loan, please message us today!