For-Sale Development Program

About the Program

The purpose of the For-Sale Development Program (FSDP) is to provide construction financing to developers for the substantial rehabilitation or new construction of affordable for-sale housing. The FSDP provides low-interest construction loans or grants to increase the supply of affordable housing and promote homeownership.

Upon completion of the project, the unit must be sold to owner-occupants who earn 80% of Area Median Income or less.

Eligibility

Non-profit developers are eligible for FSDP funds. For-profit developers must enter into a Memorandum of Understanding or Letter of Intent with a non-profit, which describes the relationship between the non-profit applicant and the for-profit developer.

Affordability Period

A deed restriction is recorded on the property or properties for which the funds are used. For FSDP loans, the affordability period is at least 15 years. For FSDP grants, the affordability period is at least 15 years and not more than 99 years. 

How to Apply

1. Please read over the Program Guidelines and collect necessary documentation including, but not limited to:
   
   • Three years of financial statements
   • Documentation of nonprofit status, or agreement with a nonprofit
   • Sources of funding and committment letters
   • Project architectural plans, scope of work, schedule of values
   • Proof of clear title or sales agreement
   • Affirmative Fair Housing Marketing Plan
   • A complete FSDP Excel Workbook
2. Submit your application via the online form.

For questions, please email ResidentialDevelopment@ura.org.

The For-Sale Development Program is for non-profit developers or their for-profit partners. If you are an individual in search of for-sale housing, please visit the URA's Buy a Home page.