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

You are encouraged to email ResidentialDevelopment@URA.org with any questions before submitting the application. 

1. Review the For-Sale Development Program Guidelines
   
   

2. Download and complete the following documents to be included in your application:
   
   For-Sale Development Program Application Narrative

   Excel Workbook
   
   

3. Please email ResidentialDevelopment@URA.org.
   
   

SUBMIT APPLICATION

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.