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Two New Freddie Mac Pilots Target Affordable Rents

Freddie Mac has announced two new affordable rental programs.  The first is a pilot in three markets (Atlanta, Orlando, and Tallahassee) that supports both affordable housing and the surrounding community. The company is providing $7.8 million to The Promise Homes Company, which owns and operates single-family rental units, to purchase 117 of them to provide affordable housing for low-income and working families. Promise Homes is a non-profit with the mission of offering affordable housing to families unable to buy a home due to finances and/or credit history. In addition to housing, Promise Homes offers financial literacy and economic support services and its property management companies place a priority on contracting with local minority or woman-owned small businesses for services, thereby supporting local job creation.  

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