Real Estate Development Program
Community Based Real Estate Development Training Program (CBREDT)
BFNHS is providing $4,000,000 in predevelopment and small project funding for over 20 graduates of this innovative program that is intended to support persons of color who want to become real estate developers.
Program Parameters:
- Participants must be a graduate of the CBREDT program.
- Approved for participation & funding by Empire State Development (ESD) & Center for Regional Strategies (CRS).
- Grant funding for one project up to $150,000 with a 10% graduate equity contribution. Additional funding if approved by ESD.
- Predevelopment funding up to 10% of total project costs, with maximum of $50,000 predevelopment grant.
- Funding must be for a commercial project. Funds cannot be used for residential expenses.
- Five-year regulatory period.
