January 2026 Loan Round-up February 1, 2026

In January, IFF closed loans totaling approximately $2.5 million for community-driven projects in the Midwest. We’ve included information below about the loans and what the organizations that received them are doing with the capital. To learn more about IFF’s lending, visit our Capital Solutions page.

Evergreen Real Estate Development Group

IFF closed three predevelopment loans totaling approximately $2.04 million to support the development of 360 units of senior housing by Evergreen Real Estate Development Group (Evergreen) across three project sites in Fairborn, Grove City, and Columbus, OH. At each location, a mix of studio and one-bedroom apartments will be affordable to older adults earning 40, 60, and 80 percent of the area median income. All units will come equipped with a kitchenette area, full private bathrooms, either a sitting/sleeping area or a bedroom and sitting area, individual heating and air conditioning, and an emergency alert system. Residents will also have access at each property to fitness, game, and activity rooms; a beauty salon; a library; a computer station, and other amenities. Each development is expected to achieve LEED certification and will feature all-electric utilities and EnergyStar-certified appliances.

An established developer and longtime IFF borrower, Evergreen has successfully replicated the same senior housing model numerous times across the country. Anticipated sources of funding and financing for the projects include 4% Low-Income Housing Tax Credits and tax-exempt bonds. Collectively, the projects are expected to create approximately 320 construction jobs and more than 100 permanent jobs.

Imagine Academy

IFF closed a loan of approximately $431,000 that will facilitate nonprofit Imagine Academy’s acquisition of three first-floor commercial condominiums totaling nearly 3,800 square feet in a mixed-use facility in Stoughton, WI. Founded in 2020, Imagine Academy provides inclusive youth services that include before/after school programs, respite care, adaptive fitness, and individualized programming for children with disabilities. The organization has grown exponentially and outgrown its current location. The ground floor commercial condominiums will provide more space with greater accessibility so that all families are able to easily access Imagine Academy programs. In response to community needs, Imagine Academy plans to expand its current services to include homeschool enrichment, preschool collaborations, and teen respite services.