This report provides a summary of NCDI’s investments and real estate production for the 18-month period July 1, 2004 through December 31, 2005. And, it sheds light on national trends in housing development for that time period.

Living Cities: The National Community Development Initiative is a consortia of major philanthropies, corporations, and government agencies that funds community development throughout the United States. Emphasis is placed on inner-city neighborhoods that have had a history of blight and disinvestment. The Cities Program is the core initiative of Living Cities.

Through the Cities Program, Living Cities’ funds community development projects in 23 cities through two national intermediaries, the Local Initiatives Support Corporation and Enterprise Community Partners, formerly the Enterprise Foundation. The city offices of these intermediaries provide Living Cities’ funds to Community Development Corporations (CDCs) for housing construction and restoration, nonresidential development of commercial and community facilities, and CDC internal capacity and development.

Since its inception in 1991 through December 31, 2005, Living Cities has expended $350,662,759 of Cities Program funds for real estate project development.

This report provides a summary of investments and real estate production for the 18-month period July 1, 2004 through December 31, 2005, which is the first half of Living Cities’ current, three-year funding cycle ending in June 2007.