Housing New England Fund II
Funding Amount
$60,700,000
Deadline
Deadline not published
Grant Type
Foundation
Deadline history & next window
- Cycle
- One-time opportunity
- Tracked since
- April 2026
Source: the cycle recorded on this listing. Confirm dates with the funder.
Overview
Geographic Scope: Maine, New Hampshire, and Vermont
Fund Closed: January 29, 2021
Housing New England Fund II (HNE Fund II) is a multi-investor fund providing equity financing for affordable housing development and preservation across northern New England.
Fund Details
Total Capital Raised: $60.7 million from 19 investors
Investor Types:
- Community banks
- Regional and national banks
- Major mortgage banking organizations
Funding Mechanism
Evernorth raises equity by syndicating:
- Federal Low Income Housing Tax Credits
- Historic Tax Credits
- Various state, historic, and affordable housing credits
Projects Funded
Total Developments: 18 properties
- 9 in Maine
- 3 in New Hampshire
- 6 in Vermont
Total Affordable Units Created: 744 apartments
Development Status: All developments identified; 10 in construction at time of announcement
Leased Properties:
- St Albans, Vermont
- Livermore Falls, Maine
Investment Returns
Investors receive reliable returns on investment while supporting affordable housing development and community building across the region.
Background
Successful joint venture between Housing Vermont (HV) and Northern New England Housing Investment Fund (NNEHIF), which later merged to form Evernorth in July 2020. The success of Housing New England Fund II led to the organization planning Housing New England Fund III (unveiled Spring 2021).
What Evernorth Inc actually gave
Source: IRS Form 990, 2024
- Grants in 2024
- 1
- Total given
- $12K
- Median grant
- $12K
- By dollars: Vermont 100%. Top recipient cities: Winooski, VT.
Example grants
Vermont Student Assistance Corporation · Winooski, VT
Student scholarships
$12K
Focus Areas & Funding Uses
Fields of Work
- Affordable housing
- Housing
Categories
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Deadline
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Listed date — confirm with the funder
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Deadline
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Evernorth Loan Fund
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Infrastructure - Community and Housing Infrastructure Program (CHIP)
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Amount
Varies by project
Deadline
Deadline not published
Housing and Land Conservation Feasibility Funds
Amount
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Deadline
Deadline not published
Housing – Invest in VT (formerly 10% in Vermont)
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Amount
$25 million is available
Deadline
Deadline not published
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