Freddie Mac social bonds to support housing for those with IDD

Freddie Mac Multifamily recently announced that it will soon go to market with the issuance of $230 million in Social Bonds supporting 1,267 rental homes across 39 states and the District of Columbia for individuals with intellectual and developmental disabilities.

The company said proceeds from the social bonds will “help address the significant shortage of community-based homes critical to the ‘deinstitutionalization’ of care for individuals with disabilities.”

The properties will offer housing in the community for 4,462 people with developmental disabilities, officials indicated. An estimated 90% of the beds provided will be affordable to people with incomes lower than half of the local median level.