$81.75 million fund provides equity financing for 494 affordable homes
in Maine, New Hampshire and Vermont
FOR IMMEDIATE RELEASE: April 21, 2026
Evernorth closed Housing New England, Fund VII on April 2, 2026. This fund is the second largest in Evernorth’s history, providing crucial equity financing to support the development and preservation of affordable housing across Maine, New Hampshire, and Vermont at a time when the need for housing has never been more urgent.
Northern New England communities are facing a growing housing crisis, making it increasingly difficult for working people, older adults, and families to find homes they can afford. From rural towns to small cities, housing shortages are affecting local economies, labor force stability, and community health.
Housing New England, Fund VII is part of the solution. Evernorth raises capital for investment in affordable housing by syndicating federal low-income housing tax credits as well as historic and energy investment tax credits. Nineteen investors committed a total of $81.75 million in equity, making the fund an important financial resource for the region’s critical housing needs. HNE Fund VII’s investors include community, regional, and national banks as well as one of the nation’s largest mortgage banking organizations. Together, these partners are helping ensure that more homes can move from concept to completion.
“At a time when the housing landscape is growing more complex, this kind of sustained investment is essential to making sure that communities across northern New England remain places where people can live and thrive,” said Nancy Owens, President, Evernorth. “Through their continued partnership with Evernorth, the investors in the Housing New England Fund are demonstrating their deep commitment to serving our communities in Maine, New Hampshire, and Vermont.”
Of the ten properties and 494 homes financed by Fund VII, three of the projects are in Maine, two in New Hampshire, and five in Vermont, with nearly 60% of the equity going to rural communities across the three states. Five projects with 221 homes are currently under construction and are projected to be complete and ready for leasing in 2026.
“In addition to receiving a reliable return on their investments, our investors are helping to create tangible, lasting impact,” said Cynthia Lacasse, Evernorth’s Executive Vice President and Chief Program Officer. “These investments will create homes for hundreds of people, including working families, older adults, and individuals who might otherwise have difficulty finding housing in today’s market.”
The need for affordable housing in all three states remains substantial, and the urgency continues to grow. Evernorth maintains a robust pipeline of high-quality community developments that require financing and will be unveiling Housing New England, Fund VIII later this summer to continue meeting that need.
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Evernorth is a nonprofit organization that provides affordable housing and community investments in Maine, New Hampshire, and Vermont. For more than 35 years, Evernorth has brought together capital, expertise, and partnerships to support the development and preservation of affordable housing and vital community investments. Evernorth has raised and deployed over $1.6 billion in equity capital, helping create more than 17,000 affordable homes for low- and moderate-income people across northern New England. www.evernorthus.org
