How to Write a Real Estate Grant Proposal

The grant will provide an outline of the information that needs to be detailed in a proposal.

Real estate grant proposals are written to obtain funding for affordable housing development. Typical affordable housing development projects include acquiring and rehabilitating single family homes for the disabled or constructing multifamily residences for low-income households. There are affordable housing developers who specialize in creating housing for low-income households. There are also nonprofit organizations who serve a specific population, but don't have the capacity to develop affordable housing. The nonprofit will typically team with a developer to create affordable housing for the population it serves.

Instructions

1. Research for agencies or organizations online that fund real estate development projects. The Department of Housing Urban Development (HUD), city and county departments are a good place to start looking (see "Resources"). It is possible to have one project funded with several grant awards from different agencies. Most assistance is in the form of a low-interest bearing loans as long the housing remains affordable to low income households.

2. Define a need in the community the project will satisfy. The grant will be awarded based on your organization's ability to identify the problem and capability to provide a solution. The program description should be able to provide a historical account of the population that will be served and the lack of affordable housing.

3. Make a matrix of who is responsible for completing each section of the grant proposal to stay organized. Several parties are typically involved in a real estate development project. The developer will need to describe her experience in housing development. If the developer is working in conjunction with a nonprofit organization, the nonprofit will need to provide a description of its experience serving the identified population. Accounting will need to prepare a project budget.

4. Gather all the documents required to submit the proposal. Copies of the nonprofit's by-laws, resumes for senior project members, a list of the board of directors and a two-year financial statement are typical documents needed to be included with a real estate grant application. A pre-approval letter from a lender or evidence of available funds may be required for any portion of the project budget that cannot be funded through the grant. The board of director's signature for project approval may also need to be included with the proposal.

5. Copy the grant proposal. Expect to submit the original and a few copies of the proposal to the agency. Also, real estate grant proposals can become lengthy and may need to be bound. Some agencies are specific about how the application should be packaged. Always refer to the guidelines outlined in the application.

Resources

• HUD