Additional CIC Borrower Success Stories

Jeffrey Coleman and William Ballard

Jeffrey Coleman and William Ballard are the owners and developers of a rental building on South Ada. Initially, the rehab of this vacant, 15-unit apartment building seemed easy on paper. Estimates for rehab appeared reasonable and cash flow was strong. It was soon discovered, however, that the building had long suffered from drugs and gangs. In addition, the original rehab estimates were low, as the actual numbers rolled in. Financing through CIC’s Flex Fund Program rescued this deal, and allowed the partners to move forward. Completing the rehab in just four months, the building today is almost fully occupied – providing quality, affordable housing to residents in Washington Heights.