The Housing Enterprise of Central Alabama (HECA) is a "community spirited" lender formed to stimulate the development of moderately priced housing in a 12-county area surrounding Birmingham.

HECA and its non-profit affiliate, the Housing Fund of Central Alabama (the Fund), provide loans to qualified private and non-profit developers to substantially increase the supply of safe, decent, single family for-sale and rental housing for low- and moderate-income families. Jointly, HECA and the Fund provide gap financing and/or more aggressive construction and acquisition loans or investments to qualified projects. Loans can be structured to provide up to 100% project financing with limited recourse.

In addition, the Fund provides grants to non-profits for core operating support on a limited basis, technical assistance and programs related to capacity building in the affordable housing development community.

HECA and the Fund are catalysts for neighborhood revitalization, economic development and the creation of housing opportunities in areas not typically accessible to families of moderate means.

 Learn more about HECA


Accomplishments

Read more about the progress of HECA and the Fund in our timeline of accomplishments.

Find out more about the many benefits of joining HECA and the Fund.

HECA/Fund Partners

HECA and the Housing Fund of Central Alabama would like to thank their investor institutions and foundations for their support:

HECA/Fund Founding Investor Banks

What's New?

Superior Bank joins HECA/Fund Partnership
Superior Bank has joined the Housing Enterprise of Central Alabama and the Housing Fund of Central Alabama as an institutional investor. With Superior Bank’s investment, HECA’s loan fund grows from $55 million to $56.5 million.
Read more.

ALIANT Bank joins HECA/Fund Partnership
ALIANT Bank has joined the Housing Enterprise of Central Alabama, creating a loan fund of $55 million available to developers to build and renovate housing for families of modest means.
Read more.

Westside CDC to unveil $1.1 Million Subdivision Dec. 5Wynn Circle
Westside Community Development Corporation (WCDC) will host a ribbon cutting on Dec. 5 for its new subdivision in west Tuscaloosa. The ceremony will begin at 10 a.m. at the eight-home subdivision, located at Herman Avenue and 23rd Street. The project has been named Dr. Cordell Wynn Circle after Dr. Wynn, WCDC's distinguished founder and President Emeritus of Stillman College. The nearly $1.1 million subdivision is the largest project undertaken to date by the non-profit developer.
Read more.