When you want to build your own apartment buildings, it is necessary that you have the capital for the construction of it. You can still get the needed funds to construct apartment building through grants sponsored by some organization as well as the federal government. In addition to that, these grants can also be used for the renovation and rehabilitation of old and existing apartment buildings as well as relocation for the residents of a destroyed apartment building. These are the grants for apartment buildings and there is no need for you, as the recipient, to repay the sponsors of the grants.
You can try the Multiple Home Owner Grant if you are an owner of an apartment building. You can get the sum of all the grants that are payable for each unit that are eligible.
The federal government also provides grants to communities that have 20,000 or less residents. This program is the Housing Preservation Grant Program under the guidance of the Department of Agriculture. The grants are utilized for the construction, renovation and repairing of the homes, rental and housing units such as apartment buildings as well as co-ops. You can apply to this program if you are a homeowner, landlord, rental property owner and co-op manager wherein your property is occupied by families with very low income.
You can visit their website at rurdev.usda.gov or drop by to the House and Community Facilities Programs National Office of the U.S. Department of Agriculture located at Room 5014 South Building, 14th Street and Independence Avenue SW Washington, DC 20250 or call 202-720-9619.
Another program is the Main Street Grants by the Department of Housing and Urban Development. In this program, unused office buildings are renovated to become housing units that are affordable. Eligible communities are those with 100 public units of house and 50,000 residents. However the grants cannot be used for the repair and renovation of habitable housing units. For more details visit their websites at hud.gov or call 202-708-1112. You can go to their main office at the U.S. Department of Housing and Urban Development at 451 7th St. SW, Washington, DC 20410.
Another program by the US HUD is the HOPE VI. This program gives grants that will assist public housing authorities revive areas for public housing. They can obtain land for construction off-site, tear down public housing that are harshly distressed and for the renovation of existing units. Only the PHAs can apply to this program. You can also contact HUD about this program.