Problem issues of project finance of housing construction

The author analyzes the issues that were decided in practice before the start of the reform of the law on shared construction: refinancing targeted loans, applying credit as the basis for terminating monetary obligations, providing Trade- in services to shared construction participants, developers’ responsibility for violation of shared construction legislation. It comes to the conclusion that phased disclosure of escrow accounts and the real, rather than declarative, possibility of refinancing targeted loans will create conditions for free competition of authorized banks in the project finance market and will allow developers to optimize financial models of investment and construction projects, and legal regulation should be focused on creation of conditions for the development of housing in the context of project financing, with an indispensable condition for protecting the rights of citizens en - participatory construction.