HTC Archives

A Honolulu bank building has been turned into affordable housing for very low-income residents with an adaptive reuse funded through Historic Tax Credits (HTC), Low Income Housing Tax Credits (LIHTC) and subsidies from city, county and state sources.

A building dedicated to helping boys in Worcester, MA, for decades, is undergoing an adaptive reuse that will turn it into affordable housing for seniors.

A big societal change in recent years has been that many grandparents are bringing up grandchildren. Now there are signs that affordable housing is starting to target these often low-income intergenerational or multigenerational families.

Player pianos always have had an aura of magic as beautiful music emerges from them seemingly without human assistance. Now, some industrial magic is set to transform an old player piano factory in the north end of Meriden into beautiful multifamily units.

In recent years, owners and developers of low-income housing have turned to the Historic Tax Credit program as another key source of funding for projects looking to preserve or create affordable apartments in historic buildings.

Since 2010, the Novogradac Journal of Tax Credits has awarded several developers for distinguished work in a variety of impact areas related to affordable housing.

Historic tax credits can significantly help multifamily financing, particularly for projects involving the rehabilitation and preservation of historic buildings. The Ocean Center Apartments in Long Beach, CA, serves as an example.

As skyrocketing construction costs and increasing interest rates have driven the need for more capital, affordable housing developers are expressing an increased interest in the master lease pass-through structure in deals involving a combination of Low Income Housing Tax Credits (LIHTC) and Historic Tax Credits (HTC).

Charles Dickens’ character Scrooge defined British attitudes towards housing the poor in the 19th century with a dismissive “Are there no prisons? Are there no workhouses?”

Historic Tax Credit (HTC) advocates are hopeful fiscal year (FY) 2024 spending will be resolved to clear the path forward for a possible year-end tax bill.

In a financial environment that is challenging for getting deals to the closing table, all sorts of structures that might generate additional proceeds need to be considered.

Bank of America Community Development Banking (CDB) provided $7.85 billion in loans, tax credit equity investments and other real estate development solutions in 2022, surpassing the previous record of $6.7 billion generated in 2021.