Caitlin Jones • 7 min read
Boston-based developer Trinity Financial, Inc. is in the process of transforming a rundown historic former textile mill in Lowell, Mass. into affordable live/work apartments targeted to local artists, in a $64 million transaction featuring a creative financial structure and innovative design.
Caitlin Jones • 5 min read
Unemployment has been tough for Americans in general. But for young adults the picture has been even rougher. And when you throw in youths “aging out” of foster care – turning 18 – the odds are brutal.
Caitlin Jones • 5 min read
When low-income housing tax credit prices stratify – as they now are – and overall demand shrinks – as it now has – fissures open up in the marketplace. Some mixes of location, income band, and financing strategy that used to work in the happy Before Time no longer work in the Now. One such, near and dear to my heart and that of this issue’s readers, is preservation, being hit by a double whammy.
Caitlin Jones • 3 min read
The federal historic rehabilitation tax credit is a powerful incentive that has produced substantial economic benefits at the national, state, and local levels, as well as other positives, according to a new study prepared by the Rutgers University Center for Urban Policy Research.
Caitlin Jones • 6 min read
Also proposed is a new Transforming Rental Assistance (TRA) initiative, requiring legislation to establish, which is designed to create a uniform single funding stream for public housing and HUD-assisted multifamily properties and to consolidate 13-plus existing HUD rental assistance programs into one.
Caitlin Jones • 1 min read
The LIHTC primary investment market got a breather in February, as Fannie Mae and Freddie Mac in filings with the Securities and Exchange Commission reported that the Federal Housing Finance Agency has told them they may not sell or dispose of their existing LIHTC investments.
Caitlin Jones • 3 min read
Joseph Hagan, president and CEO of National Equity Fund, Inc., has been elected as the new president of the Affordable Housing Tax Credit Coalition (AHTCC), a national nonprofit organization of syndicators, developers, lenders, and other participants and advocates of the federal low-income housing tax credit. Chicago-based NEF, a national nonprofit syndicator, has a $7.3 billion housing credit portfolio.
Caitlin Jones • 4 min read
On March 10, Congress moved closer toward final approval of several affordable housing, historic preservation, and economic development tax incentives as the U.S. Senate passed its own version of an extenders bill (H.R. 4213).
Caitlin Jones • 2 min read
Enterprise Community Partners, Inc. and CAS Financial Advisory Services (CAS FAS) have jointly developed a green audit protocol for existing affordable multifamily housing buildings.
Caitlin Jones • 5 min read
The U.S. Department of Housing and Urban Development (HUD) hopes to shift to priority processing of applications as part of sweeping changes to its FHA multifamily mortgage insurance programs, Department official Christopher Tawa told National Housing & Rehabilitation Association March conference attendees.
Caitlin Jones • 7 min read
More and more corporations are saying “let’s make a deal” to investments in federal low-income housing tax credits, according to industry participants. Several suggest that housing credit investment yields may have peaked, and that greater investor demand may eventually boost credit pricing in certain markets.
Caitlin Jones • 3 min read
The Community Development Financial Institutions (CDFI) Fund has published a notice to solicit applications for funding under the initial round of the new Capital Magnet Fund (CMF) program by April 15. At the same time, the CDFI Fund published proposed regulations for the program and requested comments by May 14.