Glenn Petherick • 4 min read
Residents get their electricity mostly for free at Arbor Green Apartments, a new 40-unit low-income housing tax credit (LIHTC) development in Los Angeles County.
Glenn Petherick • 5 min read
For California developer/owner Michael Costa, a lengthy pipeline of future affordable housing disposition and preservation transactions is just getting started.
Glenn Petherick • 9 min read
After a green affordable multifamily rental housing project is completed, either through new construction or renovation, will the expected energy and water cost savings actually be achieved?
Nancy S. Rase • 6 min read
The Housing Partnership Equity Trust, a private real estate investment trust devoted exclusively to acquiring and preserving affordable and workforce multifamily rental housing properties, is the first affordable housing REIT launched by nonprofits.
Glenn Petherick • 4 min read
Per-unit total operating expenses for low-income housing tax credit (LIHTC) properties in a large national sample increased by an average 5.92% between 2010 and 2012, with the three largest cost categories being for payroll, repairs and maintenance, and utilities, according to a new report released by Novogradac & Company LLP, a national accounting, tax, and consulting firm.
Glenn Petherick • 3 min read
On April 3, the Senate Finance Committee, under the reign of new Chairman Ron Wyden (D-Ore.), marked up and approved a bill that would provide for short-term extensions of about 50 expiring federal tax credits and other tax incentives.
Glenn Petherick • 15 min read
Developers continue preserving affordable rental housing by acquiring and rehabilitating existing multifamily properties in a variety of transactions.
Glenn Petherick • 3 min read
Aided by the strengthening economy, federal historic rehabilitation tax credit project activity picked up sharply in the latest full federal fiscal year, suggest new reports from the National Park Service.
Armand Tiberio • 4 min read
The Tax Credit Group of Marcus & Millichap Real Estate Investment Services (TCG), based in Seattle, Wash., has specialized exclusively in LIHTC properties for more than 13 years, providing valuation services and acting as a broker for sellers and buyers.
Glenn Petherick • 3 min read
In interviewing developers and owners for this month’s theme article on preservation transactions (“Preserving,” p. 24), I was struck by the variety of properties acquired and renovated and the different ways that deals are structured.
David A. Smith • 4 min read
At the recent presentation by the National Affordable Housing Management Association of its Community of Quality awards, all five winners were preservation: two 42-year-old Section 236s undergoing rehab; a new-construction rising like a phoenix from razed public housing; a 1928 hotel on its second renovation (1995 and 2013); and the turnaround of a drug-infested eyesore. Among them, virtually everything that we normally consider a property attribute was changed.
Timothy Leonhard • 6 min read
As we near the end of the first quarter of 2014 and await future developments in the debt markets, it is interesting to take a quick glance back at multifamily finance activity in 2013 and some of the challenges we faced in the industry.