Caitlin Jones • 5 min read
An increasing number of investors, owners, management companies, syndicators, and developers have begun outsourcing their low-income housing tax credit (LIHTC) compliance functions to consultants specializing in this service, rather than doing the work in-house.
Caitlin Jones • 3 min read
Gov. David Paterson has announced the appointment of Brian E. Lawlor as Commissioner of the New York State Division of Housing and Community Renewal (DHCR), and as CEO and President of “nyhomes.” The latter organization includes the New York Housing Finance Agency and the State of New York Mortgage Agency.
Caitlin Jones • 14 min read
Might 2010 be “Dow 12,000″ for the tax credit market, a year in which every (good) tax credit project is able to land the equity and the debt needed to move forward?
Caitlin Jones • 6 min read
“It was the best of times, it was the worst of times.” That opening line from Charles Dickens’ Tale of Two Cities pretty much sums up the present for multifamily housing developer Paul Sween, a managing partner of Dominium Development and Acquisition.
Caitlin Jones • 5 min read
REITS do it. U.K. housing associations do it. Even educated non-profits do it. Want to do it. Want to go enterprise finance?
Caitlin Jones • 6 min read
“Where are cap rates headed? That question echoes off the walls at just about every real estate industry cocktail hour. These days, however, I’m hearing a different question reverberate amidst the clinking glasses: “What lies ahead for construction pricing?”
Caitlin Jones • 4 min read
Santa Barbara, Calif., sitting on a hill beside the Pacific 90 minutes north of Los Angeles, may be the home of many rich and famous. But the city still faces an acute shortage of affordable housing for working class and special needs residents.
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.