Glenn Petherick • 7 min read
The way that Tom Capp and Gorman & Company, Inc. approach the development of multifamily rental housing, historic preservation, and mixed-use real estate projects is to always be on the lookout – for new opportunities, funding sources, and lessons.
Glenn Petherick • 6 min read
Great resident services are good business at Crest Avenue Apartments, in Charleroi, Pa., a community south of Pittsburgh.
Glenn Petherick • 3 min read
The U.S. Departments of Treasury and Housing and Urban Development have established a new partnership designed to stimulate greater use of the Federal Housing Administration’s multifamily risk-share loan program and reduce borrowing costs for developers and owners.
Thomas Amdur • 3 min read
In order to be competitive for new housing subsidies in most jurisdictions, the implementation of a resident services program is practically a threshold requirement. Of course, funding an effective program is a challenge.
Glenn Petherick • 4 min read
Boston Capital planned to launch a new national multi-investor fund in July with a projected after-tax IRR to investors of 6.75%, according to Tom Pereira. The fund is expected to close in October.
Caitlin Jones • 3 min read
The U.S. Department of Housing and Urban Development (HUD) estimates that the shortfall in federal appropriations for the Public Housing Operating and Capital Funds has created a backlog of more than $25 billion in needed physical improvements to the nation’s 1.2 million public housing units, or roughly $24,000 per apartment.
Glenn Petherick • 5 min read
In the first 10 years of the federal new markets tax credit (NMTC) program, 8,060 investments totaling $31.1 billion were made in 3,849 businesses and projects throughout the country, according to new data and a companion summary released by the Community Development Financial Institutions (CDFI) Fund.
Glenn Petherick • 1 min read
On August 5, the Community Development Financial Institutions (CDFI) Fund issued a notice of allocation availability (NOAA) to open the federal new markets tax credit program’s twelfth funding round.
Glenn Petherick • 2 min read
Iowa’s state historic tax credit program has been strengthened and made more predictable for developers by legislative changes that took effect July 1, 2014.
Glenn Petherick • 8 min read
In the immediate Washington, D.C. metropolitan area, which has about four million people and high housing costs, local governments are using a variety of approaches to address affordable housing needs even as they differ in their priorities and available resources.
A. J. Johnson • 4 min read
Owners and managers of affordable multifamily rental housing properties are faced with a relatively new conundrum: The growing number of states that have legalized the use of marijuana for medical or recreational purposes. The challenge includes what policies to adopt to remain in compliance with federal and state laws, such as regulations of the low-income housing tax credit program, U.S. Department of Housing and Urban Development, and USDA Rural Housing Service.
Glenn Petherick • 6 min read
If you ask Jeff Kittle what he likes about being a tax credit developer, he has a quick answer: “It’s a very interesting, complicated business, oftentimes like a puzzle. And I enjoy challenges.”