Tax Credit Advisor Article Archives

On his first day in office, President Trump issued a Presidential Action aimed at reducing the cost of living and increasing prosperity for American workers. This includes directives to lower housing costs and expand supply.

Tax Credit Advisor sat down with Novogradac to get his take on the current state of the industry and its future, as well as the pending policy issues that could greatly impact the industry.

The Department of Housing and Urban Development recently adopted a rule update to its Home Investment Partnerships program (HOME). This is the first major update to the HOME program since 2013.

The adaptive reuse of the historic Daugherty Furniture Company building in Clinton, TN, turning it into 39 units of affordable housing, is reviving one of its original uses, as the upper floors were devoted to housing when the retail property was built in the 1940s.

The affordable housing sector, crucial for over a million Americans, is navigating uncertain times. A recent NH&RA panel offered a platform for thought leaders to discuss the future and share insights.

In a story worthy of Charles Dickens, last Christmas Eve, Malcolm (Mike) Peabody, a 20th-century titan of affordable housing, died at the age of 96, all but unnoticed except for the legacy of initiatives and entities that he and his forebears have stood up over the decades. As I read his obituary, and that of his ancestor George Peabody, ‘the father of modern philanthropy,’ the thought came to me, entities endure. 

What happens if a development doesn’t qualify for one of Housing New Mexico’s many regular affordable housing programs?

Taking the cue from the success of build-to-rent (BTR) single-family homes in the market rate space, some affordable housing developers are building the product for low-income families looking to live in single-family homes.

For mission-committed developers who have taken up the task of building subsidized affordable housing for seniors, HUD’s Section 202 program has continued to provide a vital financial boost to new senior housing projects.

Housing advocates from Novogradac’s working group are hopeful that the Opportunity Zones (OZ) program will be extended and enhanced by incoming secretaries of the Treasury and the Department of Housing and Urban Development (HUD).

Dominium, using $79 million of Low Income Housing Tax Credit equity raised through Blackstone, is developing more than 500 affordable family and senior housing units in Phoenix in two separate but neighboring projects.

Virginia residents who want to work for Fairfax County or make their views known on matters pending before the county government now may not have far to go, thanks to a Low Income Housing Tax Credit project being developed by Lincoln Avenue Communities on an underused parking lot at the county Government Center using an innovative “quadruplet” structure.