Tax Credit Advisor Article Archives

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.

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.

The National Housing Crisis Task Force issued a broad swath of policy recommendations for the new administration to address the nation’s housing crisis, including calling for the federal government to “fundamentally restructure” its organization to address the problem and provide billions to rehabilitate existing subsidized affordable housing stock.

By many accounts, 2024 was a challenging year within the affordable housing industry. Multi-year difficulties, such as inflationary pressure, supply chain disruptions and environmental burdens persisted, while fresh hurdles like rapidly rising insurance rates began to take hold.

The New Markets Tax Credit (NMTC) program’s most obvious impact on affordable housing is through financing construction projects with at least 20 percent of revenue from commercial activity.

Peter Bell, president and CEO, National Housing & Rehabilitation Association spoke with Russ Condas, senior vice president of development at Lincoln Avenue Communities, about key opportunities for Lincoln Avenue, implementing Solar for All and dealing with insurance challenges.

When the CTA went into effect on Jan. 1, 2024, both newly formed and previously established companies, large and small (but mainly small) were to provide certain information to FinCEN detailing: 1) “Beneficial Ownership” and 2) “Company Applicants.”

MassHousing will launch a preferred equity product this month designed to move shovel-ready projects forward that have stalled economically.

In recent years, developers have turned to the centuries-old concept of ground leases as a powerful tool in the contemporary struggle to pencil deals and close increasingly wide funding gaps.

Dominating all policy headlines this year will be the tax bill as legislators seek to extend the expiring tax cuts from the Tax Cuts and Jobs Act (TCJA) before increases go into effect in 2026. Senate confirmations, congressional spending and addressing the debt limit are the other must-do items on the list, which will likely happen in the first half of the year.  

A new crop of digital community engagement tools is giving developers an avenue to bring resident voices into the planning process without requiring attendance at long public meetings.

Sindy Spivac, the West Region Market executive for Bank of America’s Community Development Banking Division, spoke with Caleb Roope, president and CEO of The Pacific Companies about overseeing multiple interrelated companies in the areas of development, finance, architecture, construction and property ownership