Low-Income Housing

Low-Income Housing

• CWCapital Moves to Open LIHTC Syndication Program

  CWCapital will soon open a low-income housing tax credit (LIHTC) syndication business, Affordable Housing Finance has learned.

   

• Freddie Keeps Tax Credits, Focuses on Preservation

  Freddie Mac has no plans to sell its low income housing tax credit portfolio, and will spend the year focused on preservation deals as it struggles to lower the rates on forward commitments.

   

• Citi Brings $1 Billion to the Tax Credit Market

  Citi Community Capital has closed a $1 billion debt and equity fund to help revive the struggling low-income housing tax credit market.

   

• Finding Shelter

  Faced with plummeting prices and an exodus of investors, the market for low-income housing tax credits (LIHTCs) is at a historic nadir.

   

• Out of Reach

  If and when the economy recovers, rental owners will be looking at a perfect confluence of events—a shortage of available entry-level housing units; a boom in demand driven largely by Millennials; and the ability to push rents to astronomical highs.

   

• Top Priorities in Housing Policy for 2009

  Policy watchers task the Obama administration with rebuilding HUD, managing Fannie Mae and Freddie Mac, juicing up the low-income housing tax credit market, and addressing green building.

   

• Coalition Seeks Protection for Renters in Foreclosed Properties

  More than 20 percent of properties facing foreclosure nationwide are multifamily and single-family rentals, according to a new report from the Washington, D.C-based National Low Income Housing Coalition.

   

• Mike Costa and Partners Buy Simpson Housing Portfolio

  Deal involves the acquisition of a portfolio of 270 properties, with 27,000 low-income housing tax credit (LIHTC)) apartments throughout the United States and Puerto Rico, plus eight properties that are ready to begin construction this year.

   

• Saving Grace: Sister Lillian Murphy

  Sister Lillian Murphy, Mercy's CEO for 20 of its 26-year history, is indeed a formidable force when it comes to championing the cause of low-income housing. “She's not afraid to stand toe-to-toe with congressmen,” notes Shekar Narasimhan, managing partner for Beekman Advisors, a Virginia consulting...

   

• 2007 MFE Top 50: Tax Syndicators - Watching and Waiting

  After a topsy-turvy 2006, syndicators of low-income housing tax credits want some balance. “The market will have to find an equilibrium,” says Andrew Weil, executive managing director of Centerline Capital Group's (formerly CharterMac) Affordable Housing Group. “Going into 2007, there is...