JLC • NEW ENGLAND EDITION • NOVEMBER 1994
EIGHT-
PENNY
NEWS VOLUME 13 • NUMBER 2
NOVEMBER 1994
Most of the old real-estate tax
shelters vanished in the
reforms of the late '80s. Along
with them went the substantial
stimulus they provided to
building activity. But one big
write-off remains for investors:
the credit for investment in
affordable housing. The shelter
is attracting lots of private
money from individuals, banks,
and corporations, and the cash
is flowing into community projects
of all sizes in all 50 states.
How big is the impact? Well,
when the tax credit was made
permanent in the fall of 1993,
multifamily starts nationwide
doubled in one month. The
National Association of Home
Builders estimates that half of
all apartment