Bank of America Reports on Community DevelopmentActivity
Bank of America reported providing $168.2 billion in community development lending and investing, including $147 billion in affordable housing, during the first year of a 10-year community development goal.
Construction Begins on Big Bear Project
Urban Housing Communities, LLC (UHC), has begun construction on The Crossings at Big Bear Lake, a 42-unit affordable housing development that will be the California resort community’s first affordable project targeted toward families.
CTCAC Offers Reminder for Sec. 1602 Deals
The California Tax Credit Allocation Committee (CTCAC) issued an important notice to developers who have received Sec. 1602 tax credit exchange funds.
Boston Capital Invests in Two Projects
Boston Capital recently invested in two affordable housing developments—Toberman Village, a to-be-built 49-unit development in Los Angeles, and Windsor Crescent, a to-be-built 112-unit affordable development in Jackson, N.J.
CTCAC Announces Third Round
The California Tax Credit Allocation Committee has announced a third funding round for 4 percent low-income housing tax credits with state tax credits.
First Capital Magnet Funds Awarded
Twenty-three organizations will receive $80 million in grants to finance affordable housing under the new Capital Magnet Fund.
Red Stone Announces Latest Bond Deals
Red Stone Partners has acquired $30.3 million in unrated multifamily housing bonds financing stabilized 4 percent low-income housing tax credit (LIHTC) properties in California and Texas.
California Releases Proposed Changes
The California Tax Credit Allocation Committee has released its proposed regulation changes, including the elimination of its small development set-aside, for 2011.
Industry Vets Launch LIHTC Firm
LOS ANGELES— Neil Socquet, a veteran of the low-income housing tax credit (LIHTC) industry, has formed a new syndication firm, IFG Capital.
Multifamily Predicted to Hit Bottom by Year End
If you thought the multifamily industry bottomed out in 2009, hold on to your hats.