Establishing Upfront Feasibility
The dearth of tax credit equity, more conservative debt underwriting standards, and vanishing sources of soft capital are making it much more difficult to pencil out deals.
International Buyers Desert Condo Markets
Think things couldn’t get worse for condominium developers? Think again.
Kimball Hill Shuts Its Doors
The troubled economy has claimed another victim as Kimball Hill Homes, the Rolling Hills, Ill.-based developer, announced that it was shutting its doors Dec. 3, 2008.
Developers Urge CTCAC to Keep Two Rounds
Low-income housing tax credit developers in California like having two allocation rounds.
Northeast Developers See Danger, Opportunity
Broken windows and splintered front steps mar the empty home at 160 Elm St. in Orange, N.J. The twostory house is one of dozens aught up in the web of bankruptcy and indictments surrounding the collapse of a fraudulent local lender, NJ Affordable Homes Corp.
RICHMOND—Developers will have to do more to win low-income housing tax credits (LIHTCs) in Virginia in 2008.
CHICAGO—The Illinois Housing Development Authority (IHDA) has made some significant changes to its 2008-2009 qualified allocation plan (QAP), revamping its setaside categories and offering incentives for lower-income targeting and green building techniques.
PHOENIX—For the second year running, Arizona’s Department of Housing (ADOH) has reorganized its tax credit competition without changing substantive goals.
Tax-Exempt Bond Financing Weathers the Storm
Tax-exempt bond financing will be readily available and affordable in 2008, with industry watchers reporting that price increases were rare even as the capital markets remained in flux heading into the fourth quarter of 2007.
Construction Financing Unscathed by Credit Crunch
Affordable housing developers will be able to procure construction financing next year with relative ease, even as the rates and terms of permanent debt become more challenging.