Low-Cost Homes in Pricey Pasadena
PASADENA, CALIF. - When Heritage Housing Partners (HHP) identified a two-acre site near downtown, its aim was to preserve many of the historic homes on the property as well as to build new affordable housing that echoed the classic Craftsman style of the older houses.
Rice, Yordán Take Reins at Enterprise
A former mayor of Seattle and an investment banker from New York have taken over leadership of the affordable housing and community development organizations founded 25 years ago by James Rouse, the legendary commercial real estate developer who revitalized historic sections of Boston, Baltimore...
State LIHTC Funds Prepare for Tough Year
When 2007 came to a close, the Great Lakes Capital Fund had raised a record $220 million in low-income housing tax credit (LIHTC) equity.
What HFAs See in the LIHTC Market
Some low-income housing tax credit (LIHTC) deals are struggling in the wake of declining equity prices.
Centerline on Even Keel in ’08
Centerline Capital Group ranked ninth on AFFORDABLE HOUSING FINANCE’s 2006 rankings of affordable housing lenders.
Equity Focuses on Liquidity, Makes NoAcquisitions in Third Quarter
In the history of Equity Residential, there have only been two quarters when the Chicago-based REIT didn't buy any assets. One of those two quarters just endedthe third quarter of 2008.
In a year when low-income housing tax credit (LIHTC) equity is way down, the industry is also seeing a shift toward proprietary funds, said several LIHTC syndicators.
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.
Rough Waters Ahead for Tax Credit Equity Availability
Tax credit developers could find rough sailing ahead as rental income remains flat while operating expenses rise and the amount of equity investment in their deals shrinks even as construction costs rise.
A Forest in the City
BOSTON - It’s not normal: an overgrown field ringed with thick woodland in the middle of one of the most densely developed cities in the country.