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
