Affordable Housing Finance Update – January 21, 2015


Supreme Court Set to Hear Disparate Impact Arguments

The Supreme Court on Wednesday will hear arguments in a case that could change the way low-income housing tax credits (LIHTC) are allocated. Read More

What Is the Capital Magnet Fund?

Four years after making its first and only awards, the Capital Magnet Fund (CMF) is poised to return. Read More

Be Counted in the AFH 50

It’s time to be counted in Affordable Housing Finance’s annual AHF 50 lists of the industry’s top owners, developers, and firms completing acquisitions and rehabs. Read More

HUD Announces Choice Neighborhood Planning Grants

A total of $3.2 million will help communities in Alabama, Indiana, Kentucky, Michigan, Missouri, and Nevada revitalize neighborhoods. Read More

Avanath Acquires 8 Affordable Housing Communities in 2014

Affordable housing acquisitions will continue to be a focus for the Irvine, Calif.-based firm in the year ahead. Read More

Texas Developer Accused of Gambia Coup Attempt

Cherno Njie, a Texas affordable housing developer and former housing official, is accused of trying to overthrow the government of Gambia. Read More

New Leaders Named for CTCAC, CDLAC

Mark Stivers has been named head of the California Tax Credit Allocation Committee, and Jeree Glasser-Hedrick will lead the California Debt Limit Allocation Committee. Read More

Nonprofit CEO to Lead Massachusetts DHCD

Chrystal Kornegay, who has been leading Urban Edge, is Gov. Charlie Baker’s pick to head the Massachusetts Department of Housing and Community Development. Read More

70,000 Vie for Affordable Units at N.Y. Development

More than 70,000 applications have poured in from families hoping to land one of 38 units at the Frost Street Apartments under construction in Brooklyn. Read More

Report: NYC Losing Affordable Units in High-Opportunity Neighborhoods

Over the next decade, more than 58,000 units of subsidized rental housing will be eligible to opt out of affordability restrictions. Read More

ABHOW Reorganizes Its Affordable Housing Division

To enhance its growth, subsidiary Beacon Communities acquires Seattle-based Beacon Development Group. Read More

People on the Move

Read about the latest hires and promotions at Jones Walker, Red Capital, Friedman, Hunt Mortgage, Great Lakes Capital, The Habitat Co., California Housing Partnership, and Berkeley Point. Read More

CREA Raised $475 Million in 2014

City Real Estate Advisors announces that it closed $430 million in investor equity in 2014 and is raising another $45 million from investors in transactions that will close in the first quarter of this year. Read More

Stratford Capital Closes $100 Million LIHTC Fund

The fund will help finance the development of 18 properties with more than 2,000 affordable apartments for families and seniors. Read More

HIT Invests $8.3 Million in Prominent NYC Project

Hunter’s Point South Building A will offer 619 housing units and is part of a grander project that will be the largest new affordable housing development built in the city since the 1970s. Read More

U.S. Bank Helps Finance 38-Unit Seniors Housing Project

Accessible Space and U.S. Bank have closed on the financing to build a 38-unit seniors housing community in Great Falls, Mont. Read More

Boston Capital Invests in Idaho Development

The Trailwinds Apartments will feature 64 new affordable units for residents in Garden City, Idaho. Read More

CohnReznick to Acquire Real Estate Consulting Firm

CohnReznick, a leading accounting, tax, and advisory firm, has signed a letter of intent to acquire NOI Strategies, a global real estate and construction consulting company. Read More

Calendar of Events

See what industry events are taking place in the coming months. Read More

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