National Equity Fund (NEF) launched its groundbreaking Affordable Housing Equitable Access for Developers (AHEAD) initiative to create access to capital for and build the development capacity of non-traditional developers of affordable housing financed with Low-Income Housing Tax Credits (LIHTC).
AHEAD began with a group of investors that share NEF’s commitment to create impact through LIHTC investments and contributed to NEF’s inaugural AHEAD fund for non-traditional developers. Together, NEF and these investors created access to debt and/or equity for more than 13 affordable housing developments led by non-traditional developers by providing backstop guaranties and/or funding for consultants and/or other professionals to better align with industry standard underwriting guidelines for Experience and/or Guarantor Financial Capacity.
Today, AHEAD has expanded and now includes both proprietary and multi-investor LIHTC equity funds as well as NEF’s Pay It Forward program that provides LIHTC application pre-development funding assistance. AHEAD maintains an intentional focus on supporting non-traditional developers.
AHEAD seeks LIHTC equity investors interested in partnering with NEF to support non-traditional developers in proprietary and/or multi-investor funds.
AHEAD seeks non-traditional developers that have material development experience with at least one LIHTC development, as the developer/owner, co-developer/co-owner, or other real estate development experience acceptable to NEF and guarantor financial capacity acceptable to NEF. AHEAD developers will also demonstrate their long-term commitment to LIHTC development.*
*Matching this profile does not guarantee eligibility for participation in AHEAD.
The following developments led by AHEAD developers have completed construction and delivered much needed new and rehabilitated affordable homes.
The following developments led by AHEAD developers are progressing through construction and will deliver much needed new and rehabilitated affordable homes in the near future.
KEY CONTACT:
Lydia Smith, Managing Director, Impact
