The Clover

Georgiaville Village Green is one of the first affordable housing developments for families in Smithfield, Rhode Island. Once home to the Narragansett Gray Iron Foundry, Gemini Housing Corporation remediated and replaced a brownfield site with a 42-unit complex. This townhome community mirrors the architecture of historic Georgiaville Village while maintaining a cohesive design that is surrounded by greenery built to street edge. Units are available for single-family residents earning between 30-60 percent of the Area Median Income (AMI).  

The new homes at Georgiaville Village Green offer 3 one-bedrooms, 22 two-bedrooms, and 18 three-bedrooms. Five homes are reserved for very low-income households earning no more than 30 percent AMI through the Section 811 program, which offers supportive services to those residents with disabilities. The Smithfield area holds a range of shopping centers, medical centers, restaurants, and other amenities. 

This building’s “green” features include storm water runoff management, 46-kW solar photovoltaic systems, and the construction led to efforts to clean the contaminated lagoons and rehabilitate nearby riverbanks.  

Georgiaville Village Green was a 2020 AHF Readers’ Choice Awards Finalist in the Family category. Funding from the Local Initiatives Support Corporation (LISC) and Community Development Block Grant (CDBG) program made the remediation and land purchase possible. Sponsored by Gemini Housing Corporation and housing authority affiliate, Coventry Housing Associates, NEF contributed an investment of about $8.1 million in LIHTC equity.  

The Lippitt Mill project is the historic rehabilitation and adaptive reuse of a nationally designated historic lace mill in West Warwick, Rhode Island. The 71-unit affordable project will include the redevelopment of the mill building and the 
construction of a new 4-story structure on the same lot.

Constructed in 1809, Lippitt Mill is Rhode Island’s third oldest mill and had been the longest continuously used mill when it closed in 2012. In 2020 an unrelated developer began the property’s restoration of the mill as a LIHTC and Historic Credit project but ran into issues with construction, including COVID related delays, severe damage to interior renovation work caused by flooding, and ultimately disputes with the general contractor. The property was foreclosed by the construction lender, and Marathon Development acquired the property through receivership in 2024 at a stage of roughly 60% construction completion. Marathon propose to “step into the shoes” of the previous developer, assuming its already incurred LIHTC and Historic basis, and to complete the project largely as designed by the prior owner. The project will include the redevelopment of the mill and the construction of a new addition to the existing structure.

Florence Mills Apartments (FMA) is an environmentally-forward and thoughtfully designed mixed-use affordable housing building in the Central Avenue Historic District of South Los Angeles. FMA offers 74 new apartments with a mix of one-, two-, and three-bedrooms, approximately 5,000 square feet of commercial retail on the ground floor, community spaces for on-site resident services, and one level of subterranean parking. The apartment community is home to 54 large low-income families earning less than 60 percent of the Area Median Income (AMI) and 19 homeless veterans and families earning less than 18 and 9 percent AMI, respectively. The architecture integrates design elements to satisfy the needs of future residents, foster a sense of community, and reduce the environmental impact of the building. The building's namesake and mural subject, Florence Mills, was an extraordinary African American singer, dancer, and a passionate advocate of racial rights who captivated audiences during the golden age of Jazz in the 1920s. This community was a 2021 finalist in the Charles L. Edson Tax Credit Excellence Awards and the AHF Readers' Choice Awards - Urban Category.

FMA was developed by Hollywood Community Housing Corporation. NEF invested over $25 million of LIHTC equity into this development.

Constructed on a blighted parking lot in a transitional neighborhood in Rochester, NY, The Eastman Reserve seeks to help transform the community into a safe, sustainable residential area with connections to existing amenities and employment opportunities. The 187-unit mixed-income mixed-use complex is comprised of townhouses, single-family homes and multi-family apartments that target a range of households including homeless youth and domestic violence survivors. Supported by Empire State Supportive Housing Initiative (ESSHI) funding, 69 apartments are affordable to households earning 50 percent or less of the Area Median Income (AMI), including 27 special-needs units: five targeting homeless young adults (18-25) and 22 are reserved for domestic violence survivors. Most of the other units are affordable with 66 at 50-60 percent AMI, 33 units at 60-90 percent AMI, and 19 units at 90-120 percent AMI. Residents have access to on-site supportive services such as counseling, legal, and healthcare services as well as a variety of modern amenities.

The Eastman Reserve won a 2020 Developments of Distinction Award for the Development that Best Preserves Metropolitan Community Impact and was a 2021 AHF Readers' Choice Awards - Family Category Finalist.

Sponsored by PathStone Development Corporation, NEF invested nearly $20 million of LIHTC equity into this development.

Center City Apartments 9% is the first of two phases in the transformation of a three-acre blighted site on Taunton Avenue in East Providence, RI. The project is comprised of the new construction of a 4-story building at 330 Taunton Avenue to create 41 apartments and the gut renovation of an existing 4-story building at 350 Taunton Avenue to create 54 apartments. A second phase, expected to be financed with tax-exempt bonds and 4% tax credits, will create an additional 46 affordable new apartments in a new construction building at 354 Taunton Avenue.

The Project location, about 2.1 miles east of downtown Providence, has excellent walkability, bike-ability, and easy access to public transportation, as well as other neighborhood amenities such as schools, parks, healthcare facilities, and grocery stores. The property falls within the Taunton Avenue Overlay District, similar to a Transit Oriented Development district, which calls for greater density and connection to transit access and other multi-modal transportation infrastructure. The site is located on a portion of Taunton Avenue that is mostly urban commercial, and the community has identified new residential development as a priority to help alleviate housing shortages within the area and promote continued growth in East Providence. There are no non-subsidized LIHTC developments identified within East Providence so Center City Apartments will be the first in this area.

Brushwood Farm Housing is a new construction development located in Lenox, MA. Once complete, it will include a total of 65 units, 50 of which are LIHTC?eligible units under the Average Income Test set aside, including thirty six (36) for households earning 60% or less of Area Median Income (AMI), five (5) for households earning up to 80% of AMI and nine (9) designated for extremely low?income tenants at or below 30% of AMI.  The  nine  extremely  low?income  tenants  will  all  be  supported  by  project  based  rental  assistance  through  the Massachusetts Rental Voucher Program (MRVP). The remaining 15 units will be target families at up to 120% of AMI.  

This project will consist of 13 two? and three?story, rental town home buildings and a stand?alone clubhouse. The one?story, clubhouse/community building will be approximately 3,100 sf with 1,700 sf of walkout basement area containing a maintenance and mechanical area, while the first floor will hold a variety of community amenities including a reception area, community room, resident services room, office, conference room, A/V and work room, and a fitness room.  

Casa de la Mora is a newly constructed, 73-unit LIHTC mixed-tenancy community located in Yakima, Washington. The development features a four-story, elevator-serviced building with an L-shaped footprint. Rents are affordable to households earning between 30% and 60% of the area median income (AMI). The community prioritizes housing for homeless young adults, disabled residents, and families.

The building comprises twenty-nine 1-bedroom units, twenty-eight 2-bedroom units, one 2-bedroom manager unit, and fifteen 3-bedroom units. On the ground level, there are sixteen residential units along the east and west wings, as well as a full range of residential and operational spaces. These include vestibules and entry lobbies, circulation corridors, management offices, a conference room, mail area, a community room with an ADA-compliant kitchen, a restroom, laundry room, mechanical and electrical rooms, a janitor room, elevators, stairs, and a maintenance room with exterior access.

Elmonica Station - Closing Projections