News

Thank you to our friends at Freddie Mac for this incredible feature on St. Catherine De Vigri Villas in Tieton, Washington. Because of Freddie Mac's LIHTC equity investment and the passion and drive of our developer partners at Catholic Charities Housing Services, the Tieton community now has 53 units of affordable housing -- the first new, affordable housing development in 30 years -- dedicated to farmworkers and their families.

Congratulations to our friends at HELP USA on Preservation Alliance for Greater Philadelphia Grand Jury Award for the Lt. Colonel Hazel Johnson-Brown Veterans Center at HELP Philadelphia VI!

This incredible historic preservation development was adapted into 55 affordable housing and supportive housing units for low-income seniors, veterans experiencing homelessness, and people with disabilities.

Congratulations to our partners at Self-Help Enterprises (SHE) on the grand opening of Palm Terrace II in Lindsay, California! The second phase of this affordable housing development offers 54 new units and completes the Palm Terrace rental community, which now provides a grand total of 104 units. With a focus on low-income families, six of the units will be Permanent Supportive Housing (PSH) earning 30 percent of the Area Median Income (AMI).

Congratulations to our partners at Lincoln Avenue Capital (LAC) and The Housing Authority of the City of Alameda (AHA) on their commitment to preserving up to 132 units of affordable housing at Rica Vista Apartments for the next 55 years! The existing market-rate property will be converted into workforce housing (or moderate income rental housing) in one of the most expensive housing markets in the nation, the Bay Area...

We were encouraged to see the latest statement from the FDIC that the newly established Bridge Banks for the closures of Silicon Valley Bank and Signature Bank will be required to meet their contractual obligations, including fulfilling equity investments and construction loans...

National Equity Fund (NEF) is actively monitoring the Silicon Valley Bank (SVB) receivership and broader banking market closely, while we wait for additional guidance from the FDIC. Our experienced team is in active conversations with investors, developers, state agencies and other external stakeholders. And while we recognize that we don’t yet have all the answers, NEF remains in a strong position to help navigate the impact on the affordable housing industry both now and in the future.

Congratulations to our partners at Full Circle Communities (FCC) and Alternatives for Girls (AFG) on the successful groundbreaking at Dr. Maya Angelou Village in Detroit! The event was well-attended with Mayor Mike Duggan, city council representatives, and other important community members and stakeholders.

Located in Detroit's Miller Grove neighborhood on a decade-long vacant land, Dr. Maya Angelou Village will provide 45 units of affordable and permanent supportive housing for individuals and families at risk of homelessness. 

We were honored to celebrate with The Resurrection Project (TRP) at their ribbon cutting ceremony of Casa Durango in the Pilsen neighborhood of Chicago last week! The gathering included a multitude of community members, residents, partners, as well as state and local officials.
 
Casa Durango is a 53-unit multi-family rental housing development named after the Mexican State of Durango, where many residents of Pilsen came from.

Sending our sincerest congratulations to our partners at Trellis on their grand opening of Trellis @ Mission in Phoenix, their first LIHTC affordable housing rental development! After 15 years, this rental property will become available for ownership and low-income renters will have the opportunity to purchase their units. This program encourages community stabilization and allows residents to invest in their property and neighborhood.

Congratulations to our partners at Bear Development and Waukegan Housing Authority on the completion of The Bluffs at South Sheridan (formerly Barwell Manor) in Waukegan, IL! 

In case you missed it, the February 15, 2023 issue of The Wall Street Journal listed the Best and Brightest Companies in the Nation and National Equity Fund is one of the honorees! We are thrilled to be recognized by The Best and Brightest Programs as a 2022 National winner. NEF was also named one of Chicago’s 2022 Best and Brightest Companies to Work For®, which recognizes companies committed to excellence in human resources and employee enrichment.

Congratulations to our partner Barbara Gualco on her retirement from Mercy Housing California. For 35 years, Barbara worked to expand affordable housing as the Regional Director of Real Estate Development for the Bay Area. In partnership with NEF, Barbara worked to create more than 500 affordable and supportive homes that helped empower Bay Area seniors, people experiencing homelessness and other vulnerable communities.

Congratulations to our partners at Episcopal Community Services of San Francisco, Mercy Housing, and all of the organizations and individuals involved in the grand opening of 1064 Mission Street! 1064 Mission Street is San Francisco’s largest and most comprehensive permanent supportive housing (PSH) site. This community provides 256 units of affordable housing to formerly homeless adults and seniors. 

Despite continued economic and market headwinds, NEF invested over $1.2 billion in Low-Income Housing Tax Credit (LIHTC) investments and nearly $900 million to preserve existing affordable housing throughout 2022, resulting in nearly 15,500 affordable homes nationwide.

We are buzzing with anticipation for construction to begin on OST Lofts in Houston! As the city struggles with a shortage of affordable housing, the City Council has approved a loan to the Tejano Center for Community Concerns to build a 130-unit affordable housing development on purchased land. The city was already experiencing a shortage of affordable housing before the devastation of Hurricane Harvey depleted nearly 25 percent of its existing units...

Congratulations to our partners at Bear Real Estate Group on last month's closing of The Flats at 402 in Madison, Wisconsin. Because of our partners at Bear Real Estate, and an incredible $12 million in financing from NewPoint Real Estate Capital, some much needed affordable housing will soon be available for individuals and families in the area. Within four blocks of the Wisconsin State Capitol, this affordable housing community will provide 54 homes...

Congratulations to all involved in this month's ribbon cutting of Hayu Tilixam! We are so proud to partner with organizations like Native American Youth and Family Center (NAYA) and Community Development Partners (CDP), who lead the charge in developing this project in Portland's Cully neighborhood.

Hayu Tilixam, which means "Many Nations" in the Chinook language, offers 50 new affordable housing units and is the third project by CDP and NAYA to provide housing opportunities for the Native community in northeast Portland...

Congratulations to our partners at Housing Visions Unlimited, Inc on the official ribbon cutting for Northwoods, a new affordable and supportive living community in Plattsburgh, NY! The ceremony was attended by partners, investors and state and local officials. This development brings 80 homes (1, 2 and 3-bedrooms) for individuals and families earning 80 percent or less of the AMI. Half of the units will include mental health support services through the New York State Department of Mental Health...

Our team had a wonderful time at the grand opening of The Groves senior development in San Juan Capistrano, California! The Groves is a new, 75-unit affordable senior living community created by our incredible partners at C&C DEVELOPMENT CO., LLC. The project offers 1- and 2-bedroom homes and features amenities that will benefit active seniors, including walk-in closets, elevator services and ADA accessible and adaptable units...

Sending a big congratulations to our partners at Community Corporation of Santa Monica on the groundbreaking of Red Tail Crossing. This is the first entirely affordable housing and permanent supportive housing development in the Westchester area! Red Tail Crossing will serve households earning between 15 and 70 percent of the AMI. The development will also bring a total of 102 units to the area in a mix of 1, 2 and 3-bedrooms. 40 of the 1-bedroom units will be reserved for formerly homeless individuals and 52 will be reserved for families...

Sending a big congratulations to our partners at Xenolith Partners on winning the Community Impact Competition for their project The Rise. Located in Brownsville, Brooklyn, The Rise is a 72-unit mixed-use development that offers affordable and supportive housing for formerly incarcerated individuals and families. Xenolith collaborated with the Women's Prison Association and the Brownsville Partnership to bring this project to life, which just broke ground in November 2022...

Congratulations to our partners at Juliette Fowler Communities on the celebration of its 130th anniversary and the dedication of the newest building, The Peak at Fowler! Last month, members of the organization were joined by Dallas officials and community members to honor 130 years of collaborative care and service.

The Peak is a 144-unit development for independent-living seniors, addressing the "forgotten middle" senior. These are seniors who can neither afford higher-priced apartments nor qualify for lower-income housing...

We are extremely proud of our SVP and Chief Human Resources Officer, Jaclyn Jackson, who was recently featured on an episode of the How Women Inspire Podcast by How Women Lead!

Our sincerest congratulations to our president & CEO, Matthew Reilein, who has been recognized as one of Crain's 2022 Notable Nonprofit Board Leaders! Read about how Matt's leadership at Chicago Community Loan Fund (CCLF) helped alleviate racial disparities in the financial and affordable housing sectors and inspired the creation of CCLF's Communities of Color fund.

Congratulations to our partners at Holladay Ventures on the groundbreaking of Stone Bridge Lofts, a 311-unit, mixed-use development in Goodlettsville, Tennessee! This is NEF's first deal in Tennessee in some time and will cater to residents earning between 50 and 60 percent of the Area Median Income (AMI). Thank you to our partners at Holladay Ventures for your commitment to building attainable and affordable housing, and thank you to our investors at Amazon Housing Equity Fund and the German American Bank...

Congratulations to our partners at Stewardship Development, the Housing Authority of Lincoln County (HALC), Cornerstone Community Housing and Oregon Housing & Community Services (OHCS) on last week's groundbreaking of Wecoma Place, a new affordable housing community in Lincoln City, Oregon! The new development will bring 44 affordable homes to the area, all of which will be one and two-bedroom units available to residents between 30 - 60 percent of the Area Median Income...

"A Joyous Dedication" couldn't be more accurate for last week's grand opening of WSFSSH at West 108th Street. Located in the expensive Upper West Side of Manhattan, WSFSSH at W. 108 is an innovative co-location of 100 shelter beds for seniors experiencing homelessness and 199 permanent supportive housing units for low-income and formerly homeless seniors, many of whom are living with serious mental illness and/or substance-use disorders.

Another big win for New York City, this time, on Staten Island! In partnership with Iris Holdings Group, NEF is proud to support the refinancing of the Seaview Estates Complex, a 316-unit multifamily development in the St. George waterfront neighborhood. The complex is comprised of four buildings with affordable homes ranging from studio to three-bedrooms...

NEF is thrilled to announce that our very own Debbie Burkart is being inducted into the 2022 Affordable Housing Hall of Fame! A critical thinker, problem solver, motivator, and pioneer in every sense of the word, we are honored to have Debbie as a member of our team and as a 2022 inductee. We cannot wait to celebrate this momentous occasion at AHF Live: The Affordable Housing Developers Summit, Nov. 14-16, in Chicago.

A huge congratulations to our partners at Berkeley Food & Housing Project and BRIDGE Housing Corporation on the grand opening of The Hope Center and Berkeley Way Apartments, the largest affordable housing development in Berkeley, CA! This innovative development is located at 2012 Berkeley Way and composed of two entities combined into one building with the purpose of easing and ending the crisis of homelessness in Berkeley...

Congratulations to our partners at Mercy Housing (California) on breaking ground at the Veterans Villas at San Antonio in Norwalk, CA last week! Representatives from the City of Norwalk, California and Silicon Valley Bank were present for the celebration. NEF's very own Todd Fabian spoke at the event. The new development will have 60 units dedicated to housing veterans.

Sending a huge congratulations to our partners at New Hope Housing, Inc. on the grand opening of Avenue J, a new, 100-unit development in the heart of Houston's historic East End neighborhood. In a community undergoing rapid gentrification, Avenue J offers homes to residents earning between 30 and 60 percent of the Area Median Income. This is New Hope Housing's first development focusing specifically on low-income communities. Historically, the organization has focused on building permanent supportive housing complexes with supportive services for Houston's vulnerable populations.

NEF was thrilled to attend the grand opening of the Ruth Ellis Clairmount Center in Detroit! The opening of this wonderful permanent supportive housing development brought together residents, civic leaders, investors, developers and neighborhood supporters to participate in a ribbon-cutting, tour of the building and a block party to celebrate a new community cornerstone. With the creation of the Ruth Ellis Clairmount Center, LGBTQ+ youth have access to 43 units of permanent supportive housing, a community health & wellness center, career training and more...

Congratulations to our partners at RUPCO, Inc and investors at TD on the ribbon-cutting of Landmark Place, a new construction and historic preservation development in Kingston, NY! The development consists of the rehabilitated former Kingston Almshouse (Landmark West), which consists of 34 studio apartments. The new construction (Landmark East) is a 4-story building with 32 one-bedroom apartments. All 66 apartments cater to seniors 55 and older. 35 of the apartments are reserved for formerly homeless seniors...

NEF is thrilled to celebrate the grand opening of PATH Metro Villas in Los Angeles! Because of our partners at People Assisting The Homeless (PATH), 187 affordable housing and supportive housing units (and 98 interim housing beds) are available for residents. PATH Metro Villas is an expansive urban campus for low-income households and formerly homeless veterans and individuals. Now, residents can have a safe, stable home in addition to...

“This building exemplifies how NYCHA is a driving force in the multi-agency effort to create and preserve affordable housing in New York City. We are excited to be here to celebrate the completion of the building's superstructure, and we look forward to welcoming over 100 households into their new homes soon,” said NYCHA Executive Vice President of Real Estate Jonathan Gouveia...

“Throughout my career in social services, I have been committed to using my talents to help improve the lives of families and individuals in the communities I have had the honor to serve."  Jaclyn Jackson, NEF SVP and Chief Human Resources Officer.

Team NEF recently attended the groundbreaking of 340+ Dixwell, a new development in New Haven, CT that will be the first-ever LIHTC complex to be made with a mass timber structure and technology system, which utilizes wood from a renewable forest. This development will bring 69 total units to the area, with 55 being reserved for low-income families.

Today, The Community Preservation Corporation (CPC), National Equity Fund (NEF), and Cinnaire announced their joint partnership in CPC Mortgage Company, a national mortgage lending company specializing in multifamily Agency finance products. This first-of-its-kind cooperative leverages the resources and expertise of its three nonprofit owners to increase access to flexible Agency mortgage capital in communities where it is needed most, with the goal of expanding and preserving affordable and workforce housing. 

We are thrilled to see the expansion of our partners at Housing Trust Group, LLC! Last month, the Florida-based developer broke ground on Crescent Place, its first affordable housing community in Illinois in the Arlington Heights neighborhood.

With nearly 30 years of banking experience and a partnership history with NEF, Arroyo joins the trusted Board of Directors to help bring affordable and supportive housing to the nation.

“The clear entry into talking about ESG to potential LIHTC investors is that housing is foundational to all sorts of social opportunities for families and individuals.”

We were thrilled to be a part of last week’s grand opening of The Brigadier General Hazel Johnson Brown Veterans Center at Help Philadelphia VI....

Congratulations to our partners at Community Development Partners, NAYA Family Center and Confederated Tribes of Siletz Indians Human Resources on the grand opening of Mamook Tokatee! Last week, NEF joined...

NEF is thrilled to have been a part of the groundbreaking of Placita Dolores Huerta, a new 110-unit affordable housing development for working families in...

We are extremely honored to be named one of Chicago’s 2022 Best and Brightest Companies to Work For®, which recognizes organizations committed to excellence in...

NEF partner, West Side Federation for Senior and Supportive Housing, received an AIA New York State Excelsior Merit Award, which honors excellence in practice and advocacy of...

NEF partner, Gorman & Company is working to revitalize communities through innovative housing developments. On March 29, Gorman celebrated the groundbreaking for Crosswinds at Arista, a...

With respect to our past and an eye to the future, we present our new look. And I’m so pleased to share that as of yesterday, National Equity Fund has officially been in business for 35 YEARS! Happy Anniversary!!

NEF partner Bridge Meadows recently celebrated the grand opening of Bridge Meadows Redmond, a 36-unit new construction affordable housing community in…

In 2021, NEF had its strongest performance throughout its 35-year history, raising and deploying a record-breaking $2.2 billion in affordable housing investments, which included a record $1.23 billion in LIHTC...

MARTA ANNOUNCES FIRST TRANSACTION OF GREATER ATLANTA TRANSIT-ORIENTED AFFORDABLE HOUSING PRESERVATION FUND NEAR WEST END STATION Fund Supports Preserving and Extending Long-Term Housing Affordability ATLANTA...

Our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them...

NEF partner Bridge Meadows recently celebrated the grand opening of Bridge Meadows Redmond, a 36-unit new construction affordable housing community in…

National Equity Fund Closes $85 Million in Committed Capital for its Emerging Minority Developer Fund (EMDF) to Stand up to Racism and Empower Emerging BIPOC...

National Equity Fund closes $85 million in committed capital for its Emerging Minority Developer Fund (EMDF) to stand up to racism and empower emerging BIPOC low-income housing tax credit (LIHTC) developers

Download the press release. On October 14, developer Pacific Crest Affordable Housing (PCAH) celebrated a joint grand opening and groundbreaking for phases I and II...

Last week National Equity Fund partner, Full Circle Communities (FCC), celebrated the groundbreaking of their new affordable development Torrence Place, a new construction three-story, 48-unit...

Florence Mills Apartments (FMA) continues to receive recognition for its innovative and vibrant design. A finalist of Affordable Housing Finance’s Reader’s Choice Awards in the...

On September 30, NEF syndicated development Harrison Circle had its ribbon cutting ceremony. Located in Kalamazoo’s River’s Edge District, the property was co-developed by NoMi...

Congratulations to Fifth Ward Community Redevelopment Corporation (FWCRC) on last Friday’s (September 27th) groundbreaking of St. Elizabeth Place Apartments in the Fifth Ward district of...

NEF syndicated developments Hope Manor Village and Milwaukee Soldiers Home have been declared winners of Affordable Housing Finance’s (AHF) Reader’s Choice awards! Milwaukee Soldiers Home...

The Alexander Company’s Milwaukee Soldiers Home has been officially recognized as a 2021 recipient of the Charles L. Edson Tax Credit Excellence Award in the...

Last week, developer Concern for Independent Living, Inc. (Concern) celebrated the ribbon cutting for Liberty Station! The NEF syndicated development consists of six two-story residential...

Three NEF syndicated developments have been recognized by the Philadelphia Association of Community Development Corporations (PACDC) as part of their Blue Ribbon Awards. Community Venture’s...

On September 16th, developer The Resurrection Project (TRP) celebrated the groundbreaking of NEF-syndicated Casa Durango. The 53-unit new construction affordable housing development will be located...

National Church Residences’ affordable development True Light Haven has opened! The grand opening ceremony was attended by prominent city leaders including city of Atlanta Mayor...

NEF partner Housing Hope has broken ground on Twin Lakes Landing II! The development is a new 60-unit, four-building, garden-style affordable housing community in Marysville,...

National Equity Fund has been named as one of Chicago’s 2021 Best and Brightest Companies to Work For®. The Best and Brightest award identifies and...

On August 26th, Housing Opportunity Development Corporation (HODC) held a ribbon cutting event to celebrate the opening of Cleland Place in Wilmette, Illinois. The development...

National Equity Fund partnered with Silicon Valley Bank to commit $110,000,000 for affordable housing in Los Angeles and the Bay Area. Leveraging an innovative and deliberate use of Opportunity...

On August 23 various community leaders gathered to celebrate the groundbreaking of PATH Ventures’ Villas at Fourth Street. This permanent supportive housing development will provide homes...

NEF syndicated 5150 Northwest Highway is set to complete construction by the end of this summer or early autumn, despite local resistance and numerous delays,...

National Equity Fund partner New Hope Housing (NHH) has been recognized as a winner of the 2021 Urban Land Institute (ULI) Americas Awards for Excellence....