News

Our final Affordable Housing Finance (AHF) Readers’ Choice Award winner is Lucille and Bruce Terwilliger Place. This Arlington-based development took the top prize in the Urban category and is comprised of 160 units of affordable housing with a 50 percent Veteran preference.

Another affordable housing development recently awarded for its excellence at the Affordable Housing Finance (AHF) Magazine's Readers' Choice Awards was the Lennox House in the Preservation category.

In 1951, Lennox House opened as a 110-room hotel in Grand Prairie, Texas and shut its doors in 1985.

We are excited to share more love and appreciation for our friends at Full Circle Communities, Inc and the Ruth Ellis Center for their big win a couple weeks ago at AHF Live! Congratulations on winning the Readers’ Choice Award in the Permanent Supportive Housing category for the Ruth Ellis Clairmount Center.

Earlier this month, our partner Lincoln Avenue Communities (LAC) broke ground on Pinyon Apartments, which will bring 252 units of affordable housing for lower-income families to Reno, NV. Pinyon Apartments will restrict 244 units for households earning no more than 60% of the area median income (AMI) and 8 units to less than 50% AMI.

Congratulations to our partners at Over-the-Rhine Community Housing and Urban Sites on the groundbreaking for Vandalia Point in the Northside neighborhood of Cincinnati!

Vandalia Point will provide 52 units of affordable housing for low-income households earning 30-60% of the area median income (AMI) in the neighborhood that has seen the most significant increase in housing costs in the entire city. 

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closings on the sixth and seventh deals of the fund: Cycle House and Courtlandt Manor.

A few weeks ago, we celebrated the grand opening of Salem Village in Columbus, Ohio with our partners at National Church Residences! This 76-unit affordable housing development is dedicated to seniors ages 62 and older and is an ideal space for independent living.

Congratulations to our president and CEO, Matt Reilein, on his recognition as one of the 2024 Chicago Titan 100 honorees. The Titan 100 program recognizes Chicago’s Top 100 CEO’s & C-level executives that "embody the true diversity of the Chicago business landscape."

Happy Veteran's Day!
 
For years, NEF has worked to support Veterans through our “Bring Them Homes” initiative, which provides Veterans of the U.S. military with high-quality affordable housing. Over the past decade, NEF has invested more than $1 Billion in 84 projects that provide a Veterans preference, alongside over $9 million of grant funding to assist with pre-development and system change work to expedite projects, resulting in nearly 13,000 units of affordable housing, including 7,500 units targeting Veterans and Veteran families.

We want to give recognition to another award-winning development! 

Congratulations to our friends and at Community Development Partners (CDP) and Native American Youth and Family Center (NAYA) on winning the Charles L. Edson Tax Credit Excellence Award (Edson Awards) in the Housing for Native Americans or Tribal Populations category.

Onto our second of three award winning developments: The Ruth Ellis Clairmount Center in Detroit! This affordable housing and permanent supportive housing development was awarded the 2023 Charles L. Edson Award Winner in the Housing for Special Populations category by the Affordable Housing Tax Credit Coalition.

We are honored to share that three of NEF's affordable housing developments were awarded at the 2023 Charles L. Edson Tax Credit Excellence Awards ceremony in Washington D.C. last week!

Our first 2023 Charles L. Edson Award winner is Hilltop View Apartments in the Housing for Veterans of the Armed Services category.

Our partners New Hope Housing, Inc. (NHH) broke ground on their first affordable community for seniors, and we couldn't be more excited!

Located in Houston, New Hope Housing Gray will offer 135 affordable housing units to seniors with low incomes as well as a Bezos Academy location on-site, which will provide a Montessori-inspired preschool free of charge to tenants.

An incredible day for our partners at New Hope Housing, Inc. (NHH)! NEF is thankful for NHH's partnership and honored to play a role in the groundbreaking of their 12th affordable housing development.

Earlier this month, our colleague Debbie Burkart was interviewed for a thoughtful video that discussed the importance and critical need of affordable housing and permanent supportive housing in the Los Angeles area.

We are excited to share the fantastic news that our friends at Community Development Partners, NAYA Family Center, and Northwest Housing Alternatives have won Golden Hammer Awards in the Best New Multifamily Project category.

The procurement of the mountain region entity brings 49 new LIHTC projects to the NEF portfolio. CHICAGO, Oct. 25, 2023 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit multi-family, affordable, real estate investment manager has expanded its reach in the west with the acquisition of the assets of Mountain Plains Equity Group, Inc. (MPEG), including the ownership of MPEG Acceptance Corporation (Acceptance Corp.). 

Our partners at New Hope Housing, Inc. (NHH) held the ribbon cutting ceremony for their newest supportive housing development in Houston: New Hope Housing Savoy!

A frequent collaborator of NEF’s, New Hope Housing approaches affordable housing and permanent supportive housing with a mission to help residents stabilize and advance their lives, creating a path to positive generational impact.

Congratulations to our partners at Abbey Road and Linc Housing on the grand opening of Sun Commons in North Hollywood, LA! This affordable housing development is adjacent to Penny Lane Centers, the nonprofit that provides supportive services at Sun Commons as well as 6,000 children, youth, and families.

NEF is delighted to announce that Lisa Deller, VP Asset Management, has been named the new President of the Board of Directors for CHAM - Consortium for Housing and Asset Management for Housing and Asset Management!

NEF is proud to work with innovative developers like our partners at New Hope Housing (NHH) and DWR Development Group, LLC on affordable housing initiatives that improve lives beyond providing homes.

Witnessing the opening of Bezos Academy at NHH at Reed in Houston, a "free, Montessori-style preschool," and the anticipation of building DWR's OST Lofts, which will also have "a prekindergarten program operated by the Tejano Center for Community Concerns," is not only a demonstration of going above and beyond in community and resident services, but also a revolutionary offering in supportive housing in terms of education.

"NEF's investment in developments like Bertha Pitts Campbell Place not only aligns with our mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing, but it also reflects our efforts to ensure that our team has the experience and knowledge to effectively support the diverse individuals, families, and communities we serve."

The Emerging Minority Developer Fund (EMDF) "helps address the biggest LIHTC barrier minority developers face—guidelines that require $1 million of liquidity and $5 million in net worth,” Lydia Smith explains in "$147 Million Emerging Minority Developer Fund Broadens LIHTC Access" in Affordable Housing Finance.

The NEF team is proud to support and celebrate with our partners at Englewood Community Development Corporation and Noble on the grand opening of The Passage Apartments in Indianapolis! The Passage provides 39 affordable housing units with one floor set aside for short-term rentals, eight apartments for residents with disabilities and their families, and the remaining units reserved for households earning no more than 60% of the area median income (AMI). 

Congratulations to our partners at KINGSLEY + CO. and Serving Older Adults Through Changing Times (SO-ACT) on the groundbreaking of Victory Vistas! Soon, 50 units of affordable housing for seniors will be available in the Paddock Hills Community of Cincinnati.

NEF's Daryl Shore, Head of Structured Finance, will speak on the Neighborhood Housing panel (Session 6B) at the inaugural Diverse Developers Conference on Thursday, October 12 in Chicago! The session will discuss ways to preserve naturally occurring affordable housing (NOAH). 

NEF is thrilled to celebrate the groundbreaking of the Fischer Senior Apartments, the latest affordable housing development from our partners at WSFSSH, Inc.

Located in the Highbridge neighborhood of The Bronx, The Fischer Apartments will bring 105 homes for seniors 55+, including 54 units for formerly homeless seniors

Congratulations to our partners at Full Circle Communities, Inc on the groundbreaking of Raymond E. Shepherd Housing in Ferndale, MI! This development is a direct response to the needs of the community, specifically its notable LGBTQ+ and elderly populations in need of affordable housing.

Congratulations to our partners at Women Organizing Resources Knowledge and Services (W.O.R.K.S) and GTM Holdings, LLC on the ribbon cutting of the Depot at Hyde Park in southeast LA! The event was well-attended by city officials, including Mayor Bass and Councilman Harris-Dawson, and community members.

Congratulations to our partners Magnusson Architecture and Planning, Xenolith Partners, Women's Prison Association and Home (WPA), and Brownsville Partnership on The Rise being recognized as a NYSERDA Buildings of Excellence and Blue Ribbon for Design Excellence award winner!

The NEF team is proud to support our partners at the Women's Development Corporation and RIHousing on the ribbon cutting for the Pine View Apartments in Exeter, Rhode Island.

Pine View Apartment offers 40 units of affordable housing to a semi-rural community about 25 miles outside of Providence.

Congratulations to our partners at Amsterdam Housing Authority and 3d Development Group LLC on the ribbon cutting ceremony of the New Amsterdam Apartments in Amsterdam, NY. It was an honor to have Governor Kathy Hochul and Mayor Mike Cinquanti speak at this event along with NEF's very own Emily Chen, other stakeholders, and community members. The substantially renovated New Amsterdam Apartments offers 116 units of affordable housing for seniors aged 55+ earning at or below 80% of the area median income (AMI).

The NEF team is proud to support our partners at Evergreen Real Estate Group who recently held the groundbreaking of Encuentro Square. Soon, 89 new affordable housing units will be available for those who need it most in a development that unites the Logan Square, Humboldt Park and Hermosa neighborhoods of Chicago.

Congratulations to our partners at Full Circle Communities, Inc (FCC) on 5150 Northwest Highway being awarded Outstanding Affordable Project in the 15th Annual LEED Homes Awards by the U.S. Green Building Council (USGBC).

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closings on the fourth and fifth deals of the fund:

• Victory Vistas, a 50-unit affordable housing development for seniors (55+) in Cincinnati, OH with sponsor Kingsley + Co.
• New Life Housing, a 60-unit affordable housing development in Tacoma, WA with sponsor Shiloh Baptist Church.

We are thrilled to announce that NEF has invested in six affordable housing developments recognized as Affordable Housing Finance (AHF)'s 2023 Readers' Choice Awards Finalists in four separate categories. These outstanding developments were selected along with 30 others across 18 states out of 145 total entries for their dedication to creating and preserving stable, safe, affordable, and supportive housing for a variety of populations.

Our very own Emily Chen was thrilled to join our partners at Project Freedom, Inc. and the New Jersey Housing and Mortgage Finance Agency (NJHMFA) at the ribbon-cutting of Freedom Village at Hamilton Woods in Hamilton (Mercer County), New Jersey!

This incredible affordable housing and supportive housing development prioritizes inclusivity through accessibility for individuals with disabilities.

Congratulations to our partners at Pennrose, the I-195 Redevelopment Commission and the City of Providence, on the groundbreaking of Parcel 9 Phase 1 in the Fox Point neighborhood! This development marks Pennrose's first in Rhode Island and will help transform the area with a new mixed use, mixed income space for individuals and families.

Congratulations to our partners at BRIDGE Housing Corporation and HomeRise (formerly Community Housing Partnership) on winning the 2023 Urban Land Institute (ULI) Americas Awards for Excellence in the Small-Scale Development category for their development HomeRise at Mission Bay! This affordable housing project and the other winners "represent the highest standards of achievement in the land use profession and encompass a wide range of land uses, sizes, investments, and geographic locations."

Congratulations to our partners Lawrence CommunityWorks, Inc. on the ribbon cutting for the Armand Michael Hyatt Apartments in Lawrence, MA. Formerly known as the Island Parkside Phase 1, this development brings 40 units of affordable housing to the Mill District neighborhood.

Congratulations to our partners New Hope Housing on Avenue J being named Tax Credit/Affordable Property of the Year by the Houston Apartment Association! With 100 units of affordable housing for families and individuals, Avenue J is a much needed and welcome addition to Houston's Second Ward neighborhood. 

Thank you to our friends at the Multifamily Impact Council for highlighting the National Multifamily Housing Council feature of NEF's Emerging Minority Developers Fund (EMDF) in a case study that focuses on housing equity. The EMDF was created to help build access to capital for affordable housing developers of color.

“We are proud to work with partners like BRIDGE Housing and Morgan Stanley who share our belief that preserving affordable housing is just as important as creating new homes, especially in markets like San Francisco where the cost of housing continues to rise,” said Matthew Reilein, president and CEO of National Equity Fund.

Congratulations to our partners at Genesis Companies, LLC, The Metro Company, LLC and East Orange Housing Authority (EOHA) on the grand opening of the Ted R. Green Senior Residences in East Orange, NJ! Named after East Orange Mayor Ted R. Green, this incredible new affordable housing development brings 60 high-quality homes to seniors in the area.

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of La Vista Lopez, a 27-unit affordable housing development in Austin, TX with sponsor Guadalupe Neighborhood Development Corporation (GNDC).

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of La Vista Lopez, a 27-unit affordable housing development in Austin, TX with sponsor Guadalupe Neighborhood Development Corporation (GNDC).

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of Bronzeville Scattered Site, a 25-unit affordable housing development in Milwaukee, WI with sponsors Maures Development Group LLC and Scott Crawford Inc.

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of Bronzeville Scattered Site, a 25-unit affordable housing development in Milwaukee, WI with sponsors Maures Development Group LLC and Scott Crawford Inc.

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of Plymouth Avenue Apartments, a 63-unit affordable housing development in Minneapolis with sponsor Matrix Development LLC.

Congratulations to our partners at The Core Companies and The Veterans Collective on the groundbreaking at MacArthur Field on the West Lost Angeles VA North Campus! NEF is proud to have invested along with U.S. Bank in this exciting new affordable housing development. MacArthur Field (Phase A) will offer 74 homes to homeless or at-risk Veterans with special needs earning at or below 30 and 50 percent of the Area Median Income (AMI) plus one manager's unit.

Congratulations to our partners at Gaudenzia, Inc. on the opening of West Mill Place in Philadelphia! This affordable housing complex will not only meet the needs of the community for low-income families but also provide a safe haven for people in recovery from substance abuse. West Mill Place offers 30 units in the Mill Creek section of West Philadelphia where drug use has been historically rampant.

The 2023 Chicago Neighborhood Development Awards (CNDA) was a night to cherish and remember! We offer our congratulations to Landon Bone Baker Architects Ltd. on winning second place in the Richard H. Driehaus Foundation Award for Architectural Excellence in Community Design for the Lucy Gonzalez Parsons Apartments in Logan Square!

Congratulations to our partners at Full Circle Communities (FCC) on winning the 2023 Richard H. Driehaus Foundation Award for Non-Profit Real Estate Development Award at the Chicago Neighborhood Development Awards for 5150 Northwest Highway Apartments in Jefferson Park!

The 5150 Northwest Highway Apartments in Jefferson Park is a new construction affordable housing development by FCC.

Congratulations to our partners at The Neighborhood Developers, Inc (TND) and Causeway Development on the ribbon cutting for 1005 Broadway in Chelsea, MA! It's exciting to see this longtime brownfield site redeveloped as an affordable housing building with new green space and access to the Mill Creek.

1005 Broadway provides 38 affordable homes for families earning below 30% and 60% of the Area Median Income (AMI).

Congratulations to our partners Plymouth Housing and the construction team at W.G. Clark Construction on their Award of Merit from the 2023 Gold Nugget Awards. The award honors architectural design and planning excellence in developments across the country. This year, our partners were recognized for the incredible Bertha Pitts Campbell Place development in the Best Supportive/Transitional Housing category. The Award of Merit Winners are the top vote recipients in each category and are finalists for the Grand Award.

NEF is thrilled to see the positive impact of the holiday celebrations at Bridgeport Manor Senior Housing in Ohio! National Church Residences and the onsite resident service coordinator were able to use the $3,000 grant from NEF Housing Charities to hold multiple activities and celebrations for the residents.

Congratulations to our partners at HACE and the Pennsylvania Housing Finance Agency (PHFA) on the completion of Rafael Porrata-Doria Place in North Philly!

Not only does this affordable housing development bring 30 units reserved for households that are 55 years of age and older or living with intellectual disabilities, it also offers over 2,000 sq. ft. of commercial space to bring small businesses to El Centro de Oro Commercial Corridor.

“It’s tough to compete against developers with deep pockets and are not mission-driven. Affordable housing developers can now confidently consider opportunities knowing they have the financial muscle to execute rapidly, too,” Daryl Shore says in "A Powerful New Equalizer for Affordable Housing Developers" in Affordable Housing Finance.

NEF is proud to offer congratulations to our partners at Jamboree Housing Corporation on their creative solution to substantially rehabilitate a run-down motel into the Ascent apartments in Buena Park, CA! 

The Ascent apartments provides 57 units of affordable housing for people who have recently been unhoused and households earning no more than 50% of the Area Median Income (AMI). Twenty-eight units are reserved for residents with mental health diagnoses.

The NEF team had a wonderful time at the St. Catherine De Vigri Villas dedication ceremony last week! We were thrilled to join our partners at Catholic Charities Housing Services, elected officials and the Tieton community to celebrate this incredible development. NEF's Tony Daguanno, Lisa Decker and Rodney Pruitt attended the event in support.

Congratulations to our partners at RiseBoro Community Partnership on the groundbreaking at Bethany Senior Terraces in Brooklyn! We're excited to witness the development of this modular, Passive House building, which will provide 58 affordable housing units dedicated to low-income seniors. Bethan Senior Terraces will bring stable housing and energy efficiency together for the benefit of the community and city at large.

Our colleagues were honored to celebrate the incredible leaders and award winners at the 13th Annual Leadership Celebration hosted by VOA Illinois last week! These leaders dedicated their time and services to Veterans, people struggling with homelessness, families living in poverty, seniors, and adults with disabilities.

Congratulations to our partners at Resource Center on the groundbreaking of Oak Lawn Place in Dallas!

Resource Center is an organization focused on societal equity, advocacy and transformative education for members of the #LGBTQ+ community and their families. To meet the growing demand for #affordablehousing and care services for an aging LGBTQ+ population, Resource Center worked with Matthews Southwest on the planning and development of Oak Lawn Place, which will bring 84 units of high-quality senior housing to the area.

Congratulations to our partners at the Northern Lights Development (Aurora Housing Authority) and Hope Bound Development Corporation (Housing Authority of Joliet) on the groundbreaking at 1449 Senior Estates in Aurora, IL! This will be the first new subdivision built in Aurora in nearly 50 years — how exciting!

Congratulations to our partners at the Housing Authority of Cook County on the groundbreaking at Otto Veterans Square in Chicago Heights, IL! This will be the first new construction to result from the Downtown/East Side Choice Neighborhoods Plan. Otto Veterans Square will provide 82 apartments to Veterans and households earning 50% or less than the Area Median Income (AMI). All units will receive Project-Based Voucher assistance from the Housing Authority.

Congratulations to our partners at Hawaii Island Community Development Corporation (HICDC) on the groundbreaking at Kaloko Heights in Kailua Kona, HI! This development is expected to be completed in Fall 2024 and will provide 99 units of affordable housing for families in need and one manager's unit. With the costs of living and housing rapidly rising, families on Kona are at risk for displacement and being unhoused.

National Equity Fund announced a new structure for senior leadership roles to further support its mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. Driven by the growth of newer capabilities such as Preservation Debt and Equity and GSE Lending combined with an increasingly complex investor market for Low-Income Housing Tax Credits (LIHTC), NEF president and CEO, Matt Reilein, made the announcement to expand and create new leadership roles with existing employees. This new structure will streamline and optimize how NEF will serve its sponsor and investor clients in support of its mission.

2022 was an exceptional year for NEF, despite having occurred during one of the most complex and challenging macro-economic cycles that many of us have ever seen.  Elevated inflation, interest rate jumps, extended construction delays, continued longstanding economic effects of COVID and more, put pressure on investors, sponsors and the affordable housing industry like never before.

We are excited to announce that, for the third year in a row, NEF has been named one of Chicago’s Best and Brightest Companies to Work For® in 2023! The Best and Brightest award identifies and honors organizations that display a commitment to excellence in their human resource practices and employee enrichment.

Congratulations to our partners at Walla Walla Housing Authority (WWHA) on the grand opening of Evergreen Commons in Walla Walla, WA! Representatives from Banner Bank and NEF's Tony Daguanno attended the event.

This 29-unit development is a 3-story, new-construction property located in the Eastgate neighborhood and consists of 9 one-bedroom and 20 two-bedroom apartments. All units are affordable, targeting households at or below 30-60% AMI and provide permanent supportive housing for individuals and families at risk of homelessness. Additionally, at least 6 units are set aside for persons with chronic mental illness...

Last week, NEF colleagues Kimberly Stephenson and Debbie Burkart attended The Taste of Home Festival in Los Angeles to raise money for our partners at PATH. The festival/fundraiser is an opportunity to help end homelessness while enjoying delicious cuisine, signature cocktails, live music, chef demos, and fun activations. More than 30 local food and beverage vendors attended the event. Since 1984, PATH has been on a mission to end homelessness through affordable and permanent supportive housing that empowers vulnerable populations to grow and thrive.

Last week, our very own Rachel Rhodes joined BuzzHouse: A Baker Tilly US Podcast to chat about the ever-evolving trends in LIHTC, the Inflation Reduction Act, NEF's expanding capabilities and more. This is a great episode for developers and investors looking to learn more about what's buzzing in the industry.

Congratulations to our partners at Full Circle Communities, Inc and Christian Community Health Center (CCHC) on the grand opening of Torrence Place in Lansing, IL!

This new 48-unit affordable housing development provides homes to Veterans and persons with disabilities. Torrence Place also features a 3,600 sq. ft. health clinic operated by CCHC that is dedicated to serving both residents and Lansing community members.

Congratulations to our partners at Alliance Housing, Inc. on the grand opening of 3301 Nicollet Ave in Minneapolis last week! From a vacant commercial storefront that the developer demolished years prior, this building brings sorely needed 64 affordable housing units to the Lyndale neighborhood.

Congratulations to our partners at Excelerate Housing Group and HopeCooperative on breaking ground at Northview Pointe in Sacramento!

The organizations are working together to develop this two-story building with 66 units of affordable and supportive housing for people experiencing chronic homelessness.

Congratulations to our very own Jaclyn Jackson, SVP and Chief Human Resources Officer, on being named one of 100 Women to KNOW Across America in 2023! We are thrilled and immensely proud of Jackie's recognition as one of the "most influential, achieved, and honorable women in our society."

Congratulations to our partners at Mercy Housing Northwest on the ceremonial groundbreaking at Millworks Family Housing in Bellingham, WA! While the project actually broke ground and began construction on Phase I late last year, representatives from the City and Port of Bellingham, Mercy Housing Northwest, Whatcom Community Foundation and other partners gathered at the port’s container village for the occasion.

Congratulations to our partners at Hispanos Unidos de Buffalo (HUB) and Acacia Network on the ribbon-cutting ceremony at La Plaza de Virginia in Buffalo, NY!

La Plaza de Virginia serves low-income seniors ages 55+ with 46 units of affordable housing for households at or below 60% of the area median income (AMI). There are 15 Empire State Supportive Housing Initiative (ESSHI) units reserved for formerly homeless seniors at or below 30% of the AMI. 

Congratulations to our partners at National Church Residences on a few weeks of exciting festivities! National Church Residences celebrated multiple grand reopening events:

1. Lennox House in Grand Prairie, TX,

2. Brandywine Apartments in Richardson, TX,

3. Christian City in Atlanta, GA, which includes Larry Moore Manor, John Sparks Manor and Gene Miller Manor, and

4. Big Bethel Village Apartments in Atlanta, GA, which NEF's own Stacy Woodford attended as our representative.

Congratulations to our partners at Arlington Partnership for Affordable Housing (APAH) on Terwiliger Place winning the 2023 CoStar Impact Award for Multifamily Development of the Year! This unique affordable housing development deserves this outstanding recognition for taking an aging facility with diminishing membership and redeveloping it as supportive housing for Veterans as well as a new, modern American Legion Post 139 facility.

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.

"For people who are blind or visually impaired, finding safe, affordable, accessible housing is more difficult than it ought to be in the United States. We are proud to be part of the solution."

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.

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 low-income housing tax credit (LIHTC) developers...

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...

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.

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....