Affordable Housing Opportunity

My post today is from lovely Las Vegas where I am stationed for the National Apartment Association Annual Conference at Mandalay Bay.

On my way out I was reading some interesting material in the latest issue of Affordable Housing Finance that is worth keeping an eye on. Especially if you are a service provider who is not as familiar with tax credit projects.

Many Low Income Housing Tax Credit projects are approaching the end of their 15-year compliance period where the IRS no longer monitors the property's status. Owners and investors are therefore presented with a unique opportunity to re-evaluate a go forward strategy.

The link to our website is not available quite yet but there are 2 articles of interest that I will activate once we have it posted.

1. A LIHTC Condo Conversion - a rental project goes condo and stays affordable.

2. CAPREIT (a market-rate owner) now taking positions in LIHTC Projects coming off 15 year compliance periods.

According to Martin Bershtein, of CAPREIT, "Getting into the affordable housing business provides a new opportunity to acquire and manage properties."

It seems like service providers looking for growth opportunities might find some opportunities here as well.

Learn more about the market by viewing some back issues of the affordable housing market bible, Affordable Housing Finance.