Affordable Housing
The Affordable Housing Group (AHG) of Colliers specializes in assisting Sellers and Buyers in the acquisition and disposition of their Section 42 Low Income Housing Tax Credit (LIHTC), Senior Housing and Affordable Housing assets throughout the United States. The AHG is comprised of a group of top multifamily advisors and recognized experts whose clients benefit from a strong national presence, aggressive marketing capabilities, and unparalleled market knowledge.
Affordable and senior housing are particularly hot products in today’s market because they are viewed as recession resistant investments with favorable supply/demand ratios. On a weekly basis we are seeing new funds created targeting affordable housing thanks to changing demographic trends, government subsidies, and the secure nature of this asset class. Our team was formed to help buyers and sellers navigate this changing market to their best advantage.
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Fair Market Analysis: With our broad experience, market research and underwriting capabilities we are able to determine a realistic sales price when evaluating low income housing tax credits (LIHTC) and affordable housing assets. Access To Capital: The AHG has compiled an extensive database of Institutions, Private Investors, Pension Funds, Foreign Investors and REIT’s that we are communicating with on a consistent basis. Through a comprehensive marketing campaign focused on mass exposure of the asset, we encourage multiple offers and allow the market to determine the maximum value for your property. Industry Leading Experience: The AHG’s specialized team of advisors has in depth understanding and knowledge of the rules, regulations, policies and procedures of HUD, Section 42 tax credits and affordable housing programs. We have extensive experience in assisting clients with HUD, The Housing Authority, Expiring and Renewing HAP Contracts, and Obtaining Bond Financing, Market Rate Conversion, Expired LIHTC, General Partner, Interest Sale, Foreclosure, Rents Below Max Allowable, Rents Against Max Allowable, Underperforming/Vacancy/Rehab, and Contract Renewals. |
Affordable Housing Team
Kitty Wallace
Executive Vice President
(213)532-3228
HUD
National Low Income Housing Coalition
Neighborhood Stabilization Program Grants - Community Development - CPD - HUD
http://www.nahro.org/home/resource/credit.html
Low Income Housing Tax Credit – HUD
http://www.hud.gov/offices/fheo/lihtcmou.cfm
Bond Financing Basics for Housing and Redevelopment Authorities
http://www.nahro.org/home/resource/bonds.html
Below are a number of links to recent LIHTC issues and legislation/stimulus proposals:
http://www.mhp.net/uploads/resources/mhp_recap_lihtc.pdf
Recommendations to states on using their 2009 and tax credit affordability resources - from RECAP Advisors
http://www.novoco.com/low_income_housing/
Breaking News as of 1- 23 - 09 that Senate Economic Recovery introduced without LIHTC provisions
http://www.novoco.com/low_income_housing/resource_files/hot_topics/recovery/ahtcc_stimulus_letter_011509.pdf
Letter dated 1/15/09 to Congress for including in stimulus bill - Proposals for Supporting and Re-invigorating the LIHTC program
http://www.taxcreditcoalition.org/features/164
Summary of the stimulus bill and the lack of support for LIHTC
http://seniorhousingnews.com/2008/12/29/will-tax-credit-drought-end-in-2009/
Prediction that, for the tax credit program, a government "bailout" or restructuring is most likely in the program's future.
http://www.ny.gov/governor/press/press_1229081.html
NY Governor Patterson's proposal to President Elect Obama for an economic recovery agenda for which includes tax credit proposals because of stalled projects.