National Equity Fund, Inc.

In October, our partners at ACTION-Housing, Inc. and Bethlehem Haven were joined by Congresswoman Summer Lee, the Mayor of Pittsburgh, and other local leaders to celebrate breaking ground at the future site of a new #affordablehousing development named Uptown Flats. Replacing a derelict structure in the Uptown neighborhood of Pittsburgh, Uptown Flats will offer 34 units of permanent #supportivehousing as well as safety and stability to formerly homeless women through onsite-wraparound services. New residents will have the benefit of living in a walkable area as well as easy access to public transit like the city's new rapid transit line. Special thanks to BNY for investing in Uptown Flats to help alleviate the critical need for safe, stable, and affordable housing! Learn more at the link below. https://lnkd.in/gafZ-AMg

Congratulations to Church Community Housing Corporation and RIHousing on the groundbreaking for the Ade Bethune House and Portsmouth Senior Center in Portsmouth, Rhode Island. This development will bring 54 units of #affordablehousing for #senior residents 55+. Residents of the Ade Bethune House will share amenities with the Senior Center, including supportive resources, social activities and programming that will assist seniors looking to build community. Read more about this development below: https://lnkd.in/gABA8Js6

A few weeks ago, NEF's Debbie Burkart joined co-developers Affirmative Investments, Inc. and Falmouth Housing Corp in celebrating the grand opening of Scranton Main Apartments in Falmouth, MA.   Scranton Main Apartments provides 48 units of #seniorhousing for low-income residents age 62 and older with incomes less than 30% and 60% of the area median income (AMI). This #affordablehousing development is on the bus line, there are plenty of stores within walking distance, and there is a senior center across the street with programs and services. New residents can enjoy amenities like the reading room, shared laundry room, and a rooftop deck.   We commend our partners on ensuring that a majority of the apartments will be welcoming residents who already live or work in the town in order to allow the seniors to age in place with dignity within their communities and near their families.   Learn more about Scranton Main Apartments in the link below. https://lnkd.in/g7Yar6RD

"Liz Hibbard has a passion for introducing new people to the development of affordable housing. That includes potential investors in federal low-income housing tax credits (LIHTCs) like community banks and health care companies. It also includes her neighbors in the little town of Norwell, Massachusetts, near Boston, where she championed new affordable construction."   We can't contain our excitement for our own Liz Hibbard, who was recognized as one of eight Affordable Housing Finance 2024 Young Leaders on Monday night at the AHF Live award ceremony. These rising stars touch a variety of sectors and represent the next generation of change makers in the #affordablehousing industry!   Read more about Liz's incredible career at the link below. https://lnkd.in/gu4x4jQZ

We are thrilled to announce that Vista Verde is the winner of the 2024 AHF Readers' Choice Award in the Rural Housing category, and was honored at the AHF Live awards ceremony in Chicago last night. Vista Verde also won the 2024 Charles L. Edson Award for Green and Healthy Housing. The town of Breckenridge Colorado accepted the challenge of providing affordable workforce housing while being sustainable and hired Gorman & Company to build Vista Verde. This affordable housing development with 80 units serves households earning between 30%, 50%, 60%, and 100% of the area median income (AMI). Vista Verde is located a few miles north of the resort town's central business district, and has achieved a #netzero designation by installing solar panels, which means the building produces enough energy onsite to offset energy consumption. Congratulations to our partners at Gorman & Company, the Town of Breckenridge, Colorado, and the investors involved in making this outstanding #affordablehousing development possible. Learn more about our award-winning developments at the link below. https://lnkd.in/gPa2U6X4

On November 1, NEF welcomed Ashley Kamionka as one of our Accounts Payable Administrators! Ashley started as a contractor in April and recently transitioned to the full-time role. Welcome to the NEF team, Ashley!

“We bring the entire capital stack to the table... Yes, we vigorously support LIHTC deals. The permanent loan piece means we also support workforce and preservation housing deals, with both short- and long-term financing available,” explained Tom Booher, Managing Director, Head of Agency Lending at National Equity Fund.   Tom's words from the Affordable Housing Finance article "Preservation through Acquisition, Simplified" highlight NEF's capabilities to support our partners' needs across the board when it comes to creating and preserving #affordablehousing.   Read the full article at the link below: https://lnkd.in/gDMM3Zhp

In support of Veterans Day, Affordable Housing Finance featured five developments that are helping reduce the number of #Veterans experiencing homelessness throughout the country. According to data from the U.S. Interagency Council on Homelessness, Department of Housing and Urban Development (HUD) and Department of Veterans Affairs (VA), Veterans homelessness has dropped to its lowest level on record since it first started being reported in 2009. Within the roundup, two NEF developments were spotlighted for their efforts to house and support this often neglected population. Otto Veterans Square, developed by our partners at Housing Authority of Cook County, celebrated its ribbon cutting in September and now provides 82 units of #affordablehousing and permanent #supportivehousing for Veterans in the Chicago Heights area. And today, our partners at The Core Companies and The Veterans Collective celebrated the official opening of MacArthur Field Place A and the topping off of MacArthur Field Place B on the West Lost Angeles VA North Campus. Combined, the buildings will bring 148 new permanent supportive units to formerly homeless or at-risk Veterans with special needs and their families. We are grateful to work with partners who value our Veterans and work diligently to end Veteran homelessness through safe, stable, affordable and supportive housing. Read more about these two outstanding developments below: https://lnkd.in/gtwzex8M

While the #affordablehousing crisis continues to deepen across the country, blind and visually impaired individuals and veterans have a beacon of hope in the form of the newly opened Foglia Residences at The Chicago Lighthouse. The grand opening held at the end of October celebrated this development as the first #LIHTC building in the nation specifically supporting the blind and visually impaired community. Located in the heart of the Illinois Medical district and nearby The Chicago Lighthouse's center, the Foglia Residences provides 76 units of accessible, #supportivehousing, including fully-accessible common areas. NEF is proud to partner with Brinshore Development, LLC and The Chicago Lighthouse on this extraordinary development that empowers visually impaired residents through independent living tailored specifically to their needs at an affordable rate. Special thanks to Danny Gutman for representing NEF at the grand opening and taking the photos below! Learn more about the Foglia Residences at the link below. https://lnkd.in/gZEsuSeD

Check out National Equity Fund experts, David Musial and Brandon McCall, sharing their industry expertise on #LIHTC and dispositions during AHF Live! Be sure to attend these important sessions and visit us at Booth 208 to learn more about these topics as well as the wide scope of NEF's innovative financial solutions within the #affordablehousing industry.