Kensington-Village-Affordable Housing-Winston-Salem-North-Carolina

142-Unit Affordable Housing property sold in Winston-Salem, North Carolina

We are pleased to announce the sale of Kensington Village Apartments, a 142-unit multifamily apartment property in Winston-Salem, North Carolina.  The well-maintained, stabilized property was originally built in the 1970’s and completely renovated in 2009. The prior renovation was financed by various sources including a HUD Grant. The HUD Grant was accompanied by multiple affordable housing deed restrictions including limits on tenant income and rent maximums. The brokers deployed a targeted marketing effort to identify and engage [...]

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Sneedville, Tennessee - Project-based Section 8 - LIHTC - Sold

Tennessee Project-based Section 8 property sold to LIHTC Developer

In August 2018, AHIB completed the sale of a 51-unit project-based Section 8 contract property located in Sneedville, Tennessee. The family property is fully-covered by the HAP Contract and went through the HUD Mark-to-Market restructuring in 2003. The property is made of 24 one-bedroom units, 21 two-bedroom units and 6 three-bedroom units. The buyer was a regional LIHTC developer who received an allocation of 9% Low Income Housing Tax Credits from the Tennessee Housing Development Agency [...]

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360-Unit LIHTC Property Sale near Atlanta, GA

In February 2018, Affordable Housing Investment Brokerage, Inc. (“AHIB”) closed on the sale of The Park at Hairston, a 360 Unit LIHTC property in Stone Mountain, Georgia.  Stone Mountain is a near suburb of Atlanta located about 20 miles northeast of Downtown Atlanta. The property was originally built as a market rate property in the late 1980’s.  In 2006/2007 the property was went through a full rehabilitation financed by equity generated from an allocation of 4% LIHTC’s and Georgia state [...]

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Low income housing – LIHTC post-rehab real estate tax assessments

The low income housing industry has many current challenges including uncertainty with corporate tax reform affecting low income housing tax credit equity pricing, increasing competitiveness for soft loans and rising labor & material costs.  Another more subtle challenge relates to real estate tax assessments for low income housing properties renovated with LIHTC’s. Many real estate investors and professionals expect a local real estate tax assessor to revisit a property’s market or assessed value post-sale, especially if the property’s sale price [...]

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AHF LIVE: Trump’s Impact on Project-based Section 8 (HAP) and Low Income Housing Tax Credit (LIHTC) Sales

With the 2016 Presidential Election in the rearview mirror, it is time to look forward to how the Trump Administration will affect the Section 8 (HAP) and Low Income Housing Tax Credit (LIHTC) programs.  This was the primary focus of the AFH Live 2016 conference in Chicago with many industry leaders sharing their insights and perspectives on the topic. We know with certainty that Donald J. Trump will be our next President.  There is uncertainty to his agenda and views [...]

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Sunday NY Times on Affordable Housing Development

In Sunday’s New York Times, the editorial board published an editorial on the far-reaching benefits of affordable housing development.  In the piece, titled “Ending the Cycle of Racial Isolation,” the board references a study on an affordable housing development in Mount Laurel, New Jersey, that was chronicled in Douglas Massey’s book, “Climbing Mount Laurel,” about a development completed over fifteen years ago.  In addition to important benefits to the residents, in the area surrounding the development, “crime did not [...]

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Show Me a Hero

One of my favorite parts of this job is the fascinating people I meet in the affordable housing industry. As a broker I need to be constantly working to understand as much of the market place as possible, and this means meeting with and talking as many owners, developers, managers and specialized vendors as possible. Most of these folks are entrepreneurs who need to apply high levels of creativity to their business. This fact is true [...]

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