News Room
Welcome to the NEF, Inc. News Room, your source for the latest information about what we are doing in the afforable housing market.
LISC Receives $80 Million NMTC Award
The U.S. Treasury Department has awarded Local Initiatives Support Corporation (LISC) $80 million in New Markets Tax Credit (NMTC) investment authority in the 2008 round of allocations. That brings LISC’s total allocation since 2003 to $508 million. Read more.
CRA Not to Blame for Economic Crisis
Michael Rubinger, LISC President & CEO, speaks out against critics of the Community Reinvestment Act and its impact the country's current economic status. Read more.
Foreclosure Rates Comparable Across Incomes
LISC analysis shows crisis not driven by low-income borrowers, but by subprime mortgage products. Subprime borrowers in more prosperous communities defaulted at nearly the same rate by March 2008 as those in impoverished areas. Read more.
Parkview Terrace: 2008 AHF Reader's Choice Award Winner
Each year AFFORDABLE HOUSING
FINANCE searches for the best affordable housing projects in the nation in several categories. AHF readers have selected Parkview Terrace as a winner in the Senior Housing category.
All winners will be published in the November 2008 issue and will also be presented with awards at AHF Live: The Tax Credit Developers’ Summit, Nov. 7, 2008, in Chicago. Read more about the 2008 AHF Reader's Choice Award winners.
A collaboration between Chinatown CDC and AF Evans, the $18 million Parkview Terrace (above) is an 101-unit showcase project for very low-income seniors in the Cathedral Hill neighborhood of San Francisco.
Parkview Terrace was recently featured in the ARCHITECTURAL RECORD, a trade magazine featuring design ideas and trends, building science, and more. Read article.
NEF Project Highlighted at Democratic National Convention
The Aromor, a Mercy Housing Colorado rehab project in Denver, was recently acquired 
from the Denver Housing Authority
as part of Denver’s Road Home, the Mayor's 10-Year Plan to End Homelessness. Mercy will
rehabilitate the historic hotel into permanent supportive housing for 66 formerly homeless individuals. Read more.
The project was highlighted during the DNC by artist Krzysztof Wodiczko who created a "projection art” performance that gives a voice and a face to the struggle of homeless veterans and their families today.
NEF Equity Finances "Green" Supportive Housing Development
The $19 million Verne Barry Place offers permanent supportive housing to homeless and disabled residents, including veterans, in and around Grand Rapids, Mich. This renovation-and-new construction project preserves three existing historic structures and links them with a newly built LEED- certified “green” building.
Housing Stimulus Package to Stabilize Neighborhoods
The Housing and Economic Recovery Act of 2008 will help attract new capital to affordable housing developments that address the needs of low-income renters and homeowners.
Read the press release on the LISC/NEF reaction to the legislation.
Get more details on how the new law will impact the LIHTC market.
