National Equity Fund

Connecting people. 
            Providing solutions.
                          Investing in brighter futures.


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Mission & Vision

National Equity Fund’s mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.

We envision a society where increased access to affordable housing empowers every individual and family to reach their full potential.

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Differentiators

  • One of the largest Non-profit Tax Syndicators committed to expanding, diversifying and preserving affordable housing for the long term
  • Mission-driven experts in Low-Income Housing Tax Credits since 1987
  • Pioneers in Supportive Housing with three decades of demonstrated impact
  • Innovators in finding new ways to deepen and broaden the creation and preservation of affordable housing with expertise in preservation lending, workforce housing and pre-development lending
  • Industry leaders in combining Opportunity Zone credits with LIHTC
  • Cultivators of long-term partner relationships and award-winning projects in urban, suburban and rural areas
NEF ADS

Innovative & Collaborative Solutions

Low-Income Housing Tax Credits (LIHTC)

Enacted in 1986, the federal low-income housing tax credit (LIHTC) was created to advance the production and preservation of affordable housing. Each state allocates LIHTC to qualified affordable housing developers who then sell them to an investor, or to a tax-credit syndication fund made up of equity from one or from many investors. In return, the investors receive a credit against their federal income tax based on the size of their investments.

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Predevelopment Loans

NEF’s pre-development lending team provides critical early financing to assist our partners in developing affordable housing. Targeted pre-development funds cover a variety of development expenses, from professional fees to acquisition, including the costs of tasks that need to be completed before construction closing.

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Workforce / Moderate Income Rental Housing

NEF offers specialized financing solutions targeted to working individuals and families in the "missing middle" who are not income-eligible for LIHTC properties but struggle to find affordable housing options in neighborhoods close to job opportunities.  

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Preservation Lending

NEF's experienced Preservation Lending team provides financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase.

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Supportive Housing

NEF has been a pioneer in permanent supportive housing since the very first days of LIHTC. Our supportive housing leaders are advocates for the most vulnerable individuals and families, experts in the planning and operation that goes into these developments and knowledgeable about government programs and policies that can help families and individuals to thrive.

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NEF in the News

Stone Bridges
July 16, 2025

311 Units of Affordable Mixed Use Housing Officially Open in Goodlettsville, Tennessee

Last month, we joined Holladay Ventures as well as our investors, community members and state and local officials to celebrate the opening of Stone Bridge Lofts in Goodlettsville, TN.

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Zion Woods
July 15, 2025

25 Safe, Affordable Homes Created in Deerfield, IL

We share the sentiments of Jenny, a new resident of the Zion Woods Apartments, who celebrated the opening of this new affordable housing development in Deerfield, IL.

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Old First House (1)
July 11, 2025

Philadelphia Welcomes 34 Units of Permanent Supportive Housing

A few weeks ago, the NEF team joined our partners at Community Ventures, Inc. to celebrate the ribbon-cutting for Old First House in the Old City neighborhood of Philadelphia!

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July 08, 2025

Cape View Way Brings 42 Units of Affordable Housing to Bourne, MA

Last month, NEF's Tony Lyons attended the ribbon-cutting of Cape View Way, a new affordable housing development in Bourne, MA!

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July 17, 2025

NEF Partner Todd Cottle of C&C Development Co. featured in AHF Magazine

In case you missed it, one of our long-time partners and affordable housing industry veteran Todd Cottle of C&C Development Co. sat down with Affordable Housing Finance Magazine to reflect on a meaningful development, Serrano Woods, which NEF helped finance.

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2025 CNDA WINNERS (1)
June 30, 2025

Two NEF Developments & Developers Honored at the Chicago Neighborhood Development Awards Ceremony

Last Thursday, NEF celebrated the 31st Annual Chicago Neighborhood Development Awards Ceremony with two of our projects and partners taking home well-deserved awards!

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Freedom Village At Historic Roebling
June 27, 2025

Former Steel Town Reinvigorated with 72 Units of Supportive, Affordable Housing in New Jersey

Roebling, a small town in New Jersey originally built for the workers of a steel plant more than a century ago, has survived major changes including the shutdown of the plant in the 1970s and the subsequent multimillion dollar toxic waste cleanup. Today, this historic hamlet has become a tourist attraction with a museum where the steel plant used to be and has 72 units of newly built supportive and affordable housing.

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June 25, 2025

Mosaic Apartments Provides Accessible, Supportive & Affordable Housing Schenectady, NY

Recently, our partners at DePaul joined state and local officials for an open house celebration of the Mosaic Apartments in Schenectady, New York. The Mosaic Apartments offer 60 affordable housing units with 30 units providing permanent supportive housing to individuals experiencing homelessness as well as adults with mental illness. 

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June 18, 2025

Patsy Surh Place Honors Community Leader Patsy Surh by Offering 77 Units of Affordable Senior Housing

A few weeks ago, our partners at the Asia Pacific Cultural Center, the Low Income Housing Institute (LIHI), and local officials celebrated the opening of Patsy Surh Place in Tacoma’s Lincoln District in Washington.

Patsy Surh Place, named after community leader Patsy Surh O’Connell, creator of the Korean American Artists Association of Washington State, will provide affordable housing to seniors earning up to 30% and 50% of the Area Median Income...

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May 30, 2025

The Rise Opens its Doors to Criminal-Justice Involved Women & Expands Affordable Housing in Brooklyn

A couple weeks ago, NEF’s Emily Chen and Tony Lyons attended the ribbon cutting of The Rise in Brownsville, Brooklyn. Developed by Xenolith Partners in collaboration with the Women's Prison Association and the Brownsville Partnership, The Rise is a 72-unit mixed use affordable housing development that also offers permanent supportive housing for formerly incarcerated individuals and their families.

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