Building Homes, Communities, and Futures

Second Phase of Palm Terrace Celebrates Grand Opening in Lindsay, CA

Congratulations to our partners at Self-Help Enterprises (SHE) on the grand opening of Palm Terrace II in Lindsay, California! The second phase of this affordable housing development offers 54 new units and completes the Palm Terrace rental community, which now provides a grand total of 104 units. With a focus on low-income families, six of the units will be Permanent Supportive Housing (PSH) earning 30 percent of the Area Median Income (AMI).

Lincoln Avenue Capital & The Housing Authority of the City of Alameda Preserve Affordable Homes in Bay Area

Congratulations to our partners at Lincoln Avenue Capital (LAC) and The Housing Authority of the City of Alameda (AHA) on their commitment to preserving up to 132 units of affordable housing at Rica Vista Apartments for the next 55 years! The existing market-rate property will be converted into workforce housing (or moderate income rental housing) in one of the most expensive housing markets in the nation, the Bay Area...

Message from NEF on Bridge Bank for Silicon Valley Bank

We were encouraged to see the latest statement from the FDIC that the newly established Bridge Banks for the closures of Silicon Valley Bank and Signature Bank will be required to meet their contractual obligations, including fulfilling equity investments and construction loans...

Message from Matt Reilein regarding Silicon Valley Bank

National Equity Fund (NEF) is actively monitoring the Silicon Valley Bank (SVB) receivership and broader banking market closely, while we wait for additional guidance from the FDIC. Our experienced team is in active conversations with investors, developers, state agencies and other external stakeholders. And while we recognize that we don’t yet have all the answers, NEF remains in a strong position to help navigate the impact on the affordable housing industry both now and in the future.

Dr. Maya Angelou Village Breaks Ground in Detroit

Congratulations to our partners at Full Circle Communities (FCC) and Alternatives for Girls (AFG) on the successful groundbreaking at Dr. Maya Angelou Village in Detroit! The event was well-attended with Mayor Mike Duggan, city council representatives, and other important community members and stakeholders.

Located in Detroit's Miller Grove neighborhood on a decade-long vacant land, Dr. Maya Angelou Village will provide 45 units of affordable and permanent supportive housing for individuals and families at risk of homelessness. 

Casa Durango Celebrates Ribbon Cutting in Pilsen

We were honored to celebrate with The Resurrection Project (TRP) at their ribbon cutting ceremony of Casa Durango in the Pilsen neighborhood of Chicago last week! The gathering included a multitude of community members, residents, partners, as well as state and local officials.
 
Casa Durango is a 53-unit multi-family rental housing development named after the Mexican State of Durango, where many residents of Pilsen came from.

Trellis Celebrates Grand Opening on First LIHTC Rental Development

Sending our sincerest congratulations to our partners at Trellis on their grand opening of Trellis @ Mission in Phoenix, their first LIHTC affordable housing rental development! After 15 years, this rental property will become available for ownership and low-income renters will have the opportunity to purchase their units. This program encourages community stabilization and allows residents to invest in their property and neighborhood.

Jaclyn Jackson Empowers Women with the Chicago Chapter of How Women Lead

We are excited to share that our very own SVP and Chief Human Resources Officer, Jaclyn Jackson, is a member of the Executive Board of the Chicago Region chapter of How Women Lead! This group of more than 15,000 senior executive women nationwide is working on empowering women, and the Chicago chapter's goal is to reach 10,000 women leaders in the area over the next 5 years. 

NEF Honored in the Wall Street Journal as one of the 2022 Best and Brightest Companies to Work For in the Nation

In case you missed it, the February 15, 2023 issue of The Wall Street Journal listed the Best and Brightest Companies in the Nation and National Equity Fund is one of the honorees! We are thrilled to be recognized by The Best and Brightest Programs as a 2022 National winner. NEF was also named one of Chicago’s 2022 Best and Brightest Companies to Work For®, which recognizes companies committed to excellence in human resources and employee enrichment.

Construction Completed at Bluffs at South Sheridan in Waukegan, IL

Congratulations to our partners at Bear Development and Waukegan Housing Authority on the completion of The Bluffs at South Sheridan (formerly Barwell Manor) in Waukegan, IL! 

Barbara Gualco Retires from an Inspiring Career at Mercy Housing California

Congratulations to our partner Barbara Gualco on her retirement from Mercy Housing California. For 35 years, Barbara worked to expand affordable housing as the Regional Director of Real Estate Development for the Bay Area. In partnership with NEF, Barbara worked to create more than 500 affordable and supportive homes that helped empower Bay Area seniors, people experiencing homelessness and other vulnerable communities.

1064 Mission Street Celebrates Grand Opening in San Francisco

Congratulations to our partners at Episcopal Community Services of San Francisco, Mercy Housing, and all of the organizations and individuals involved in the grand opening of 1064 Mission Street! 1064 Mission Street is San Francisco’s largest and most comprehensive permanent supportive housing (PSH) site. This community provides 256 units of affordable housing to formerly homeless adults and seniors. 

NEF Announces $2.1 Billion in Affordable Housing Investments for 2022, Nearly Matching Record Performance in 2021

Despite continued economic and market headwinds, NEF invested over $1.2 billion in Low-Income Housing Tax Credit (LIHTC) investments and nearly $900 million to preserve existing affordable housing throughout 2022, resulting in nearly 15,500 affordable homes nationwide.

OST Lofts Will Bring More Affordable Housing to Houston Amid Shortage

We are buzzing with anticipation for construction to begin on OST Lofts in Houston! As the city struggles with a shortage of affordable housing, the City Council has approved a loan to the Tejano Center for Community Concerns to build a 130-unit affordable housing development on purchased land. The city was already experiencing a shortage of affordable housing before the devastation of Hurricane Harvey depleted nearly 25 percent of its existing units...

Affordable Housing Community Coming Soon to Madison, WI

Congratulations to our partners at Bear Real Estate Group on last month's closing of The Flats at 402 in Madison, Wisconsin. Because of our partners at Bear Real Estate, and an incredible $12 million in financing from NewPoint Real Estate Capital, some much needed affordable housing will soon be available for individuals and families in the area. Within four blocks of the Wisconsin State Capitol, this affordable housing community will provide 54 homes...

Hayu Tilixam Opens with Ribbon Cutting in Portland, OR

Congratulations to all involved in this month's ribbon cutting of Hayu Tilixam! We are so proud to partner with organizations like Native American Youth and Family Center (NAYA) and Community Development Partners (CDP), who lead the charge in developing this project in Portland's Cully neighborhood.

Hayu Tilixam, which means "Many Nations" in the Chinook language, offers 50 new affordable housing units and is the third project by CDP and NAYA to provide housing opportunities for the Native community in northeast Portland...

Northwoods Celebrates Ribbon Cutting in Plattsburg, NY

Congratulations to our partners at Housing Visions Unlimited, Inc on the official ribbon cutting for Northwoods, a new affordable and supportive living community in Plattsburgh, NY! The ceremony was attended by partners, investors and state and local officials. This development brings 80 homes (1, 2 and 3-bedrooms) for individuals and families earning 80 percent or less of the AMI. Half of the units will include mental health support services through the New York State Department of Mental Health...

The Groves Celebrates Grand Opening in San Juan Capistrano

Our team had a wonderful time at the grand opening of The Groves senior development in San Juan Capistrano, California! The Groves is a new, 75-unit affordable senior living community created by our incredible partners at C&C DEVELOPMENT CO., LLC. The project offers 1- and 2-bedroom homes and features amenities that will benefit active seniors, including walk-in closets, elevator services and ADA accessible and adaptable units...

Red Tail Crossing Breaks Ground and Overcomes Covenant in Westchester

Sending a big congratulations to our partners at Community Corporation of Santa Monica on the groundbreaking of Red Tail Crossing. This is the first entirely affordable housing and permanent supportive housing development in the Westchester area! Red Tail Crossing will serve households earning between 15 and 70 percent of the AMI. The development will also bring a total of 102 units to the area in a mix of 1, 2 and 3-bedrooms. 40 of the 1-bedroom units will be reserved for formerly homeless individuals and 52 will be reserved for families...

Xenolith Partners Win Community Impact Competition for The Rise

Sending a big congratulations to our partners at Xenolith Partners on winning the Community Impact Competition for their project The Rise. Located in Brownsville, Brooklyn, The Rise is a 72-unit mixed-use development that offers affordable and supportive housing for formerly incarcerated individuals and families. Xenolith collaborated with the Women's Prison Association and the Brownsville Partnership to bring this project to life, which just broke ground in November 2022...

Juliette Fowler Communities Celebrates 130th Anniversary and Dedication of The Peak

Congratulations to our partners at Juliette Fowler Communities on the celebration of its 130th anniversary and the dedication of the newest building, The Peak at Fowler! Last month, members of the organization were joined by Dallas officials and community members to honor 130 years of collaborative care and service.

The Peak is a 144-unit development for independent-living seniors, addressing the "forgotten middle" senior. These are seniors who can neither afford higher-priced apartments nor qualify for lower-income housing...

Jaclyn Jackson Featured on How Women Inspire Podcast

We are extremely proud of our SVP and Chief Human Resources Officer, Jaclyn Jackson, who was recently featured on an episode of the How Women Inspire Podcast by How Women Lead!

Community HousingWorks Expands Affordable Housing Efforts into Texas

Congratulations to our partners at Community HousingWorks (CHW) on their expansion into Texas with the acquisition of Park at Woodland Springs, a 250-unit development right outside of the Houston area. Over the years, CHW has contributed heavily to the the preservation and new development of affordable housing throughout California...

Matt Reilein Recognized as a Crain's 2022 Notable Nonprofit Board Leader

Our sincerest congratulations to our president & CEO, Matthew Reilein, who has been recognized as one of Crain's 2022 Notable Nonprofit Board Leaders! Read about how Matt's leadership at Chicago Community Loan Fund (CCLF) helped alleviate racial disparities in the financial and affordable housing sectors and inspired the creation of CCLF's Communities of Color fund.

Stone Bridge Lofts Breaks Ground in Goodlettsville

Congratulations to our partners at Holladay Ventures on the groundbreaking of Stone Bridge Lofts, a 311-unit, mixed-use development in Goodlettsville, Tennessee! This is NEF's first deal in Tennessee in some time and will cater to residents earning between 50 and 60 percent of the Area Median Income (AMI). Thank you to our partners at Holladay Ventures for your commitment to building attainable and affordable housing, and thank you to our investors at Amazon Housing Equity Fund and the German American Bank...

NEF and Esusu Offer Financial Wellbeing to Thousands of Residents in Affordable Housing Communities

NEF is thrilled to announce that we have made an investment in Esusu, a leading financial technology company that leverages rent reporting for credit building. This collaboration is a milestone for NEF as our first strategic technology investment in the community development and affordable housing space...

Wecoma Place Breaks Ground in Lincoln City, OR

Congratulations to our partners at Stewardship Development, the Housing Authority of Lincoln County (HALC), Cornerstone Community Housing and Oregon Housing & Community Services (OHCS) on last week's groundbreaking of Wecoma Place, a new affordable housing community in Lincoln City, Oregon! The new development will bring 44 affordable homes to the area, all of which will be one and two-bedroom units available to residents between 30 - 60 percent of the Area Median Income...