National Equity Fund's mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. We strive to be diverse, equitable and an inclusive place to work so that our team has the experience and knowledge to effectively support our partners and communities.
Our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them to reach their full potential.
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.LEARN MORE
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.LEARN MORE
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.LEARN MORE
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.LEARN MORE
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.LEARN MORE
NEF's Emerging Minority Developer Fund (EMDF) was designed to create access to equity capital resources to facilitate accelerated development capacity and wealth creation for Black, Indigenous and People of Color (BIPOC) developers who have not had proportionate and consistent access to LIHTC. With our investor partners, we have committed capital for the Fund well exceeding our original $100 million target.LEARN MORE
The Emerging Minority Developer Fund (EMDF) "helps address the biggest LIHTC barrier minority developers face—guidelines that require $1 million of liquidity and $5 million in net worth,” Lydia Smith explains in "$147 Million Emerging Minority Developer Fund Broadens LIHTC Access" in Affordable Housing Finance.Read More
The NEF team is proud to support and celebrate with our partners at Englewood Community Development Corporation and Noble on the grand opening of The Passage Apartments in Indianapolis! The Passage provides 39 affordable housing units with one floor set aside for short-term rentals, eight apartments for residents with disabilities and their families, and the remaining units reserved for households earning no more than 60% of the area median income (AMI).Read More
Congratulations to our partners at KINGSLEY + CO. and Serving Older Adults Through Changing Times (SO-ACT) on the groundbreaking of Victory Vistas! Soon, 50 units of affordable housing for seniors will be available in the Paddock Hills Community of Cincinnati.Read More
NEF's Daryl Shore, Head of Structured Finance, will speak on the Neighborhood Housing panel (Session 6B) at the inaugural Diverse Developers Conference on Thursday, October 12 in Chicago! The session will discuss ways to preserve naturally occurring affordable housing (NOAH).Read More
NEF is thrilled to celebrate the groundbreaking of the Fischer Senior Apartments, the latest affordable housing development from our partners at WSFSSH, Inc.
Located in the Highbridge neighborhood of The Bronx, The Fischer Apartments will bring 105 homes for seniors 55+, including 54 units for formerly homeless seniorsRead More
Congratulations to our partners at Full Circle Communities, Inc on the groundbreaking of Raymond E. Shepherd Housing in Ferndale, MI! This development is a direct response to the needs of the community, specifically its notable LGBTQ+ and elderly populations in need of affordable housing.Read More
Congratulations to our partners at Women Organizing Resources Knowledge and Services (W.O.R.K.S) and GTM Holdings, LLC on the ribbon cutting of the Depot at Hyde Park in southeast LA! The event was well-attended by city officials, including Mayor Bass and Councilman Harris-Dawson, and community members.Read More
Congratulations to our partners Magnusson Architecture and Planning, Xenolith Partners, Women's Prison Association and Home (WPA), and Brownsville Partnership on The Rise being recognized as a NYSERDA Buildings of Excellence and Blue Ribbon for Design Excellence award winner!Read More
The NEF team is proud to support our partners at the Women's Development Corporation and RIHousing on the ribbon cutting for the Pine View Apartments in Exeter, Rhode Island.
Pine View Apartment offers 40 units of affordable housing to a semi-rural community about 25 miles outside of Providence.
Congratulations to our partners at Amsterdam Housing Authority and 3d Development Group LLC on the ribbon cutting ceremony of the New Amsterdam Apartments in Amsterdam, NY. It was an honor to have Governor Kathy Hochul and Mayor Mike Cinquanti speak at this event along with NEF's very own Emily Chen, other stakeholders, and community members. The substantially renovated New Amsterdam Apartments offers 116 units of affordable housing for seniors aged 55+ earning at or below 80% of the area median income (AMI).Read More
The NEF team is proud to support our partners at Evergreen Real Estate Group who recently held the groundbreaking of Encuentro Square. Soon, 89 new affordable housing units will be available for those who need it most in a development that unites the Logan Square, Humboldt Park and Hermosa neighborhoods of Chicago.Read More
Congratulations to our partners at Full Circle Communities, Inc (FCC) on 5150 Northwest Highway being awarded Outstanding Affordable Project in the 15th Annual LEED Homes Awards by the U.S. Green Building Council (USGBC).Read More
In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closings on the fourth and fifth deals of the fund:
We are thrilled to announce that NEF has invested in six affordable housing developments recognized as Affordable Housing Finance (AHF)'s 2023 Readers' Choice Awards Finalists in four separate categories. These outstanding developments were selected along with 30 others across 18 states out of 145 total entries for their dedication to creating and preserving stable, safe, affordable, and supportive housing for a variety of populations.Read More
Our very own Emily Chen was thrilled to join our partners at Project Freedom, Inc. and the New Jersey Housing and Mortgage Finance Agency (NJHMFA) at the ribbon-cutting of Freedom Village at Hamilton Woods in Hamilton (Mercer County), New Jersey!
This incredible affordable housing and supportive housing development prioritizes inclusivity through accessibility for individuals with disabilities.Read More
Congratulations to our partners at Pennrose, the I-195 Redevelopment Commission and the City of Providence, on the groundbreaking of Parcel 9 Phase 1 in the Fox Point neighborhood! This development marks Pennrose's first in Rhode Island and will help transform the area with a new mixed use, mixed income space for individuals and families.Read More
"NEF provides more than just competitive tax credit pricing and great service. They are truly committed to their partners. When I launched Excelerate Housing Group, a woman-owned development firm, they not only provided encouragement but when our team closed our first deal, they really stepped up to make the project work."
"NEF has been a trusted partner and shares our mission of helping those in need of safe, quality affordable housing. They earn our repeat business through competitive tax credit pricing, strong asset management and smooth Year 15 exits. It’s why we have partnered together on more than 17 tax credit deals over the past two decades."
"New Hope Housing has the good fortune to connect with National Equity Fund in 2008 when we embarked on our first LIHTC development. One factor that sets them apart is the staff. The people and their commitment to their partners exceeded any expectations I had."
Native American Connections (NAC) began its partnership with National Equity Fund in 2010 during a challenging economic time. Arizona had one of the highest foreclosure rates and banks and investors were nervous about investing in Phoenix, “but, NEF took the time to learn about NAC’s 40-year history of serving the community, our impact, and our sustainability,” stated Diana Yazzie Devine, CEO of NAC.
2022 marks the 50th anniversary of NAC’s service to the homeless and low-income community, and NEF maintains its lasting relationship as NAC continues to develop award-winning affordable housing communities that are on the leading edge of urban and sustainable development through public and private partnerships. “Currently, Phoenix has one of the highest inflation rates, and some of the highest rental rates along with the lowest affordable housing inventory in the country,” observes Devine and adds, “we are right back in challenging economic times.”
Since the collaboration began, NEF continues to be a vital partner in helping NAC to consistently add hundreds of units of permanent supportive housing for chronically homeless and low-income individuals and families.
NEF supports NAC’s strategies of building along Phoenix’s light rail system and other transportation corridors, selecting urban infill sites that are challenging to the city to increase its density, reducing unnecessary parking, building green and ensuring that residents have access to much-needed supportive services. Devine concludes, “NEF understands NAC’s commitment to provide quality supportive services for residents. Together we invest to better the quality of the lives of people we serve.”