In 2021, NEF had its strongest performance throughout its 35-year history, raising and deploying a record-breaking $2.2 billion in affordable housing investments, which included a record $1.23 billion in LIHTC investments and a record $930 million in affordable housing preservation lending. In total, these investments created and preserved 13,550 affordable homes in 2021. Other notable activity for the year included $110 million in committed Opportunity Zone investments, twinning with LIHTC benefits, to create new affordable housing where each state determines it’s needed most, and record workforce housing investments of nearly $40 million to support the nation’s “missing middle”. NEF has also now raised over $112 million for its Emerging Minority Developer Fund to stand up to racial injustice and empower the next generation of Black, Indigenous, People of Color (BIPOC) LIHTC developers to build their financial capacity and overcome high barriers to entry in accessing LIHTC investment to build affordable housing.
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