Low-Income Housing Tax Credits
Cinnaire Low-Income Housing Tax Credit funds have been used to create tens of thousands of affordable housing units to date.
Innovative Ideas and Powerful Solutions
The Low-Income Housing Tax Credit (LIHTC) is the nation’s largest and most successful tool for encouraging private investment in the production and preservation of affordable rental housing. It has been an essential element in Cinnaire’s affordable housing toolkit since our founding.
For us, it’s not just about closing the deal. We partner with the community--we look, we listen, we gain an understanding of the issues to determine its greatest needs. By partnering with local leaders, together, we tap into the “wisdom of the community” to develop the most innovative ideas and the most powerful solutions.
Then Cinnaire’s team of industry experts help to structure a deal using LIHTC, troubleshooting programs and addressing issues as they arise. Our asset management and fund management staff then provide detailed and analytic reporting to investors.
Collaboration Provides WI Farmworkers Affordable Workforce Housing
Cinnaire partnered with Southwestern Wisconsin Community Action Program to create The Meadows, a 32-unit affordable housing community in Darlington, WI. It is designed exclusively to support agriculture and farmworkers and their families by providing quality housing and support services for the predominantly Latinx workers.
Cinnaire provided a $4.1 million LIHTC investment. The Meadows received the 2023 Charles Edson Tax Credit Excellence Award and 2023 Top Rural Development Initiative award.
LIHTC Investment Revives Buildings--
And Lives
In 2013, Colony and Fisher Arms Apartments, one of the most problematic buildings in Detroit’s history, embarked on a multi-million dollar rehabilitation and restoration process. A successful and committed partnership between Cinnaire, Chesapeake Community Advisors, Inc., Building Blocks Non-Profit, and the City of Detroit allowed for unique financing, a new and improved management approach, and wide-spread community impact. Colony and Fisher Arms, now named River Crest Apartments, is a true representation of the revitalization efforts taking place in the city of Detroit. Not only are buildings and communities being revived, but lives are being renewed through these efforts.
1300 Residences Pairs Affordable Housing With Energy Efficiency
1300 Residences, a 50-unit senior and veterans housing development in River Falls, WI, fosters environmental sustainability, with 580 rooftop solar panels, three large solar flowers, and state-of-the-art air source heat pumps. These green features result in annual carbon dioxide savings of around 300 tons per year, while reducing utility and energy costs for residents. 1300 was selected as the prestigious Charles L. Edson Tax Credit Excellence Award recipient in the Green and Healthy Housing category. Cinnaire provided a $5.5 million LIHTC investment to support the $11.7 million project.
