LIHTC

The Meadows Selected for Wisconsin Top Rural Development Initiative Honor

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The Meadows, a new construction affordable housing community in Darlington, WI, has been selected to receive the Wisconsin Rural Partners, Inc. 2023 Top Rural Development Initiative award. Cinnaire Solutions partnered with Southwestern Wisconsin Community Action Program (SWCAP) to develop the affordable housing development designed exclusively to support agriculture and farmworkers and their families. “The Meadows …

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Cinnaire Solutions and Southwest Detroit Business Association Break Ground on $24.5 Million Affordable Housing Development in Southwest Detroit

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The nearly $24 million development will offer 53 residential homes, including 42 affordable and 11 market rate apartments; and more than 6,000 sq. ft. of retail space when completed in 2024. The project is part of Detroit’s Strategic Neighborhood Fund. Cinnaire Solutions and the Southwest Detroit Business Association (SDBA) held a groundbreaking ceremony along with …

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Cinnaire’s Policy Pulse – March 2022

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Chris Neary, Cinnaire’s Senior Vice President for Policy, Research and Advocacy, provides an update on the Build Back Better plan, an omnibus signed into law and potential reform to the CRA in the latest issue of Policy Pulse.    Click here to see the March 2022 edition of Cinnaire’s Policy Pulse https://conta.cc/3IFJJJQ  

Cinnaire Announces $175.7 Million Fund to Support Affordable Housing

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Cinnaire has announced the closing of a $175.7 million Low Income Housing Tax Credit (LIHTC) fund that will finance the development or preservation of more than 1,648 affordable homes and 2,441 bedrooms in 5 states. Nine investors are participating in the fund, which is Cinnaire’s largest multi-investor equity fund since 2016. “Cinnaire’s new team leading …

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Cinnaire’s Permanent Recovery Supportive Housing Initiative Receives Affordable Housing Finance Readers’ Choice Award

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The Affordable Housing Finance annual Readers’ Choice Awards honor and recognize outstanding affordable housing developments in ten categories. Projects are selected based on impact on a community, role in overall revitalization or social change, offering outstanding social services and addressing unique challenges. Cinnaire is pleased to announce Andy’s Place, in Jackson, MI, has received the …

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Cinnaire Announces $52 Million Mid-Atlantic Capital Fund Closing

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Cinnaire announced today the closing of the organization’s 2021 Mid-Atlantic Low Income Housing Tax Credit (LIHTC) Fund. The $52 million fund will bring more than 570 units of affordable housing to communities across Delaware, Maryland, New Jersey and Pennsylvania. Cinnaire has partnered with insurance companies and financial institutions throughout the Mid-Atlantic to raise more than …

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Advancing Communities Podcast: Private Investors Seeking Windfall Returns at Year 15 – Opa-locka CDC Wins Key Lawsuit in Florida

Advancing Communities Podcast, In The News / By
Podcast slide on Opa-Locka winning Year 15 Lawsuit

In this episode of the Advancing Communities Podcast, Cinnaire’s Chief Strategy Officer Jim Peffley continues his three-part series examining a growing crisis in the affordable housing industry where private equity funds or other investors are seeking windfall returns at Year 15. By ignoring Right of First Refusal agreements and forcing owners to either make large payment plans …

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Affordable Housing Credit Improvement Act Introduced in Congress

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U.S. Capitol building

On April 15th, a bipartisan group of Members of Congress introduced the Affordable Housing Credit Improvement Act (AHCIA). This legislation (H.R. 2573 / S. 1136) would expand and strengthen the Low-Income Housing Tax Credit (Housing Credit), providing as many as 2,015,000 additional affordable homes over the next decade. It would also support nearly 3 million jobs and generate …

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Metea Court Selected as Battle of the Buildings Biggest Loser

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Hollander Development Hosts Open House to Celebrate First Place in the Michigan Battle of the Buildings Hollander Development recently hosted an open house to celebrate winning first place in the Michigan Battle of the Buildings Biggest Loser contest. The Michigan Battle of the Buildings is an awards and recognition program for energy use reduction open …

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Cinnaire Awarded $4.15 Million Capital Magnet Fund Grants from the CDFI Fund

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Award Provides Financing to Support Affordable Housing for Low- and Very-Low Income Communities Cinnaire was recently awarded $4.15 million in grants from the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Capital Magnet Fund. The grants will be used to support affordable housing and community development throughout Cinnaire’s footprint. The Capital Magnet Fund helps …

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