LIHTC

Cinnaire Announces $175.7 Million Fund to Support Affordable Housing

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

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

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

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

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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Living Our Why: Luan Nguyen

As a hungry graduate armed with a finance degree from Grand Valley State University, I dove into the world of commercial credit, underwriting investment real estate as well as commercial and industrial loans. It was at a bank, and I learned a lot, but something was missing. Cinnaire was that missing piece.  I leveraged my experience

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

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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Cinnaire Celebrates Grand Opening for New Parkridge

Landmark Affordable Housing Development Brings New Homes, Hope and Opportunity to Residents  Cinnaire recently joined community leaders, residents and development partners to celebrate the grand opening for New Parkridge in Ypsilanti, Michigan. The new affordable housing community features 86 quality apartments and townhouses with on-site support services for individuals and families. Cinnaire, through a strategic partnership

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Cinnaire Featured in Tax Credit Advisor

Cinnaire was recently featured in an issue of Tax Credit Advisor. A leading industry magazine, Tax Credit Advisor provides comprehensive coverage on all aspects of the development and financing of affordable rental housing, historic preservation, and economic development projects using federal and state tax credits and other resources. Click here to read Untraditional Lending – CDFIs make tax

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Cinnaire and CHN Form Detroit Partnership

Partnership will work to bolster Detroit’s lease purchase program Cinnaire and CHN Housing Partners recently announced they have entered into a partnership to bolster the performance of our lease purchase developments in the City of Detroit. The partnership leverages CHN’s nationally recognized expertise in creating a successful lease purchase model to assist with nearly 200

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