Affordable Housing

Our Focus

The economic complexities of today’s real estate and financial markets present challenges and opportunities. Our clients benefit from the legal know-how of our lawyers and the sound counsel of our government affairs consultants who together provide creative business solutions while navigating the complex regulations governing affordable housing investments.

Affordable housing and community development raise intricate legal challenges that can be difficult to process. Today’s economic and public funding climate further complicate activity in this area, so it is critical to work with attorneys who understand the business of affordable housing and have the creativity to get deals done.

Our lawyers provide clients with real estate, tax, financing and government affairs solutions. We advise on low-income housing tax credit, public-private partnerships, governmental financing and economic development initiatives, tax allocation district formation and financing, and other tax-exempt bond financings.

Our Capabilities

• Banking and financial services
• Corporate transactions
• Federal, state and local government housing assistance and grant programs
• Government-backed financing programs
• Historic tax credits
• Low-income housing tax credits
• Mixed-income and mixed-use developments/public-private partnerships
• New market tax credits
• Opportunity zones
• Projects receiving Section 8 housing assistance payments
• Public finance
• Regulatory and legislative matters
• Rental assistance demonstration program development
• Tax and business entity structuring
• Tax-exempt bonds

Lending: GSEs and Other Capital Sources

Members of the affordable housing team have extensive experience representing multifamily agency lenders pursuant to the Fannie Mae Multifamily Affordable Housing and Freddie Mac Optigo Lender Targeted Affordable Housing programs, as well as mortgage banking and mortgage brokerage services and letter of credit-backed construction bond transactions. We assist clients with the origination of multifamily mortgage loans with affordable housing attributes such as Low-Income Housing Tax Credits, Section 8 Housing Assistance Payment Contracts, regulatory agreements, tax abatements/exemptions, subordinate debt originated by state and local regulatory agencies, and other subsidies provided pursuant to federal and state affordable housing and community development programs, as well as in the negotiation and origination of unfunded forward permanent loan commitments as credit support in connection with the construction of affordable housing projects. In addition, we represent traditional portfolio lenders (including bridge-to-agency programs), construction lenders, and mortgage originators of commercial mortgage-backed securities conduit lending programs on loans secured by affordable housing properties. We have experience representing senior lenders in connection with issues arising from secured and unsecured subordinate debt, including preferred equity and mezzanine financing. We handle loan servicing matters in the affordable housing sector, including transfer requests, assumptions, property-level consent requests, and modifications and extensions of portfolio loans. We have helped clients organize and maintain high-volume real estate loan programs and have assisted in the development of lending programs and loan documentation for nationwide and more locally-targeted use.

Our Approach to the Markets

Our team draws on years of collective hands-on experience with housing and community development programs and agencies on every level across our platform. Reflecting the complicated nature of many of these projects, our veteran real estate, tax, syndication, land use, public finance and policy attorneys collaborate to deliver an integrated approach to client needs.

With our extensive firm platform, we shape housing industry policy so we can anticipate issues, cut through complex regulations and keep affordable housing investments moving forward.

Download a PDF copy of our team brochure