Boston Financial today announced Institutional Tax Credits 59 Limited Partnership (ITC 59), a $164 million LIHTC fund. ITC 59 will help create and preserve 1,357 homes across 22 properties and 18 communities in 10 states. ITC 59 secured commitments from seven institutional investors, including a mix of regional and national banks and insurance companies, allowing for the deployment of capital to 14 affordable housing developers, over 40 percent of whom are nonprofits. This fund is expected to create 1,980 new jobs, bringing an estimated $223 million in wages and business income to surrounding communities, as well as $77 million in tax revenue. Nearly 70 percent of the properties will bring affordable rental homes to minority communities, and several will have units designated for seniors, persons with physical or mental disabilities, as well as formerly unhoused people.