Tax Credit Advisor Article Archives

Only a few months after Red Stone Equity Partners was founded in 2007, America suffered its worst economic recession in 80 years. While many companies in the affordable housing business closed, RSEP persevered, and over the next decade, became a leading national equity syndication platform.

REAC inspections, the means by which the Department of Housing and Urban Development’s Real Estate Assessment Center evaluates the fitness of HUD-subsidized housing, is being overhauled after 20-odd years.

Mercy Housing has a big footprint, with properties in 33 states and five regions of the country. The affordable housing nonprofit also has a big footprint in the lives of the occupants of those properties, with an extensive, diverse resident services effort that targets five different areas to make a big positive impact on their lives.

In recent years, the local political obstacles to adding dense housing are thought by analysts to be overcome with state policy. And often, these policies are “stick”–like in nature: Oregon, in 2019, passed a bill to outlaw single-family zoning in most parts of the state. Legislators in Virginia, California and Maryland have since proposed similar bills. But the “carrot” approach, which involves dangling financial incentives to cities that loosen zoning voluntarily, is also possible.

Though their business necessarily compels them to accommodate people during overnight stays, hospitals are the country’s least willing landlords, forced into the role by a to-them-toxic rapid evolution of healthcare laws, pharmacological potency, and one-way urbanization.

With CompassionCare, resident services are very much hands-on. You might see registered nurse Adam Sebek, for example, dash out of Park View Terrace Apartments to pick up an urgent prescription for one of the residents at the 120-unit property himself. The pharmacy isn’t far. It is in a mall right across the street from the Moorhead, MN affordable seniors/disabled development.

When many Americans think “solar panels,” they still think of an individual array of panels that go on someone’s home. This means they see solar energy as a burdensome process that requires too much time, money and roof space to apply to them. But recently, solar energy has become much more scalable and democratic – via the “Community Solar” model. This has grown in tandem with government subsidies, and could be a good business opportunity for real estate developers or other environmental entrepreneurs who have familiarity with tax credits.

Am I missing something or is the current campaign-driven conversation about healthcare totally focused on costs? Limiting the healthcare debate to dollars and cents makes no sense.

As you will read repeatedly in this issue, affordable housing is one of the most effective (and cost-effective) healthcare interventions, particularly for vulnerable populations, like the homeless. Without the stability of an affordable home, it is very difficult to treat the root causes of many common, yet intervenable, illnesses and conditions that plague modern America, whether it be hypertension, diabetes, obesity, asthma, mental illness or a myriad of other societal ills.

In case you haven’t already noticed, this issue of Tax Credit Advisor clearly demonstrates that the 50 states and the District of Columbia are at the vanguard of developing innovative housing solutions.