High Swartz affordable housing projects have ranged from smaller, low-income housing tax credit (LIHTC) developments involving new construction of 40 or fewer apartment units, to large rehabilitation/preservation transactions involving layered refinancing, the de-coupling of interest reduction payments from the original loan, and the application of such payments to new, HUD-insured, first-lien financing.

A number of affordable housing finance projects have involved historic tax credits as well as Low Income Housing Tax Credits (LIHTC). The physical layouts of the affordable housing projects have included scattered site developments, garden-type apartments, and mid-rise apartment buildings. Several of the projects have involved mixed-use facilities requiring the submission of the project building or buildings to a condominium regime or regimes, with commercial space on the first floor and residential units on the upper or adjacent floors. A number of our projects have involved ground leases from local housing authorities. Several sites involving new affordable housing developments have been submitted to “land condominium” regimes.

The sources of financing for development transactions in which our real estate attorneys have participated range from LIHTC syndications to HUD-insured loans from conventional lenders, PennHOMES loans from the Pennsylvania Housing Finance Agency, and housing assistance loans from the Pennsylvania Department of Community and Economic Development. At the more local level, we have represented our developer clients with respect to HOME loans and CBDG loans from local finance agencies, including:

Financing for particular projects can involve four or more sources, all layered into one transaction. Give the real estate attorneys here a call to assist in your affordable housing finance project today.

Real Estate Law Blog

What are Consentable Lines in Pennsylvania?

Proving Consentable Lines and Property Lines in Pennsylvania can be a difficult process.  When an actual, de facto boundary between two adjoining properties exists apart from the legal descriptions of both properties by deed, Pennsylvania Law provides

Read More

Tenants and Bankruptcy

Few events are more frustrating to a landlord than tenants and bankruptcy. The uncertainty of whether the tenant will pay outstanding rent, compensate for utilities and late fees, and leave the property can be infuriating. Originally acquired as a source

Read More

Should I form an LLC for an Investment Property

So you want to invest in real estate, possibly buying one or more investment properties, but are not certain if you should buy them in your own name, as husband and wife or through some form of legal entity. The decisions you make now regarding the purchasing

Read More

Boundary Disputes in Pennsylvania

Boundary disputes between neighbors and their properties are nothing new, and are probably just about as old as the concept of privately-owned real estate. Disputes between adjoining property owners regarding the location of their common property line

Read More

Real Estate Law News