Affordable Housing via Historic Tax Credits and LIHTC

[Zander Kempf]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

A 63,000 sf mixed used development. The historic preservation project will result in a restaurant, 20,000 sf of commercial space, and 35 affordable apartments.

How did you finance this deal?

Combined financing from a local bank with a local economic development corporation. Equity was raised through syndication.

How did you add value to the deal?

We made the property fully entitled for 35 residential units. We then leased out the commercial space providing immediate cash flow.

Lessons learned? Challenges?

Too many to count. There are endless possibilities in development and there is always a way to make things work out.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am always happy to give referrals. Send me an email to connect.