Affordable Housing in the Face of Austerity
These are increasingly austere times for affordable housing development, but experienced specialists in the space ought to be able to roll with the punches, WNC COO Michael Gaber tells us, especially experts in Low Income Housing Tax Credits. Bipartisan support in Congressrare these dayswas evident in the recent extension of the 9% tax credit floor, Michael says. Recently nonprofit Western Community Housing Affordable and multihousing specialist Palm Communities broke ground on the 61-unit Ramona Park Senior Apartments in Long Beach, an affordable property. Irvine-based WNC provided part of the propertys financing, $7M, in the form of LIHTCs.
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