Designed to strengthen and preserve affordable housing developments by complementing Low-Income Housing Tax Credit (LIHTC) investments, preservation funds are equity real estate investments in existing affordable multifamily rental housing – providing benefits to tenants, investors and our operating partners alike.
Benefits for tenants
The benefits of preservation funds don’t stop with preserving the affordable rental housing within a community, the tenants also benefit from improved living conditions, upgrades to community amenities and service offerings, and many times, a more caring and attentive management team.
Benefits for investors
These funds help investors meet socially responsible objectives and satisfy an institution’s community development obligations – namely preserving affordability in the housing market and infusing capital in underserved communities – often with higher cash-based returns than with a traditional LIHTC investment.
Benefits for operating partners
Preservation funds help our local operating partners acquire affordable multifamily housing for the management, ownership and potential future redevelopment opportunities, while preserving the majority of their own capital for deployment in other ventures.