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Artists Lofts Receive LIHTC Equity

By Donna Kimura

PATCHOGUE, N.Y—Raymond James Tax Credit Funds announced that it has partnered with Capital One Financial Corp. to provide $8 million in low-income housing tax credit equity for the construction of 45 units of studio and living space for artists.

The Artspace Patchogue Lofts is under construction and scheduled for completion by December. The five-story building will have two commercial units on the ground floor.

It is a project of Artspace, a nonprofit developer that creates affordable housing and studio space for artists.