Alliant Capital announced the closing of a $130 million low-income housing tax credit (LIHTC) fund that will help create or preserve more than 1,100 affordable homes, 750 specifically for seniors and 630 that include project-based subsidies.
Fund 104 will finance 14 properties in states that are among the hardest hit by the coronavirus pandemic: California, Georgia, Indiana, Michigan, Missouri, Texas, Utah, and Virginia.
“Creating affordable housing in states where the pandemic is spreading quickly addresses the critical need for this type of support in our current climate,” says Shawn Horwitz, CEO of Alliant Capital. “We remain focused on supporting communities in need across the country.”
The company, a leading LIHTC syndicator, has provided housing for more than 400,000 low-income families, seniors, and veterans throughout the United States. Comprised of over 1,000 properties under the LIHTC program, Alliant’s portfolio exceeds $16 billion in assets under management.
"We're seeing that affordable housing is essential, and that will continue into 2021,” says Dudley Benoit, executive vice president. “With the eviction moratorium ending and people facing job losses and displacement, they need safe, clean housing that they can afford. Alliant added over 5,000 units to our portfolio this year—reaffirming both the stability of the affordable housing industry and the crucial nature of the work we do."