The low-income housing tax credit (LIHTC) is the most successful federal program for the creation and preservation of affordable housing across the nation. One of its main strengths is that it allows states to adapt the program to meet their specific housing needs.
This has created safe and affordable housing for a wide range of Americans, including working families, seniors, veterans, the formerly homeless, artists, Native Americans, and farmworkers. The LIHTC has also been vital to rebuilding after natural disasters and the foreclosure crisis and preserving some communities’ most treasured historic landmarks. The following pages detail 12 LIHTC developments across the country that exemplify the diversity of the program and the people it serves. Without the tax credit program, these projects might not exist.
We’ve also highlighted another important aspect of the projects—the estimated number of jobs each has created based on data from the National Association of Home Builders (NAHB). The NAHB recently updated its economic-impact model of home building and estimates that LIHTC development supports almost 96,000 jobs a year.
The trade group further estimates that for every 1,000 rental apartments developed, about 1,130 jobs are supported annually. Almost two-thirds of those jobs are in the construction sector, with the rest in industries such as manufacturing, transportation, and business services. Read more about the LIHTC program’s far-reaching impact.
A New Day in Harlem
Broadway Housing's new development boasts affordable housing, a preschool, and the Sugar Hill Children's Museum of Art & Storytelling.
Boomtown Gets New Seniors Housing
Developer converts historic Williston High School into 44 units of housing.
Homeless Veterans Find Housing, Stability at El Monte Development
Mercy Housing California and New Directions for Veterans team up to deliver 40 affordable housing units and an array of services for vulnerable vets.
LINC Housing Opens Second Project for Transition-Age Youths
Mosaic Gardens at Huntington Park provides homes for low-income families and formerly homeless young adults.
Women and Their Families Find Homes, Support at Gini’s House
Liberation Programs and New Neighborhoods team up to create 18 units for formerly homeless or at-risk households.
Missouri Project Offers Beacon of Hope for Residents
Development team creates a mix of duplexes and apartments to serve formerly homeless individuals as well as low-income households.
Reservation Gets Boost of Much-Needed Housing
Fort Peck Housing Authority constructs 24 energy-efficient homes for families in Montana.
Washington Developer Continues to Serve Farmworkers
Casa Kino in Quincy, Wash., helps to provide safe and affordable housing for agriculture laborers and other low-income households.
New Artist Housing Opens in Seattle
Artspace Mt. Baker Lofts provides 57 units for low- to moderate-income artists and their families.
Historic School Transforms into Housing
A historic technical school has been adapted into housing in Worcester, Mass.
Developer Helps to Transform Milwaukee Neighborhoods
Gorman & Co. purchases vacant lots and foreclosed homes from the city to create affordable housing and homeownership opportunities.
Nonprofit Rebuilds in Tornado-Ravaged Town
New affordable townhomes are coming to Phil Campbell, Ala., which suffered extensive damage and loss of life during an April 2011 tornado outbreak.