The demand for affordable housing has never been greater, the benefits for communities and developers more significant, and the challenges more complex.
The development of affordable housing brings tremendous opportunities and benefits for communities throughout the U.S., and local, state and federal laws affect these projects. Our multidisciplinary team can help navigate this complex landscape and overcome challenges from concept to closing. Our clients include all of the participants in the affordable housing process: developers, lenders (including targeted lenders such as bank community development departments and bank direct purchasers of tax-exempt and taxable bonds), public housing authorities, state housing finance agencies and other bond issuers, owners, managers, underwriters and placement agents.
Our team of attorneys and government relations professionals know the affordable housing landscape inside and out. Drawing from a variety of backgrounds, including banking and finance, tax, real estate, construction, workouts, environmental, legislative advocacy, and litigation - we’re perfectly positioned to help you with any project.
Members of our team:
To reach Buchanan's Affordable Housing practice, contact Michelle Yarbrough Korb.
From the very start of any affordable housing project you undertake, our attorneys will work with you to see it through to completion. We can assist you by:
Financing: We can help you with financing structures for conventional loans, construction loans, tax-exempt bond financings and credit enhancements. We often serve as:
Tax Credits & Incentives: Our attorneys understand the full array of tax credits and incentives available in connection with the development of affordable housing:
Our attorneys also have served as counsel to upper tier investors as well as counsel to syndicators and investors in assisting with workouts of existing LIHTC transactions.
Multi-family and mixed-use projects frequently require a percentage of affordable housing. Our attorneys have been through this, and we can guide you through resolution of the issues that may arise. We know the rules and the players, so you don’t need to go it alone. We can assist with:
While ideally, an affordable housing transaction proceeds smoothly from concept to closing to completion and during operations, there may be challenges that surface along the way. Disputes may arise with regulatory authorities, financing sources, contractors, or procured developers. Our team is ready to assist in such situations. We work to resolve it by negotiating a settlement or utilizing arbitration and mediation. When litigation is the only option, our experienced litigators have one objective: to help you prevail and keep your project on track.
Because of our experience with the resolution of disputes, bankruptcies, workouts and restructurings, our team is better informed during initial structuring and negotiation to help prevent issues and disputes while being prepared to assist when such matters arise.