National Equity Fund, Inc.

A few weeks ago, our partners at HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION (HICDC) were joined by community stakeholders, the governor, two senators and the mayor at the dedication ceremony for Kauhale I Ke Kula Uka, an #affordablehousing development in Kailua-Kona, HI. Kauhale I Ke Kula Uka offers 99 homes for households earning up to 60% of the area median income (AMI) with a focus on family housing in an area with a high demand. HICDC has a 32-year track record of developing affordable communities; however, this is its first project in the Kona area in over a decade. Thanks to all the partners on this project, Kauhale I Ke Kula Uka residents can celebrate the holiday season and start the new year in safe, stable, and affordable homes! Learn more in the article linked below. https://lnkd.in/gxsUWPu2

Congratulations to our partners at Bear Real Estate Group on breaking ground at the site of the East National Flats. Soon, Milwaukee's Harbor District will have 140 new units of #affordablehousing! A special thanks to our own Danny Gutman who attended and spoke at the groundbreaking on behalf of NEF!

Thank you to Congressman Michael Carey for taking the time to tour Avondale Senior Village in Dublin, OH and meet with NEF's Kristen Senff and representatives from National Church Residences and AHTCC. We are grateful for the opportunity to collaborate with members of Congress to ensure that our mission to help create and preserve #affordablehousing stays strong for years to come!

Congratulations to our Structured Finance team on a productive Q3 in the preservation and moderate income rental housing space! Our team has financed 6 developments in 5 states for over $112 million to preserve 1,195 units of #affordablehousing. We're working with two (2) new developers, including Momentum Housing, as well as a longstanding partner Community HousingWorks. It's great to see our team thriving to implement our mission to expand the creation and preservation of affordable housing! Learn more about our preservation financing solutions at the link below. https://lnkd.in/gg4wnjD4

Last week, NEF’s Louise Fattaleh and Meredith Hudak attended the grand opening of People’s Place in Santa Paula, CA. Developed by our partners at People's Self-Help Housing, People’s Place provides 69 one-, two- and three-bedroom homes for families and farmworkers earning 30-60 percent of the area median income (AMI), with 21 units being specifically set aside for farmworker households. With ample on-site amenities, including a community center and community kitchen, a learning center, outdoor courtyards with cooking grills and a playground, residents have the opportunity to reach their fullest potential through safe, stable #affordablehousing. Additionally, residents have access to supportive services should they need any assistance. Thank you to our partners and investors who continue to advocate for more affordable housing throughout the country. Read more about People’s Place and check out images from the grand opening below. https://lnkd.in/gjADYbKB

NEF’s Danny Gutman met with Congressman Darin LaHood and staff members as well as partners from Bedrock Property Management and NORTH ARROW PARTNERS to tour a standout development in Henry, IL. Oak Field Place is a 30 unit #affordablehousing development that opened in 2021 and serves seniors 55+. The participants toured two of the units and learned more about the strong need for affordable housing, specifically in rural districts like LaHood’s. Thank you to Congressman LaHood for not only visiting, but for taking the time to speak and engage with several residents who were eager to meet. Residents and partners were able to learn more about LaHood’s advocacy for the Affordable Housing Credit Improvement Act and the strong bipartisan support it receives in Congress. We are grateful to be able to meet and collaborate with members of Congress to ensure that our mission to help create and preserve affordable housing stays strong for years to come. Thank you to the residents who opened their homes to participants and ensured that everyone experienced a warm welcome and an educational visit!

“We have seen a decrease in pricing over the year so far and are hopeful that the uncertainties that we know are coming have been priced in at this point so that pricing will hold steady in the second half of the year.” NEF's president and CEO Matthew Reilein was quoted in Affordable Housing Finance's article about the outlook for the #LIHTC market in the remaining days of 2024. Read more about the what the #affordablehousing industry's future may hold in the link below. https://lnkd.in/gVmufN2J

In partnership with our Emerging Minority Developer Fund (EMDF) investors, we are pleased to announce the closing of Bronzeville Creative Arts & Technology Hub, a new construction of a mixed-use, mixed-income development with 48 units of affordable housing in Milwaukee, Wisconsin with co-sponsors FIT Investment Group, LLC and Lutheran Social Services of Wisconsin and Upper Michigan (LSS). NEF established the EMDF to build the financial capacity and experience of developers of color to help them overcome today’s high barriers of entry in accessing #LIHTC to create new #affordablehousing. Learn more about EMDF: https://lnkd.in/g7iv2N92

A few weeks ago, representatives from the city of Santa Monica and our partners at EAH Housing gathered with newly housed residents to celebrate the official opening of the Laurel. More than half of the 57 #affordablehousing units at the Laurel are home to seniors, many of whom have been chronically homeless for years. Other residents include entrepreneurs, art educators, filmmakers, and adjunct professors who were at risk of #homelessness due to the pandemic and losing their jobs. These residents can take advantage of onsite, wrap-around services provided by The People Concern. Congratulations to all involved in making this much-needed affordable housing development a reality! Learn more about the Laurel at the link below. https://lnkd.in/gTgv_HBc #seniorhousing #housingforall

One of the original leaders at NEF, Karen Przypyszny, has made the decision to move on from NEF to begin the next chapter of her personal and professional life after 24 years. Karen’s dedication to affordable housing brought her to NEF in 2000 and since then she has been highly influential and impactful. She served as the SVP of acquisitions for 9 years before transitioning to investor relations, growing NEF’s proprietary fund work and building partnerships with investors that are still active today. For the past six years, Karen provided thought leadership in her role as managing director of special initiatives, overseeing the optimization plan, and spearheading new programs including Opportunity Zone Funds, Workforce Housing, and NEF grant initiatives in addition to her work in driving NEF’s ESG agenda. Karen’s broad experience coupled with her vast knowledge have been invaluable to achieving NEF’s successes and innovations throughout the years. Karen, thank you for your loyalty, leadership, unwavering commitment to every part of NEF, to our partners, and to affordable housing. You will be greatly missed, but it’s safe to say that NEF would not be the industry leader that it is today without you, so your legacy most certainly lives on. We wish you all the best!