Member News

Representatives from more than 100 of the nation’s top affordable housing organizations gathered at the Ocean Reef Club in Key Largo, FL, last week for the 2015 NH&RA Annual Meeting. The event’s panel sessions created dialogues on what’s challenging – and exciting – affordable housing developers, illuminated the products and people who will shape the tax credit transactions in upcoming year, offered options to properties approaching year 15, and surveyed key changes to tax credit programs and legislation.

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

WinnCompanies named Gilbert Winn as its new Chief Executive Officer. Gilbert succeeds former CEO Samuel Ross, who after 21 years of dedicated and valuable work at WinnCompanies announced his retirement at the end of 2014. Gilbert is the son of Albert Winn, Principal and Founder of WinnCompanies.

Nixon Peabody LLP elected three partners to its Tax Credit Finance & Syndication practice. The new partners are Nathan Bernard, Christopher Perkowski, and Katie Tenney.

The Community Development and Affordable Housing Fund, LLC, an investment fund sponsored by Candeur Group, received certification as a Community Development Financial Institution (CDFI) from the United States Treasury.

City Real Estate Advisors (CREA) announced the closing of $430 million in investor equity in 2014. Additionally, CREA raised $45 million from investors for transactions that will close in the first quarter of 2015.

Elevate Energy has joined forces with New Ecology to help affordable housing property owners and managers to reduce their property’s energy costs. They are offering free baselining services to multifamily affordable housing properties in Illinois, Missouri, Maryland, Rhode Island, and Pennsylvania, along with the Richmond, VA, Metro area.

NH&RA signed-on to support the National Low Income Housing Coalition’s campaign to urge lawmakers to to act quickly to stop budget caps and sequestration from taking effect in the upcoming fiscal year.

The San Francisco-based accounting and consulting firm Novogradac & Company LLP welcomed Mark Shelburne to the firm’s consulting practice. For the past 13 years, Mr. Shelburne worked for the North Carolina Housing Finance Agency, where he coordinated the qualified allocation plan, initiated award-winning programs, testified before Congress, worked with many housing finance agencies and wrote a book on LIHTCs.

Stifel Financial Corp. (NYSE: SF) today announced that it has entered into an agreement to acquire Merchant Capital, LLC, a public finance investment banking firm headquartered in Montgomery, Alabama, which together with offices in Atlanta, GA and Columbia, SC, serve the Southeastern market.

NH&RA member firm California Commercial Investment Group, Inc. (CCI), a California-based national affordable housing preservation and development firm, recently celebrated the Grand Opening of Fickett Towers Senior Apartments in Van Nuys, CA

NH&RA Member Firm, Vesta Corporation, rehabs rural senior housing community, Villa Serena Apartments, in Mayfield Heights, Ohio.