Affordable Housing

Overview

Affordable, quality housing is essential to any thriving neighborhood. We make a positive impact on our communities by leveraging our knowledge of the development, financing, and regulation of affordable and public housing. Our team, including former U.S. Department of Housing and Urban Development (HUD) attorneys and advisors, brings unparalleled experience with federally assisted housing run by HUD and the U.S. Department of Agriculture’s Rural Development Agency. We work closely with developers, investors, lenders, and public agencies to preserve existing affordable housing, create new projects, and access capital markets for funding. Whether it’s securing multimillion-dollar financing for mixed-use projects or advising on the development of a first-of-its-kind, low-income affordable housing project for LGBT seniors, Nixon Peabody has the right experience, talent, and team to tackle any challenge.

Representative experience

• Acquisition of 207-unit Community in Boston: Represent an institutional fund manager focused on workforce and affordable rental housing in its acquisition of community housing development
• Stonewall House, Affordable Housing for LGBT Elders: Represent a client developing the 100% low-income, age-restricted project—the first of its kind in New York City
• Eleven Parkside, Mixed-use Development: Represent developer in securing $50 million of financing for the latest addition to Parkside, the 3.1-million-square-foot, transit-oriented, mixed-use development in northeast Washington, DC
• California's First RAD for PRAC Low-income Housing Transaction: A joint venture between St. Stephens Retirement Center, Inc. and CRP Affordable Housing and Community Development, LLC to preserve the retirement center as affordable, supportive housing for seniors; first project of its kind in California and the fifth nationwide
• New York City Housing Authority RAD/Section 18 PACT Transactions: Representing all of the developer teams in the joint venture; project, totaling more than 14,000 units, involved seven closings since 2016 and another 5,900 units which closed in 2021