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    1. Home
    2. People
    3. Richard S. GoldsteinPeople
    1. Home
    2. People
    3. Richard S. GoldsteinPeople

    Richard S. Goldstein

    Senior Counsel


    • Washington, DC
    • Office202.585.8730
    • rgoldstein@nixonpeabody.com
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    Introduction

    Rick Goldstein has been deeply involved in the low-income housing tax credit since its enactment in 1986 and is a national authority on that program.
     

    Rick represents syndicators, investors, developers and other participants in transactions involving the housing tax credit. His leadership in the affordable housing industry was recognized by Affordable Housing Finance Magazine, which named Rick to its Affordable Housing Hall of Fame in 2014.

    Practice Areas

    Community Development FinanceAffordable HousingRegulatory & Government RelationsReal EstateOpportunity ZonesLow Income Housing Tax Credits

    Industries

    Real Estate

    My focus

    I focus my practice in two areas: transactions and public policy, both with the low-income housing tax credit in common. This unique combination has direct benefits to the firm’s clients—I can counsel clients on detailed and complex transactional matters, and can also advise them on how public policy affects current and future business matters.

    Transactional

    On the transactional side, I have been representing syndicators, investors and developers in housing tax credit deals since 1987, including acquisitions of project partnerships, dispositions and “upper tier work.” With my breadth of experience, I generally focus on more complex transactions. For example, I recently closed two master lease transactions allowing for separate ownership of market rate and low-income units on behalf of PNC Bank. Representing CREA LLC, I recently closed an urban new construction transaction and a rural rehabilitation deal, each of which involved complex business and tax issues.

    Public policy

    My lobbying involved, for almost 30 years, representing the Affordable Housing Tax Credit Coalition, a major Washington DC trade association in the housing credit industry. My transactional experience gives me exceptional credibility in advocating for the housing tax credit from the perspective of a professional in the field. I have developed deep relationships with a number of members of Congress, including those in leadership positions.

    Looking ahead

    Congress recently passed comprehensive tax reform, the effects of which are still being analyzed, but it did continue the housing credit and housing bonds without any change. Congress is considering legislation that, if enacted, would expand and improve upon the housing credit. Despite the industry’s success in maintaining the housing credit and housing bonds, no one should be complacent about continued support for these critical programs. Industry participants need to continue to educate members of Congress on the importance and success of these affordable housing tools.

    In the news

    • Affordable Housing Finance

      Senate passes tax bill as housing advocates work to preserve bonds

      Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article on the differences between the Senate and House tax bills in their impact on affordable housing in the U.S.
      Dec 4, 2017
    • National Mortgage News

      How tax reform could devastate the affordable housing market

      Washington DC tax credit finance and syndication partner Rick Goldstein is quoted this article on how the tax reform plan would impact affordable housing in the U.S.
      Dec 1, 2017
    • Affordable Housing Finance

      House passes tax reform bill; Senate Finance Committee sends bill to floor

      This article covers Affordable Housing Finance’s recent annual AHF Live: The Affordable Housing Developers Summit in Chicago and quotes Washington, DC tax credit finance and syndication partner Rick Goldstein discussing the proposed tax reform bill.
      Nov 17, 2017
    • American Banker

      How tax reform could devastate the affordable housing market

      Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.
      Nov 15, 2017
    • CNBC

      Squawk on the Street

      Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.
      Nov 14, 2017
    • PBS

      Nightly Business Report

      Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.
      Nov 14, 2017
    • The Real Deal

      The good and bad news about the GOP tax plan

      Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article discussing how the GOP’s proposed tax reform plan will affect affordable housing.
      Nov 3, 2017
    • POLITICO New York

      Republican tax plan would decimate affordable housing in New York, advocates and city officials warn

      Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article about the impact of the House Tax Reform Bill on affordable housing.
      Nov 3, 2017
    • Indianapolis Business Journal

      City Securities' lesser-known sibling sells

      Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein is quoted in this article discussing the sale of client, CREA, and how industry supply and demand is driving interest.
      July 2, 2016
    • Washington Post

      Congress Looks to Make Rents More Affordable

      This article discusses the recent tax bill cleared by Congress, which makes the Low-Income Housing Tax Credit more generous and easier to finance the construction of affordable rental housing. Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein, one of the leading advocates, is quoted in the piece. The article notes that Nixon Peabody “has one of the nation’s leading legal practices that specializes in tax credits and real estate development.”
      Dec 21, 2015
    • Affordable Housing Finance

      Shining Lights: Five Illustrious Industry Leaders Are the 2014 Inductees to the Affordable Housing Hall of Fame

      Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein is prominently featured among this year’s Affordable Housing Hall of Fame honorees.
      Oct 1, 2014
    • Affordable Housing Finance

      Industry Leaders Head into Affordable Housing Hall of Fame

      Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein is featured along with the four other inductees into the Affordable Housing Hall of Fame.
      Aug 26, 2014
    • Tax Credit Advisor

      LIHTC 2014 Outlook

      Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein discusses the outlook for low income housing tax credits in the coming year.
      Feb 1, 2014

    Admitted to practice

    District of Columbia

    Education

    Boston College Law School, J.D.
    State University of New York at Buffalo, B.A.

    Recognition

    Richard was selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2023 in the field of Real Estate Law. Richard has been listed in Best Lawyers since 2018.

    Insights And Happenings

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    • Article

      What’s trending in Affordable Housing

      June 18, 2019
    • Article

      Affordable Housing Credit Improvement Act of 2019

      June 5, 2019
    • Press Release

      Sixteen Nixon Peabody attorneys named “Lawyers of the Year” by The Best Lawyers in America© for 2019

      Aug 15, 2018
    View All

    Professionals in the Practice Area

    View All
    • Matthew W. Mullen

      Partner / Community Development Finance Practice Group Leader
      • Washington DC
      • Office:202.585.8128
      • mmullen@nixonpeabody.com
      Matthew W. Mullen
    • Roger W. Holmes

      Partner
      • Boston
      • Office:617.345.1227
      • rholmes@nixonpeabody.com
      Roger W. Holmes
    • Elizabeth A. Young

      Partner
      • Washington DC
      • Office:202.585.8294
      • eyoung@nixonpeabody.com
      Elizabeth A. Young
    • Gregory N. Doran

      Partner / Strategic Impact Partner
      • Washington DC
      • Office:202.585.8266
      • gdoran@nixonpeabody.com
      Gregory N. Doran
    • Nicole V. Hixon

      Associate
      • Boston
      • Office:617.345.6120
      • nhixon@nixonpeabody.com
      Nicole V. Hixon
    • Michael J. Goldman

      Partner
      Chair, Project Finance, Infrastructure & Real Estate Department
      • Washington DC
      • Office:202.585.8289
        Mobile:202.716.4798
      • mjgoldman@nixonpeabody.com
      Michael J. Goldman
    View All

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