Patrice J. Harris

My focus

Developers

I represent for-profit and nonprofit developers acquiring federally and state assisted multifamily rental housing properties. I also work with owners who are refinancing and recapitalizing their multifamily assets for long-term preservation with tax-exempt bonds; tax credits; various forms of federal, state and local soft debt and grants; and Section 8 rent increases. I recently assisted a developer in acquiring and redeveloping a Section 236 property, which included syndicating low-income housing tax credits and converting an existing Rent Supplement contract and enhanced vouchers to project-based vouchers.

Government

I have strong connections in the affordable housing finance industry that are valuable to developers and local government entities. For example, I represented a governmental entity that planned to ground lease some land to a developer to build a new affordable development in an affluent community. The negotiated ground lease, finalized through public rulemaking, conflicted with FHA lease requirements, but we were able to get HUD to make substantial concessions to allow the transaction to move forward.

Mission-oriented Organizations

I also have a passion for mission-oriented organizations! Some of my favorite transactions have been working with nonprofit clients to provide decent, safe and affordable housing for society’s most vulnerable, including the homeless and the elderly.

Looking ahead

With the increased squeeze on funding, we’re constantly looking for new, creative ways to leverage public and private resources to address the continuing and growing need for affordable housing.

Presentations

• “Holistic Development in Overlooked Areas,” Bisnow DC Metro Affordable Housing Summit, Washington, DC, March 20, 2019
• “Federal Housing Administration Multi-Family Housing Transactions,” Lawline CLE webinar, June 13, 2014