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Industry-leading conferences focused on affordable housing, tax credits, and more.
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Stephen Wallace is one of the nation’s foremost authorities on the preservation of government-assisted housing. He has been very closely involved in the legislative and regulatory development of the various federal affordable housing preservation programs over the past 30 years. Steve is also an adjunct professor at Georgetown Law School where he teaches a seminar course on affordable housing.
Much of my work involves helping clients refinance, rehab and preserve affordable housing properties to increase value and long-term viability. There are a variety of mechanisms that can be used to do this, from mark-up-to-market of Section 8 contracts to Section 236 IRP decouplings (and now re-decouplings) to HUD’s signature initiative, the Rental Assistance Demonstration program. I was part of the successful effort to have HUD approve post-rehab rents effective at loan closing for certain types of financing. Owners and purchasers of older HUD-assisted properties seek my advice on addressing complex transactional and regulatory matters.
I’m in close contact with HUD officials as we work together to decipher the fine print of affordable housing legislation to preserve affordable housing properties. Often these issues take me to Capitol Hill or state housing agencies to seek clarification or resolution of critical preservation issues.
Speaking and networking at industry events and educating developers, managers and investors is also a priority for me. I enjoy connecting with others who are passionate about the affordable housing industry and meeting new entrants to the market.
The political polarization on Capitol Hill is making everything more difficult, including funding for affordable housing. We’re working closely with our clients, trade associations, HUD and Capitol Hill to ensure that affordable housing preservation remains a priority.
Affordable Housing & Real Estate deputy practice leader and strategic policy advisor Deborah VanAmerongen of Los Angeles, partners Nate Cushman of Washington, DC and Kathie Soroka of New York City, senior counsel Steve Wallace of Washington, DC, and counsel Rebecca Simon of Washington, DC and Anthony Ruvolo of San Francisco contributed this article, which covers HUD guidance on budget-based rent adjustments for mark-to-market portfolios.
Washington, DC Affordable Housing & Real Estate senior counsel Steve Wallace and counsel Anthony Ruvolo contributed this article highlighting the latest guidance issued by the US Department of Housing and Urban Development on budget-based rent adjustment opportunities for Mark-to-Market portfolios as authorized in the 2023 Appropriations Act. The article is based on a client alert co-authored by Steve and Anthony as well as Strategic Policy Advisor and AHRE deputy practice leader Deborah VanAmerongen, New York City partner Kathie Soroka, and Washington, DC partner Nate Cushman and counsel Rebecca Simon, all of the AHRE practice.
This article on WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
This article on WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area, mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
This article, which covers WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area, mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
Washington, DC Affordable Housing & Real Estate partner Steve Wallace and counsel Anthony Ruvolo co-wrote this article discussing a provision of the Consolidated Appropriations Act of 2023 that provides relief for Section 8 mark-to-market property owners.
District of Columbia
New York
Hofstra University School of Law, J.D.
Fordham University, B.A.
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