We have been involved in nearly every type of housing transaction. Representative matters include:

  • We represented the New York City Housing Authority (NYCHA) in a six-month race to close one of the largest public-private partnership tax credit bond deals in U.S. history. The transaction provided approximately $400 million in initial public and private funding to modernize more than 20,000 public housing units and $65 million to $75 million a year for operations. Seeking to gain federal funding for the housing, we found a little-known provision in the American Recovery and Reinvestment Act of 2009.

  • The Puerto Rico Public Housing Administration worked with Ballard Spahr's Housing Group to close the largest-ever low-income tax credit transaction, which was valued at more than $600 million and which paved the way for the modernization of thousands of units of public housing and earned "Deal of the Year" recognition from The Bond Buyer.

  • We closed the first Energy Performance Contract financing in the nation, structured in conjunction with acquisition and rehabilitation tax credits and garnering $1.4 million in additional tax credit equity for the Denver Housing Authority.

  • When the Municipal Housing Authority for the City of Yonkers, New York, was given just eight weeks to close on the first phase of a $20 million housing project funded by a HOPE VI Revitalization Grant or lose funding, they turned to us. We overcame a host of financing and tax challenges to meet the deadline and secure the grant for our client.

  • After successfully implementing a complete HOPE VI revitalization of the former Columbia Villa public housing site, the Housing Authority of Portland (HAP) set its sights on building a school and other facilities. We assisted HAP in developing the structure, analyzed the tax ramifications, formed a new nonprofit corporation as the qualified active low-income community business (QALICB) for New Markets Tax Credits, prepared the application for 501(c)(3) status, reviewed lease and option agreements, and prepared loan documents.

  • We assisted Freddie Mac in completing one of the largest multifamily housing bond securitizations in history, a $2.8 billion transaction with Centerline Capital Group using the innovative Freddie Mac Tax-Exempt Bond Securitization (TEBS) execution, which we helped develop.