National Equity Fund's mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. We strive to be diverse, equitable and an inclusive place to work so that our team has the experience and knowledge to effectively support our partners and communities.
Our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them to reach their full potential.
Enacted in 1986, the federal low-income housing tax credit (LIHTC) was created to advance the production and preservation of affordable housing. Each state allocates LIHTC to qualified affordable housing developers who then sell them to an investor, or to a tax-credit syndication fund made up of equity from one or from many investors. In return, the investors receive a credit against their federal income tax based on the size of their investments.LEARN MORE
NEF’s pre-development lending team provides critical early financing to assist our partners in developing affordable housing. Targeted pre-development funds cover a variety of development expenses, from professional fees to acquisition, including the costs of tasks that need to be completed before construction closing.LEARN MORE
NEF offers specialized financing solutions targeted to working individuals and families in the "missing middle" who are not income-eligible for LIHTC properties but struggle to find affordable housing options in neighborhoods close to job opportunities.LEARN MORE
NEF's experienced Preservation Lending team provides financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase.LEARN MORE
NEF has been a pioneer in permanent supportive housing since the very first days of LIHTC. Our supportive housing leaders are advocates for the most vulnerable individuals and families, experts in the planning and operation that goes into these developments and knowledgeable about government programs and policies that can help families and individuals to thrive.LEARN MORE
NEF's Emerging Minority Developer Fund (EMDF) was designed to create access to equity capital resources to facilitate accelerated development capacity and wealth creation for Black, Indigenous and People of Color (BIPOC) developers who have not had proportionate and consistent access to LIHTC. With our investor partners, we have committed capital for the Fund well exceeding our original $100 million target.LEARN MORE
"Focusing on that 'missing middle,' where you don't have the huge federal subsidy, like LIHTC, to really support the development of affordable housing, aligned perfectly with our mission to develop creative solutions to expand the creation and preservation of affordable housing," says Daryl Shore, Head of Structured Financing at NEF, in the Mixed-Income Developments section of the June issue of Tax Credit Advisor magazine.Read More
“It’s tough to compete against developers with deep pockets and are not mission-driven. Affordable housing developers can now confidently consider opportunities knowing they have the financial muscle to execute rapidly, too,” Daryl Shore says in "A Powerful New Equalizer for Affordable Housing Developers" in Affordable Housing Finance.
NEF is proud to offer congratulations to our partners at Jamboree Housing Corporation on their creative solution to substantially rehabilitate a run-down motel into the Ascent apartments in Buena Park, CA!
The Ascent apartments provides 57 units of affordable housing for people who have recently been unhoused and households earning no more than 50% of the Area Median Income (AMI). Twenty-eight units are reserved for residents with mental health diagnoses.Read More
The NEF team had a wonderful time at the St. Catherine De Vigri Villas dedication ceremony last week! We were thrilled to join our partners at Catholic Charities Housing Services, elected officials and the Tieton community to celebrate this incredible development. NEF's Tony Daguanno, Lisa Decker and Rodney Pruitt attended the event in support.Read More
Our colleagues were honored to celebrate the incredible leaders and award winners at the 13th Annual Leadership Celebration hosted by VOA Illinois last week! These leaders dedicated their time and services to Veterans, people struggling with homelessness, families living in poverty, seniors, and adults with disabilities.Read More
Congratulations to our partners at RiseBoro Community Partnership on the groundbreaking at Bethany Senior Terraces in Brooklyn! We're excited to witness the development of this modular, Passive House building, which will provide 58 affordable housing units dedicated to low-income seniors. Bethan Senior Terraces will bring stable housing and energy efficiency together for the benefit of the community and city at large.Read More
Congratulations to our partners at Resource Center on the groundbreaking of Oak Lawn Place in Dallas!
Resource Center is an organization focused on societal equity, advocacy and transformative education for members of the #LGBTQ+ community and their families. To meet the growing demand for #affordablehousing and care services for an aging LGBTQ+ population, Resource Center worked with Matthews Southwest on the planning and development of Oak Lawn Place, which will bring 84 units of high-quality senior housing to the area.Read More
Congratulations to our partners at the Northern Lights Development (Aurora Housing Authority) and Hope Bound Development Corporation (Housing Authority of Joliet) on the groundbreaking at 1449 Senior Estates in Aurora, IL! This will be the first new subdivision built in Aurora in nearly 50 years — how exciting!Read More
Congratulations to our partners at the Housing Authority of Cook County on the groundbreaking at Otto Veterans Square in Chicago Heights, IL! This will be the first new construction to result from the Downtown/East Side Choice Neighborhoods Plan. Otto Veterans Square will provide 82 apartments to Veterans and households earning 50% or less than the Area Median Income (AMI). All units will receive Project-Based Voucher assistance from the Housing Authority.Read More
Congratulations to our partners at Hawaii Island Community Development Corporation (HICDC) on the groundbreaking at Kaloko Heights in Kailua Kona, HI! This development is expected to be completed in Fall 2024 and will provide 99 units of affordable housing for families in need and one manager's unit. With the costs of living and housing rapidly rising, families on Kona are at risk for displacement and being unhoused.Read More
National Equity Fund announced a new structure for senior leadership roles to further support its mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. Driven by the growth of newer capabilities such as Preservation Debt and Equity and GSE Lending combined with an increasingly complex investor market for Low-Income Housing Tax Credits (LIHTC), NEF president and CEO, Matt Reilein, made the announcement to expand and create new leadership roles with existing employees. This new structure will streamline and optimize how NEF will serve its sponsor and investor clients in support of its mission.Read More
Congratulations to our partners at Walla Walla Housing Authority (WWHA) on the grand opening of Evergreen Commons in Walla Walla, WA! Representatives from Banner Bank and NEF's Tony Daguanno attended the event.
This 29-unit development is a 3-story, new-construction property located in the Eastgate neighborhood and consists of 9 one-bedroom and 20 two-bedroom apartments. All units are affordable, targeting households at or below 30-60% AMI and provide permanent supportive housing for individuals and families at risk of homelessness. Additionally, at least 6 units are set aside for persons with chronic mental illness...Read More
We are excited to announce that, for the third year in a row, NEF has been named one of Chicago’s Best and Brightest Companies to Work For® in 2023! The Best and Brightest award identifies and honors organizations that display a commitment to excellence in their human resource practices and employee enrichment.Read More
Last week, NEF colleagues Kimberly Stephenson and Debbie Burkart attended The Taste of Home Festival in Los Angeles to raise money for our partners at PATH. The festival/fundraiser is an opportunity to help end homelessness while enjoying delicious cuisine, signature cocktails, live music, chef demos, and fun activations. More than 30 local food and beverage vendors attended the event. Since 1984, PATH has been on a mission to end homelessness through affordable and permanent supportive housing that empowers vulnerable populations to grow and thrive.Read More
Last week, our very own Rachel Rhodes joined BuzzHouse: A Baker Tilly US Podcast to chat about the ever-evolving trends in LIHTC, the Inflation Reduction Act, NEF's expanding capabilities and more. This is a great episode for developers and investors looking to learn more about what's buzzing in the industry.Read More
Congratulations to our partners at Full Circle Communities, Inc and Christian Community Health Center (CCHC) on the grand opening of Torrence Place in Lansing, IL!
This new 48-unit affordable housing development provides homes to Veterans and persons with disabilities. Torrence Place also features a 3,600 sq. ft. health clinic operated by CCHC that is dedicated to serving both residents and Lansing community members.Read More
Congratulations to our partners at Alliance Housing, Inc. on the grand opening of 3301 Nicollet Ave in Minneapolis last week! From a vacant commercial storefront that the developer demolished years prior, this building brings sorely needed 64 affordable housing units to the Lyndale neighborhood.Read More
Congratulations to our very own Jaclyn Jackson, SVP and Chief Human Resources Officer, on being named one of 100 Women to KNOW Across America in 2023! We are thrilled and immensely proud of Jackie's recognition as one of the "most influential, achieved, and honorable women in our society."Read More
Congratulations to our partners at Excelerate Housing Group and HopeCooperative on breaking ground at Northview Pointe in Sacramento!
The organizations are working together to develop this two-story building with 66 units of affordable and supportive housing for people experiencing chronic homelessness.Read More
"NEF provides more than just competitive tax credit pricing and great service. They are truly committed to their partners. When I launched Excelerate Housing Group, a woman-owned development firm, they not only provided encouragement but when our team closed our first deal, they really stepped up to make the project work."
"NEF has been a trusted partner and shares our mission of helping those in need of safe, quality affordable housing. They earn our repeat business through competitive tax credit pricing, strong asset management and smooth Year 15 exits. It’s why we have partnered together on more than 17 tax credit deals over the past two decades."
"New Hope Housing has the good fortune to connect with National Equity Fund in 2008 when we embarked on our first LIHTC development. One factor that sets them apart is the staff. The people and their commitment to their partners exceeded any expectations I had."
Native American Connections (NAC) began its partnership with National Equity Fund in 2010 during a challenging economic time. Arizona had one of the highest foreclosure rates and banks and investors were nervous about investing in Phoenix, “but, NEF took the time to learn about NAC’s 40-year history of serving the community, our impact, and our sustainability,” stated Diana Yazzie Devine, CEO of NAC.
2022 marks the 50th anniversary of NAC’s service to the homeless and low-income community, and NEF maintains its lasting relationship as NAC continues to develop award-winning affordable housing communities that are on the leading edge of urban and sustainable development through public and private partnerships. “Currently, Phoenix has one of the highest inflation rates, and some of the highest rental rates along with the lowest affordable housing inventory in the country,” observes Devine and adds, “we are right back in challenging economic times.”
Since the collaboration began, NEF continues to be a vital partner in helping NAC to consistently add hundreds of units of permanent supportive housing for chronically homeless and low-income individuals and families.
NEF supports NAC’s strategies of building along Phoenix’s light rail system and other transportation corridors, selecting urban infill sites that are challenging to the city to increase its density, reducing unnecessary parking, building green and ensuring that residents have access to much-needed supportive services. Devine concludes, “NEF understands NAC’s commitment to provide quality supportive services for residents. Together we invest to better the quality of the lives of people we serve.”