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MacArthur Foundation Program Preserves Affordable Homes

12/14/2010

The John D. and Catherine T. MacArthur Foundation, which is providing a $20 million guaranty in connection with this new effort, aims to attract $100 million for non-profit developers working to preserve and renovate approximately 20 rental properties nationwide serving more than 2,000 low-income residents. As part of the public-private partnership, The National Affordable Housing Trust (NAHT) and Cornerstone Real Estate Advisers LLC jointly closed an investment fund through the federal Low-Income Housing Tax Credit, a program that provides incentives for private investment in developments serving low-income renters.

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