January 5, 2015
NDC Corporate Equity Fund will attend the Novogradac Tax Credit Developers Conference in Miami, FL this week where our LIHTC project, The Aeolian will receive an honorable mention for the 2014 Development of Distinction Awards. The Development of Distinction Awards were created to recognize excellence and honor outstanding achievement in the development of properties using the low-income housing tax credit (LIHTC), and/or tax credit developments using U.S. Department of Housing and Urban Development (HUD) financing.
The Aeolian Building is a senior housing LIHTC project that combined Low-Income Housing Tax Credits and Historic Tax Credits to renovate an 86 year old historic landmark. The project provides housing for seniors that otherwise would have to leave their community to find an appropriate place to live. The residents benefit from the neighborhood, the proximity to downtown and shopping, and from the various programs hosted by The Aeolian. The project has also created interest from developers and small business owners in the surrounding neighborhood and reinvestment in the community has already begun.
Congratulations to our partners, Brownstone Affordable Housing Ltd. We are honored to have another one of NDC’s projects receive a Novogradac Award!