January 29, 2015
NDC Corporate Equity Fund is honored to have our project highlighted in the February Issue of the Novogradac Journal of Tax Credits. The highlight features NDC CEF project, The Aeolian, which received 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.
See article HERE! The Aeolian Novogradac Journal of Tax Credits