Novogradac & Company LLP Announces the Novogradac Journal of Tax Credits 2016 Developments of Distinction Award Winners

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Novogradac Will Honor Affordable Housing Developments at the Novogradac 2016 Tax Credit Housing Developers Conference

The Novogradac Journal of Tax Credits today announced the winners of the 2016 Developments of Distinction Awards, which recognize exceptional 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. Winning properties and their development teams will be honored in a ceremony Jan. 7, 2016 at the Novogradac 2016 Tax Credit Housing Developers Conference in Miami Beach, Fla.

“Congratulations to the winners of this year’s Developments of Distinction Awards,” said Susan Wilson, conference chairwoman and partner in Novogradac’s Austin, Texas, office. “Their outstanding work demonstrates why the low-income housing tax credit is one of the most important tools for creating and preserving affordable housing.”

Developments of Distinction Awards winners and honorable mentions were recognized in four categories:

LIHTC Development that Best Exemplifies Major Community Impact

  •     Winner: New Hope Housing at Rittenhouse o Developer: New Hope Housing Inc. o Owner: New Hope Housing Inc.

o Location: Houston

  •     Honorable Mention: Gardens at San Juan Square

o Developer: The NRP Group
o Owner: San Juan III LTD
o Location: San Antonio

  •     Honorable Mention: Monsenor Romero Apartments

o Developer: National Housing Trust – Enterprise Preservation Corporation
o Owner: 3145 Mount Pleasant Street L.P.
o Location: Washington, D.C.

LIHTC Development that Best Reflects Market Success in Overcoming Significant
Obstacles

  •     Winner: Mary Harvin Center

o Developer: The Woda Group Inc.
o Owner: Mary Harvin Center LP
o Location: Baltimore, Md.

  •     Honorable Mention: Lamar Station Crossing

o Developer: Metro West Housing Solutions
o Owner: Metro West Housing Solutions
o Location: Lakewood, Colo.

LIHTC Development that Best Demonstrates Financial Innovation

  •     Winner: Randall Lofts

o Developer: RealAmerica Development LLC
o Owner: Randall Lofts LP
o Location: Fort Wayne, Ind.

  •     Honorable Mention: ANC MV Phase 1

o Developer: Alaska Corporation for Affordable Housing (ACAH), V2, Trapline and Cook Inlet Housing Authority
o Owner: Alaska Corporation for Affordable Housing
o Location: Anchorage, Alaska

LIHTC Development that Best Preserves Existing Affordable Rental Housing

  •     Winner: The San Gabriel Portfolio

o Developer: Gung Ho - San Gabriel LP
o Owner: Reliant - San Gabriel LP
o Location: Victorville, Rialto and Lancaster, Calif.

  •     Honorable Mention: Azusa Apartments

o Developer: Community Housing Works
o Owner: East Mountain Housing Associates L.P. c/o Community Housing Works
o Location: Azusa, Calif.

Developments honored were placed in service in 2014 or 2015. More information on the Developments of Distinction Awards can be found at http://www.novoco.com/awards/developments_of_distinction/index.php.

In addition to the Developments of Distinction Awards, the Novogradac Journal of Tax Credits conducts several awards programs that recognize excellence in community development, historic rehabilitation and renewable energy. Nominations for each program are open year-round and more information can be found at http://www.novoco.com/awards/index.php.

The Novogradac Journal of Tax Credits provides news, analysis and commentary on the affordable housing, new markets, renewable energy and historic rehabilitation tax credit industries. This comprehensive monthly publication features columns written by industry experts, Q&As on technical tax credit issues, features about tax credit developments and more,
all informed by Novogradac & Company’s more than 25 years of experience on the front lines of the tax credit industry.

Novogradac began operations in 1989 and has since grown to more than 500 employees and partners with offices in San Francisco, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin, Texas; Portland, Ore.; Naples, Fla.; Raleigh, N.C.; and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle.

Specialty practice areas include tax, audit and consulting services for tax-credit-assisted affordable housing, community revitalization, rehabilitation of historic properties and renewable energy. Other areas of expertise include business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

For more information about the Novogradac Journal of Tax Credits Developments of Distinction Awards, please contact Alexandra Bernard at (415) 356-7627 or by email at Alex.Bernard(at)novoco(dot)com.

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