Novogradac Awards Recognize Excellence in Affordable Housing Development

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LIHTC, HUD Development Teams to be Honored Jan. 11 at Novogradac Conference in Miami

The Novogradac Journal of Tax Credits today announced the recipients of the 2017 Developments of Distinction Awards, which honor outstanding achievement in the development of affordable rental housing using the low-income housing tax credit (LIHTC) and/or tax credit developments using U.S. Department of Housing and Urban Development (HUD) financing in the past year. In addition, an individual winner will be honored for making an impact in the tax credit community. Winners will be honored Jan. 11 at the Novogradac 2018 Tax Credit Developers Conference in Miami.

“The Developments of Distinction Awards are a highlight of the affordable housing year because they show the diversity of uses of the LIHTC and HUD programs to make people’s lives better,” said Susan Wilson, CPA, conference co-chairwoman and a partner in Novogradac & Company’s Austin, Texas, office. “The winners of these awards–and the runners-up–should be proud of what they’ve done.”

Awardees were recognized in seven categories:

Metropolitan Community Impact

  •     Winner: Triborough Preservation in New York City
  •     Honorable mention: Arcade Apartments in Plymouth, Minn.

Rural Community Impact

  •     Winner: Village Centre in Brewer, Maine
  •     Honorable mention: Winnemucca Senior Campus-Larios Arms in Winnemucca, Nev.

Preservation of Existing Affordable Rental Housing

  •     Winner: Stanton Oaks in Atlanta
  •     Honorable mention: Ridge at Trinity Apartments in Dallas

Preservation of Existing Public Housing

  •     Winner: Aeroterra in Phoenix
  •     Honorable mention: Triborough Preservation in New York City

Family Housing

  •     Winner: Rockwood Apartments in Anaheim, Calif.
  •     Honorable mention: Mack Ashland II in Detroit

Special Needs Population

  •     Winner: Inglis Gardens at Belmont in Philadelphia
  •     Honorable mention: Martha’s Vineyard Place in Dallas

Low-Income Housing Tax Credit Champion Award

  •     Winner: James Bowman of the National Affordable Housing Trust

Descriptions of the 2017 Novogradac Journal of Tax Credits Community Development Developments of Distinction Awards winners can be found at http://www.novoco.com/events/awards/2017/developments-distinction-awards. Nominations for the 2018 round are due April 27. In addition, the Novogradac Journal of Tax Credits conducts several award programs that recognize excellence in community development, historic rehabilitation and renewable energy. More information can be found at http://www.novoco.com/events/awards

About Novogradac & Company
Novogradac began operations in 1989 and has since grown to more than 600 employees and partners with offices in San Francisco, San Rafael, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; Austin, Dallas and El Paso, Texas; Toms River and Iselin, N.J.; St. Louis; Boston; New York; Chicago; 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.

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