Boston Financial closed over $1 billion in new equity for the third year in a row in 2023, and we couldn’t have done it without such strong and committed investor and developer partners.
We closed over $1 billion in low-income housing tax credit (LIHTC) equity, leading to 5,837 affordable rental homes in 58 communities, 9,711 jobs created and over $1.1 billion in local wages and business income. 32% of the developers we worked with are nonprofits.
2023 was also a big year beyond our LIHTC work. We continued working on our $200MM Preservation Fund and closed $64MM in affordable housing preservation equity in 2023, representing 860 affordable rental homes. We also closed $44MM in loans to support affordable housing.
As of today, there are nearly 164,000 affordable homes in our portfolio, housing almost half a million people.
Thank you to all of our investors, developer partners, team members, government representatives and community members who have made our work possible, and who continue to help us realize our vision of a future where everyone has a home, one investment at a time.