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Affordable Housing Finance: Boston Financial Closes $290 Million LIHTC Fund

Boston Financial Investment Management (“Boston Financial“) has announced the closing of a $290 million low-income housing tax credit (LIHTC) fund. The fund, Boston Financial Institutional Tax Credits 56 (ITC 56), will finance more than 2,500 affordable housing units across 17 multifamily and six senior developments in 15 states.

“There is a continued need for affordable housing that has been exacerbated by economic factors, including rising inflation and disproportional wage growth, and ITC 56 underscores our firm’s and our clients’ continued commitment to address that need. The capital provided not only fuels the development of safe, quality, affordable housing but also supports and empowers residents in a meaningful way through the wide range of social services delivered. ”

Todd Jones, Senior Vice President and Head of Tax Credit Equity Production