Housing Those Most in Need
Hunt Capital Partners has a dedicated track record of working to provide housing for special communities, such as survivors of domestic and sexual violence, homeless veterans, the mentally ill and people living with HIV/AIDS.
State housing agencies overseeing the LIHTC program have the discretion to adopt plans and policies that address the specific needs of communities most at risk. We have experience navigating the ever-changing Qualified Allocation Process (QAP) and advise developers on how to create projects that will have the most positive impact in the communities they serve.
One recent example is the work Hunt Capital Partners performed in Jacksonville, FL, for the development of Sulzbacher Village, a 70-unit community for formerly homeless single women, female veterans and families. HCP facilitated an equity investment into the development through $9.2 million in 9% federal LIHTCs and $3.5 million in State Apartment Incentive Loan funds.
The new development offers 70 studio, one-, and two-bedroom apartments restricted to women and families that earn up to 33% and 60% of the area median income. The project also provides 36 women and family short-term stay units, 10 respite units for women recently released from local hospitals who need follow-up care, and eight units for homeless veteran women. Sulzbacher Village eliminates the need for 200 shelter beds in the Jacksonville community.
Through the Historic Tax Credit (HTC) programs, we help developers rehabilitate, revitalize and reuse historic buildings.
HCP has been a market leader in partnering with housing authorities to upgrade their housing portfolio under RAD.
The low-income housing tax credit is the most important tool for creating affordable housing in the U.S. today.