LOS ANGELES, Nov. 29, 2023 – Hunt Capital Partners (HCP) is pleased to announce the closing of its $135 million nationwide low-income housing tax credit (LIHTC) fund, Hunt Capital Partners Tax Credit Fund 49 (HCPTCF 49). HCPTCF 49 will direct tax credit equity to facilitate affordable housing from coast to coast, helping finance 13 developments in 11 states. Led by teams comprised of non-profit, for-profit, and local housing authority development partners, the fund will create or preserve 1,083 affordable homes for families, seniors, and tribal communities.

The fund allocates 13% to develop tribal housing in two states, bringing increased housing opportunities for tribal members. One such example is Victories Square, the new construction of a five-story building in Petoskey, MI, which will house 50 family households of The Little Traverse Bay Bands of Odawa Indians and is a part of a larger, mixed-use community development plan that includes high-profile commercial, retail, and restaurants.

“We are deeply grateful for the invaluable partnership and collaboration with our investor and developer partners,” said HCP Investor Relations Managing Director Amy Dickerson. “Their commitment, resilience, and resourcefulness have been instrumental in ensuring that countless households have a stable place to call home, particularly during a time where rising rents are outpacing income growth. We are also appreciative for all the state, county, and city programs that have generously allocated additional credits and identified new sources of funding to bridge the financing gaps that have emerged in recent years.”

Rents for apartment homes in the fund are on average 30.3% below comparable market rate units, with some developments offering as much as an 81% rent advantage to market, enabling residents to grow and thrive in healthy communities through the support of transitional and permanent housing programs and services. All developments feature Energy Star appliances with some featuring water conserving fixtures and others using renewable energy through solar photovoltaic (PV) systems. Several developments also include resiliency features to withstand unexpected events such as water intrusion and strong winds.

A majority of projects within the fund will offer on-site services aimed to bolster support for the overall health and wellbeing of residents. For example, 62% of all developments will provide a range of resident services tailored to address the unique needs of residents. Toward that end, HCP is once again working with non-profit developer, Gulf Coast Housing Partnership, on the rehabilitation and preservation of affordable housing of Leonard Court, a historic scattered-site family development in Jackson, MS. Leonard Court will introduce a renewed housing option for 67 families earning up to 30%, 50%, and 60% of the area median income (AMI), while also delivering supportive resident services in fundamental areas that includes, but is not limited to, children’s development, personal budgeting, and counseling.

In addition to HCPTCF 49, HCP has created or expanded five proprietary funds since January 2023. Since inception in 2010, HCP has closed over $3.3 billion in tax credit equity through its multi-investor and proprietary funds.

Environmental Social and Corporate Governance (“ESG”) Investing

Hunt Capital Partners recognizes that its institutional investors are seeking to increase the social value of their investments to help further their ESG initiatives. Investment in affordable housing not only improves the living conditions of its residents, but it also helps to remove obstacles that stand in the way of creating a healthy, safe and stable home environment for low-income families and seniors. When families spend less on housing related expenses, they have more resources available for other essentials such as food and clothing, or even extracurricular activities and educational programs. One of the most significant benefits to providing quality affordable housing is an increase in an individual’s physical and mental health. Hunt Capital Partners’ affordable housing investments create a lasting effect on the people and communities they serve for generations to come.

About Hunt Capital Partners

Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $3.3 billion in tax credit equity in over 48 proprietary and multi-investor funds. HCP manages almost 760 project partnerships representing over 75,000 homes in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.