Greystone Affordable Development has closed a $120.5 million transaction — its first in Texas — in collaboration with Hamilton Valley Management.
Utilizing the housing industry’s critical 4 Percent Low Income Housing Tax Credit (LIHTC), which is currently in crisis due to historically low rates, Greystone Affordable Development will redevelop, modernize and secure affordable rental homes for thousands of Texans.
“The rehabilitation of these properties, and the jobs that will be created during the extensive rehabilitation, would not be possible without the housing credit, our nation’s primary tool for financing affordable rental housing,” said Tanya Eastwood, president, Greystone Affordable Development. “Unfortunately, the program is facing significant challenges, threatening the development of affordable housing across the country at a time when it is needed more than ever. We support the immediate enactment of federal policies, such as the Moving Forward
