Affordable Housing

Overview

“ Honigman's experience with HUD and MSHDA financing and their firm grasp of the Federal low-income housing tax credit program has made them our go-to firm for our national affordable housing development business.  ”

Bryan J. Shumway
Wishcamper Companies, Inc., Portland, Maine

Honigman’s Affordable Housing Practice Group attorneys have been involved in nearly every major federal and state affordable housing initiative during the last 50 years. Nationally, in addition to representing developers, we have also assisted Fannie Mae, Freddie Mac and HUD lenders in financing affordable housing throughout the United States. Locally, we have been instrumental in developing financing, equity infrastructure and legal frameworks for many affordable housing programs.

In addition to lenders, our clients include for-profit and nonprofit developers of affordable housing developments utilizing government-assisted financing and equity syndications; contractors; property management companies; owners and operators of affordable multifamily projects. We help our clients understand the programs, succeed with regulators, and negotiate and close deals.

With decades of affordable housing experience, Honigman's attorneys are leading practitioners skilled in unraveling the intricate legal challenges that arise in local, state and federal affordable housing transactions. We provide practical, comprehensive solutions for nearly all aspects of affordable housing.

Honigman’s Affordable Housing attorneys work with a wide range of issues relating to new construction and the preservation of existing affordable housing, including:

  • Section 8 contract expiration, renewal and opting-out
  • Mortgage restructuring, including working with HUD’s PPC program
  • Section 236 decoupling
  • Acquisition and rehabilitation of existing affordable housing developments
  • Prepayment and preservation of non-profit owned 202 housing developments
  • Public housing privatization under both the HOPE VI and RAD programs
  • HUD and state regulatory compliance both with respect to tax credit compliance and otherwise
  • Syndication of Low-Income Housing and Historic Tax Credits
  • Defaults, foreclosures and property disposition
  • Housing-related litigation and enforcement
  • Tax-exempt bond and other financing
  • Fair housing
  • Design and construction
  • Related state law issues
  • Dispute resolution, prepayment lockouts, etc.
  • Real estate tax appeals
  • PILOT Programs

We help clients acquire, structure, develop, finance, manage and dispose of affordable housing developments involving, among other sources, funds provided by programs of the U.S. Department of Housing and Urban Development, the U.S. Department of Agriculture, Rural Housing Service,  State Housing Development Authorities, Fannie Mae, Freddie Mac and the Community Development Trust. 

As the need for affordable housing continues to grow and programs come and go, few law firms are better positioned to achieve successful results in moving affordable housing transactions forward. Our attorneys include many of the field's leading practitioners. We are able to assist clients in a comprehensive and efficient manner.

Representative Matters

  • Represent Detroit-based Bedrock entities in various real estate transactions, including the acquisition, leasing and development of affordable housing projects
  • Represented Churchill Stateside Group, a real estate financial services company, in a $4.63 million affordable housing transaction in six communities throughout the state of Washington
  • Represented developer in the acquisition and renovation of a two-phase former public housing project located in North Carolina, including its qualification as an historic structure, with funds provided by a combination of two series of tax-exempt financing, the syndication of federal low income housing tax credits and federal and state historic credits and the conversion of HUD’s operating funds to project-based Section 8 subsidies under HUD’s Rental Assistance Demonstration Program

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