Hunt Capital Partners Raises $193.5 Million Tax Credit Equity Package to Build Affordable Housing Nationwide

Published 8 hours ago via Business Wire

Hunt Capital Partners (HCP) announced the closing of its $193.5 million low-income housing tax credit (LIHTC) equity fund, Hunt Capital Partners Tax Credit Fund 51 (HCPTCF 51). The fund will invest in 16 communities nationwide, creating 1,291 affordable homes for low-income families and the unhoused. The developments will include set-asides, dedicating quality housing options for special needs populations such as veterans, individuals with disabilities, those struggling with substance abuse, people living with HIV/AIDS, and youth aging out of foster care. HCPTCF 51 represents the largest multi-investor fund that HCP has closed to date.

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In collaboration with both for-profit and non-profit development partners – 78% of which are repeat developers – HCPTCF 51 will initiate a range of new construction, acquisition/rehab, and historic rehab projects, adding 778 homes to the country’s affordable housing stock while preserving the affordability of 513 homes. The homes will be available to tenants who make income levels between 30%-70% of the Area Median Income (AMI), as well as utilize various rental subsidies such as Project-based Vouchers, Section 8, Section 811, and Annual Contribution Contracts to ensure that even the lowest income renters can afford housing.

One notable project, The Vineyards at Cabot Phase II, will deliver critically needed affordable housing to residents in Cabot, Arkansas, an area where households working at the minimum wage of $11.00 per hour need to work a total of 57 hours each week to afford a 1-bedroon market rate apartment. The Vineyards at Cabot Phase II will introduce affordable housing for 48 families who earn up to 30%, 40%, 50%, and 60% of the AMI. Residents at the property will benefit from rent savings of up to 67% compared to market rents, offering housing security and the flexibility for families to spend on other vital needs such as healthcare, education, and food.

"Hunt Capital Partners is committed to supporting families and seniors nationwide by creating safe, affordable housing with our developer and investor partners. We are grateful for the three new developers and four new investors who joined us this year, as well as the city and state organizations that provided vital support to bridge financing gaps," said Hunt Capital Partners Chief Operating Officer Amy Dickerson. "Public-private partnerships like these are crucial to advance the availability of affordable housing for those in need. The patience and tenacity required to solve capital stack challenges has been evident throughout this year and we couldn’t be more appreciative for all who work to find the solutions.”

More than half of the projects will offer an array of resident services that provide enrichment through several educational activities and are reflective of the tenancy’s unique needs. Mercy Village, developed by Carrfour Supportive Housing Inc., a Miami-based MWBE and leading nonprofit provider of affordable housing, will provide 59 units of permanent supportive housing for low-income families and the unhoused in Ocala, Florida. Residents will have access to free, on-site services that are recovery-oriented and rooted in best practices such as Housing First and Trauma-Informed Care. Services include hands-on employment search, placement assistance, job interview techniques, budgeting classes, mental health and medical services, and recovery support.

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 $3.8 billion in tax credit equity in over 50 proprietary and multi-investor funds. HCP manages over 800 project partnerships representing over 80,000 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.

The fund will invest in 16 communities nationwide, creating 1,291 affordable homes for low-income families and the unhoused.

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