NEF Announces $1B in 2020 Affordable Housing Investments
National Equity Fund, Inc. (NEF) recently announced that it made more affordable housing investments in 2020 than at any time in its 33-year history. National Equity Fund, Inc., based in Chicago, is a nonprofit affordable housing investor and one of the nation's largest syndicators of federal Low Income Housing Tax Credits.
According to the NEF, it invested $1.5 billion for the year, including more than $1 billion in equity for LIHTC sites and $420 million in loans to finance affordable housing preservation efforts. Other activity for the 2020 includes Opportunity Zones investments to fuel workforce housing, pre-development loans to help a range of new developments move forward and grants to help housing providers implement health measures to protect their staff and residents against COVID-19. Combined, those efforts are supporting more than 13,240 units of affordable housing nationwide, along with an estimated 16,200 jobs.