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Low Income Housing Tax Credits (LIHTC)PRG and its principals have been at the forefront of innovation in the affordable housing industry for over 25 years, including creating the first public fund and the first insured fund for investments in LIHTC properties. Our principals were also among the first to invest in tax credit properties at the program's inception in 1987 and have invested in more than 100,000 rental units in 48 states and Puerto Rico.
Investment and Syndication PRG is an accomplished LIHTC syndicator, with seven tax credit funds created to finance the development of properties to serve the needs of low-income individuals and families across the U.S. and Puerto Rico. PRG’s funds have financed more than $270 million in affordable housing development nationwide. We excel in complex property transactions that volume-oriented or less experienced investors may not address. These include properties with multiple layers of subsidy and use restrictions, special needs properties with unique populations and deep rent skewing, and troubled or defaulted properties requiring loan restructuring. We provide equity financing solutions to facilitate physical rehabilitation and marketing so these properties can continue to provide housing to low-income households at affordable rates.
Development and Operations PRG leverages its extensive LIHTC experience to directly or joint-venture develop new affordable housing, acquire and rehabilitate existing properties, and operate those properties successfully. We currently serve as the developer and operator of nine LIHTC properties totaling nearly 900 units across the U.S. While we consider a wide range of LIHTC development and acquisition opportunities nationwide, typical investment criteria include the following:
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