Affordable Housing

Affordable housing transactions are among the most legally complex in commercial real estate. They typically involve layered financing from multiple public and private sources, regulatory agreements that govern the property for decades, and a participant structure that includes sponsors, investors, lenders, public agencies, and syndicators — each with their own requirements and closing deliverables.

Snow LLP advises sponsors, developers, and other participants in affordable and mixed-income housing transactions, including new construction, rehabilitation, preservation, and recapitalization projects. The practice has experience with the transaction structures, program requirements, and financing documentation common to this work.

Transaction Considerations

Affordable housing transactions require coordination across a financing stack that often includes a tax credit equity investor, a construction and permanent lender, one or more public agency lenders, and subordinate soft debt providers. Each source has its own closing requirements, regulatory conditions, and approval processes. Snow LLP works with sponsors and their transaction teams to manage these requirements efficiently and maintain the closing schedule.