LIHTC Fund to Create Nearly 2,000 Affordable Homes

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By: Lisa Brown

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The recent closing of the Enterprise Housing Partners Fund XXXIV (EHP 34) is a nearly $200 million multi-investor Low-Income Housing Tax Credit fund, according to Enterprise Housing Credit Investments. The fund comprises seven investors and will support the creation of 1,794 affordable homes across 14 properties in 10 states. EHP 34 is the first of four multi-investor funds planned by EHCI this year.

EHP 34 investors include major national and regional banks, most of which are repeat investors with Enterprise. The 14 properties in the fund are located in California, Connecticut, Florida, Maryland, Massachusetts, New Mexico, New York, Oregon, Texas and Washington.

Two properties of EHP 34 are Agrihood in Santa Clara, CA and The Montage, an affordable housing development to be built in San Antonio. The Montage will comprise five three-story buildings offering 216 new homes, serving residents at or below 60 percent of AMI.

Kittle Property Group is partnering with the Housing Authority of Bexar County to develop this property. Both developments are expected to completed and available for residents in spring 2023.