Ground-up affordable multifamily, Executive Directive 1 (ED1), 4% and 9% LIHTC, tax-exempt bond financing, non-profit GP welfare exemption structures, and every California gap program in the stack. Closed by a broker who lives in the capital markets. Not one who's learning the space on your deal.
Affordable housing capital stacks layer construction debt, LIHTC equity, tax-exempt bonds, state and local soft financing, and non-profit GP structures. Often four to six sources on a single deal. We run the capital process for each, end to end.
Ministerial, expedited approval for 100% affordable housing in the City of LA. Density bonuses, CEQA exemption, parking flexibility. We structure the construction loan and permanent take-out around the ED1 timeline.
Non-competitive tax credit available with tax-exempt private activity bond financing. Fixed 4% floor since 2021. The primary vehicle for deals $20M+ in California.
Competitive allocation through state HFA scoring rounds (TCAC in California). Delivers deeper equity but requires a winning scoring profile and tolerance for the allocation calendar.
California's stack of state soft-debt programs for homeless housing, permanent supportive housing, transit-oriented development, and general affordable. We coordinate timing across multiple allocation cycles.
California R&T §214 property tax exemption when a qualifying non-profit is the managing GP. Frequently adds $150K-$300K/yr in NOI on mid-size deals. Materially changing debt sizing.
Statewide ministerial approval pathways. AB 2011 opens office and commercial sites for housing conversion; SB 35 and Builder's Remedy bypass discretionary review in non-compliant jurisdictions.
HUD-insured construction-to-permanent and permanent refinance for affordable and workforce multifamily. Long amortization, high leverage, non-recourse. But a specialized and time-consuming process.
Community Development Financial Institutions and mission-focused banks that understand non-profit GP structures, welfare exemption, and multi-source stacks when mainstream lenders don't. Often the right construction partner.
Life insurance company affordable platforms and Fannie Mae MAH / Freddie Mac TAH products for the permanent take-out on LIHTC and workforce deals. Competitive long-term fixed rates.
Selected affordable housing and ground-up EDI transactions. All case studies are anonymized per privacy policy, borrower identities withheld, lenders described by type only, city-level geography.
9% LIHTC + city soft loans + HHAP layered into a ground-up small-lot affordable development under ED1 expedited approval.
Read case study →4% LIHTC + HOME + city soft financing stacked for a ground-up family housing development under ED1.
Read case study →Mission-focused CDFI construction loan paired with 4% LIHTC and state HFA soft debt for a ground-up ED1 site.
Read case study →Tax-exempt bond proceeds plus 4% credit equity plus state/local soft debt, a four-way underwriting conversation run to one closing.
Read case study →Acquisition-rehab under a 501(c)(3) GP structure, life company with affordable platform built welfare exemption savings into DSCR, unlocking 20%+ more proceeds than competing banks.
Read case study →HHAP gap financing subsidizing the deeply affordable component so market-rate and conventional construction debt could pencil on the rest of the stack.
Read case study →Long-form guides for developers, investors, and capital partners, written by a broker who closes these deals, not a content marketer.
Eligibility, incentives, capital stack, realistic timelines, and the lenders who actually close ED1 deals, the single biggest accelerant of affordable housing production in LA in a generation.
Read guide →How the welfare exemption actually works, which lenders credit the savings in underwriting, and how for-profit developers partner with non-profit GPs without losing control of the economics.
Read guide →A broker's perspective on the choice, deal size, scoring competitiveness, timing, gap financing, lender preferences. Often the right answer is the opposite of what the sponsor walked in expecting.
Read guide →LAHD funding, entitlement bonuses, prevailing wage realities, AMI tiers, and per-unit cost benchmarks for the LA County market.
Read guide →4% vs 9% credit mechanics, syndicator dynamics, investor pricing, and the 30-year compliance period, the primer for anyone new to the space.
Read guide →Construction costs, rate environment, entitlement timelines, density bonuses, and SB 35 streamlining for new multifamily development in LA.
Read guide →How AB 2011 opens commercial and office parcels for ministerial housing approval statewide, and what the capital stack looks like when the site wasn't zoned for housing yesterday.
Read guide →A broker's field guide to the four state soft-debt programs most California affordable deals need to close. What each funds, how they stack, and how to time allocation rounds.
Read guide →How to structure the construction-to-permanent conversion on LIHTC deals so the permanent take-out is locked in before construction closes. Sequencing, lender types, and common failures.
Read guide →The three HUD/FHA multifamily programs that matter for affordable and workforce housing. When each fits, realistic timelines, and execution pitfalls.
Read guide →How Community Benefits Agreements shape affordable housing deal economics, and which mission-driven capital sources underwrite them favorably.
Read guide →The CDFIs and mission-focused banks that close affordable housing deals when mainstream lenders can't. What they do well, where they sit in the stack, and how to position your deal.
Read guide →How community land trusts and ground-lease structures shape affordable housing deal economics. Lender reception, capital stack implications, and financing deals where a non-profit owns the land in perpetuity.
Read guide →Local capital stack, regulatory context, and lender commentary for the six California metros where most affordable housing capital deploys. Each page is specific to the metro and the financing program.
Submit an LA site APN or address and receive a detailed ED1 eligibility report within 24 hours. Max unit count estimate, typical capital stack for your deal size, state soft debt matching, lender ecosystem recommendations. Free, no obligation.
4% LIHTC + bonds, 9% LIHTC, non-profit GP acquisition, HHAP gap financing, HUD 221(d)(4) anywhere in the country. Send us the deal and we will come back with the lenders who close this type of transaction.