Community Affordable Housing Equity Corporation
Originally created in 1992 to help finance the development of affordable rental housing in North Carolina, CAHEC is a nonprofit equity provider now operating in eleven southeastern and mid-Atlantic states. Since the company’s founding, CAHEC has raised and committed over $2.2 billion toward the development of over 30,100 units of affordable housing. Its core business is to provide tax credit capital to a variety of low-income housing, preservation, community revitalization, and renewable energy projects.
Cinnaire is guided by an unwavering belief that all people deserve the opportunities provided by living in healthy communities. Since 1993, the organization has invested $4.2 billion toward that goal, resulting in more than $7.3 billion in community impact. A non-profit Community Development Financial Institution (CDFI) certified by the U.S. Department of Treasury, Cinnaire has supported 717 housing developments and 3.3 million square feet of commercial space, provided 101,000 affordable apartment homes and created or retained more than 65,000 jobs. Headquartered in Lansing, MI, with offices in five states, Cinnaire provides access to investment funding, lending options and title services that support community and economic development, creating stable, sustainable and vibrant communities.
Evernorth unites Housing Vermont (HV) and Northern New England Housing Investment Fund (NNEHIF) together as a single nonprofit organization to serve the low and moderate income people of Maine, New Hampshire and Vermont with affordable housing and community investments. With a 30 year track record, Evernorth is deeply knowledgeable of local markets, has close connections with local and regional organizations, and understands the policy and regulatory framework guiding affordable housing and community development across northern New England.
With offices in Portland, Maine and Burlington, Vermont Evernorth builds on the record of achievement of its two stellar nonprofit organizations by bringing together experienced professional staff to raise capital, invest in and build affordable housing, strengthen our economy, and improve our environment through energy efficiency. Over its combined history, Evernorth has raised and deployed over $1B in equity capital for affordable housing and built more than 13,000 affordable homes and apartments for low and moderate income people across northern New England.
Hawaii Housing Finance, LLC, has raised over $269.4 million since 1995. HHF has invested in 36 projects across the four major islands, including Molokai and Lanai. A total of 2,335 new rental units have been created for the residents of the state. In addition to investing in tax credit properties, HHF provides technical assistance and consulting to new developers, and to land owners interested in providing more affordable housing.
Massachusetts Housing Investment Corporation (MHIC) was created in July 1990 to provide financing for affordable housing and community development throughout Massachusetts. MHIC provides acquisition, pre-development, construction, and state tax credit bridge financing for housing projects with at least a 20% affordable component. LIHTC activities are conducted thru its subsidiary, The Massachusetts Housing Equity Fund, Inc. LIHTC activities are concentrated in MA, CT & RI. In 2017 MHIC passed the $1 billion mark in LIHTC syndication. MHIC has been an active CDFI involved in the New Markets Tax Credit (NMTC) program since its inception and has received 12 allocations for a total of $872 million. NMTC investments are made throughout the six New England states. Both MHIC and its lending subsidiary, MHIC LLC, are CDFI members of the Federal Home Loan Bank of Boston. In 28 years of operation, MHIC has provided in excess of $2.6 billion in financing to over 571 projects that created or helped preserve over 22,090 housing units and over 5.2 million square feet of commercial space.
Merritt Community Capital Corporation is a private, nonprofit 501(c)(3) corporation providing equity financing to affordable housing developers throughout California. Since 1989, the corporation has raised more than $804.3 million in capital for affordable housing development. Merritt Capital has created 19 upper tier limited partnerships and numerous direct investments. It is in the process of closing a 20th partnership fund. These funds invest in nine percent and four percent Low Income Housing Tax Credit projects and acquisition with moderate rehabilitation projects. Merritt Capital has provided equity which has resulted in the creation or rehabilitation of over 8,485 units of affordable housing and it manages a portfolio of over 8,311 units of housing.
Mountain Plains Equity Group, Inc. (MPEG) was established in 2003 to serve as a Low Income Housing Tax Credit (LIHTC) syndicator in its founding states of Montana, North Dakota, and Wyoming. MPEG has since grown its operations to also include LIHTC projects in Alaska, Colorado and South Dakota. In addition to its role as a tax credit syndicator, more recently MPEG has expanded its scope of business to include the role of partner and co-developer. Where appropriate, MPEG is now better able to work with local partners to plan and facilitate projects where there is a recognized need for housing.
The Ohio Capital Corporation for Housing (OCCH) is a nonprofit, mission-driven financial intermediary based in Columbus, Ohio that works with private and public developers to create affordable housing opportunities. Since inception in 1989, OCCH has raised over $5 billion in private capital and invested in over 50,000 units of affordable housing in over 900 developments. Our primary areas of focus include: raising tax credit equity for LIHTC projects, providing technical assistance and financial packaging for both nonprofit and for-profit developers, and performing asset management of our portfolio. OCCH created three affiliate organizations: the Ohio Capital Finance Corporation (OCFC), a certified Community Development Finance Institution (CDFI) and a member of the Federal Home Loan Bank of Cincinnati, which offers predevelopment and acquisition loans to further affordable housing development; Community Properties of Ohio Management Services (CPO), a property management organization that is a hybrid of real estate management and focused supportive services; and the Ohio Capital Impact Corporation (OCIC), a 501(c)(3) nonprofit affiliate that administers OCCH’s philanthropic activities, specifically targeted to benefit neighborhoods and residents where OCCH has investments in affordable housing.
The St. Louis Equity Fund has played a critical role in creating affordable housing during the past 30 years. The fund has raised over $426 million since its inception, creating more than 4,824 homes throughout the State of Missouri, Southern Illinois and Kansas City, KS. Our mission is to effectively utilize corporate investment and available tax incentives to stimulate the development of rental housing affordable to low and moderate-income families and seniors. We strive to revitalize neighborhoods through public/private cooperation and superior asset management.
We believe that Vibrant Communities Drive Change and all individuals deserve the opportunity to live in neighborhoods that allow them to thrive. For over three decades, we have connected developers, investors, and communities with the mission to build affordable housing and revitalize historic properties in order to create thriving neighborhoods that benefit all residents.
As the only Virginia-based tax credit equity fund, we have invested more than $675 million to help finance more than 9,000 affordable housing units in over 225 different communities in Virginia and its adjoining states.