Affordable Housing Experts

Re-Develop.
Re-Build.
Re-Imagine.

We guide public housing authorities, nonprofits, and developers through every stage of affordable housing finance — from RAD conversions and LIHTC applications to capital stack structuring and asset management.

4% + 9%
LIHTC Expertise
RAD
Conversion Specialists
50+
States Served

Who We Serve

Built for the Affordable Housing Ecosystem

We partner with every stakeholder across the development lifecycle — from housing authorities navigating federal programs to nonprofits seeking mission-aligned capital.

Public Housing Authorities

We support PHAs through RAD conversions, HUD program compliance, repositioning strategies, and procurement advisory to unlock new financing pathways.

Nonprofit Developers

Mission-driven organizations receive hands-on guidance through LIHTC applications, soft funding sources, and mixed-finance transaction structures.

For-Profit Developers

Experienced private developers gain access to our deep expertise in tax credit equity, historic credit structures, and complex capital stack execution.

Tribal Housing Entities

We navigate the unique federal and tribal program landscape, ensuring tribal housing authorities access NAHASDA, LIHTC, and other specialized resources.

Tax Credit Investors & Equity Funds

Institutional equity partners receive underwriting support, closing coordination, and portfolio-level asset management strategy across LIHTC and HTC deals.

Comprehensive Affordable Housing Services

From feasibility through ribbon-cutting and beyond — we manage every facet of affordable housing development and finance.

01

Affordable Housing Development & Advisory

National portfolio management across Section 42 (LIHTC) and Section 8. Complex redevelopment, repositioning, and mixed-finance transaction advisory.

LIHTCSection 8Mixed Finance
02

Financial Modeling & Transaction Analysis

Detailed capital stack modeling for acquisition/rehab and new construction. Debt sizing, equity pricing, sources & uses, and long-term operating feasibility.

Pro FormaCapital StackUnderwriting
03

HUD & RAD Technical Assistance

One-on-one RAD training, implementation support, and strategic guidance. Consulting on 4% and 9% LIHTC transactions progressing toward financial closing.

RAD4% LIHTC9% LIHTC
04

LIHTC & Public Funding Applications

Preparation and submission of LIHTC applications. Support for HOME, AHP, and CDBG soft financing sources. Full agency coordination through award.

HOMECDBGAHP
05

Debt, Bond & Capital Markets

Sourcing and structuring taxable and tax-exempt bond financing. Coordination with lenders, bond underwriters, and public agencies to align financing terms.

Tax-Exempt BondsHUD 221(d)(4)Bridge Loans
06

Tax Compliance, HTC & Cost Analysis

Historic Tax Credit transaction structuring, QRE maximization, cost segregation studies, 10% tests, LIHTC cost certifications, and entity structuring.

Historic Tax CreditCost SegCompliance

Development Consulting for Housing Authorities & Nonprofits

Public housing authorities face unique challenges: aging stock, complex HUD requirements, and the constant pressure to do more with less. We bridge the gap between federal policy and on-the-ground execution.

RAD Conversion Strategy

We guide PHAs from initial feasibility through HUD CHAP submission, choice-mobility compliance, resident engagement, and tax credit closing.

RFP Response & Procurement Support

We prepare compelling responses to PHA developer/consultant RFPs and help housing authorities structure competitive procurement processes.

Mixed-Finance & Repositioning

Public housing repositioning through MTW, Faircloth-to-RAD, and mixed-finance strategies including Section 18 demolition/disposition approvals.

Nonprofit Developer Capacity Building

We help mission-driven nonprofits build internal development capacity — from board-level education to deal structuring and syndication partnerships.

Portfolio Asset Management

Ongoing compliance monitoring, operating performance analysis, and long-term strategy to protect and grow the value of your affordable housing portfolio.

The RAD Conversion Roadmap

Our proven step-by-step process takes housing authorities from concept to closing with confidence.

1
Portfolio Assessment & Feasibility

Physical needs assessments, HUD subsidy analysis, and initial pro forma modeling to identify the best conversion path.

2
CHAP Application & Submission

Prepare and submit the Commitment to Enter into a Housing Assistance Payments (CHAP) contract with HUD.

3
LIHTC Application & Equity Raise

Coordinate 4% or 9% tax credit application, secure equity commitment, and structure the tax credit partnership.

4
Debt Financing & Bond Issuance

Arrange HUD-insured, conventional, or tax-exempt bond financing to complete the capital stack.

5
Closing, Construction & Conversion

Coordinate legal closing, resident relocation, construction oversight, and final HAP contract execution.

Federal, State & Local Funding Programs

We maintain a comprehensive, current understanding of every available funding source — and we build capital stacks that maximize value for your project and your community.

Federal

Federal Programs

  • Low-Income Housing Tax Credits (Section 42 LIHTC) — 4% & 9%
  • Rental Assistance Demonstration (RAD) — Part 1 & Part 2
  • HOME Investment Partnerships Program
  • Community Development Block Grants (CDBG)
  • HUD 221(d)(4) & 223(f) FHA-Insured Loans
  • Section 8 Housing Choice Vouchers / HAP Contracts
  • Historic Tax Credits (HTC) — 20% Federal Credit
  • New Markets Tax Credits (NMTC)
  • USDA Rural Development (Section 515 / 538)
  • Federal Home Loan Bank AHP Grants
State

State-Level Sources

  • State Housing Finance Agency LIHTC Allocations
  • State Historic Preservation Tax Credits
  • State HOME & HTF Program Allocations
  • State Housing Trust Funds
  • State Low-Income Housing Trust Funds
  • Community Development Finance Institution (CDFI) Loans
  • State Revolving Loan Funds
  • Tax-Exempt Private Activity Bond Allocations
  • State Rental Subsidy Programs
  • Supportive Housing & OPWDD Funding
Local

Local & Municipal Programs

  • Municipal Housing Trust Funds
  • Local CDBG Entitlement Grants
  • Tax Increment Financing (TIF) Districts
  • Inclusionary Zoning In-Lieu Fees
  • Local Redevelopment Authority Grants
  • Land Disposition & Land Bank Programs
  • Payment in Lieu of Taxes (PILOT) Agreements
  • Local Utility Rate Reductions
  • Municipal Infrastructure Grants
  • City & County Soft Second Mortgages

From Vision to Ribbon-Cutting

A disciplined, end-to-end approach that delivers results at every stage of the development lifecycle.

Feasibility & Assessment

Portfolio review, physical needs analysis, financial screening

Funding Strategy

Identify optimal capital stack — LIHTC, bonds, grants, soft debt

Applications & Approvals

LIHTC, HUD, bond, grant applications and agency coordination

Financial Closing

Equity, debt, and soft funding closing coordination with all parties

Asset Management

Ongoing compliance, performance monitoring, and portfolio strategy

Our Expertise at a Glance

LIHTC Transaction ExperienceExpert
RAD Conversion GuidanceSpecialized
Capital Stack StructuringExpert
Federal Program KnowledgeComprehensive
PHA & Nonprofit AdvisorySpecialized

The Right Partner for Complex Deals

Deep Federal Program Expertise

We stay current with HUD policy updates, RAD program changes, and IRS guidance — so you never miss an opportunity or compliance deadline.

Relationships That Open Doors

Established connections with syndicators, lenders, state HFAs, and HUD offices accelerate your timeline and improve deal terms.

Accountant-Led Financial Rigor

With CPA-level financial modeling and tax analysis, our capital stacks hold up through lender underwriting, syndication review, and IRS audit.

End-to-End Accountability

We don't hand off at closing. Our team stays engaged through construction, lease-up, and stabilization — protecting your investment at every stage.

Ready to Unlock Your Next Affordable Housing Project?

Whether you're a housing authority exploring RAD, a nonprofit seeking LIHTC financing, or a developer building your capital stack — we're ready to help.

Schedule a Free Consultation

Let's Start Your Next Project

Complete the form and a member of our team will be in touch within one business day.

We Keep an Eye on Every Funding Opportunity

Our team actively monitors federal, state, and local resources so your projects are always positioned to access the best available capital. Reach out to discuss your portfolio.

Location Serving clients nationwide
Email info@phadevelopment.com
Phone Contact us for direct line
Availability Monday – Friday, 9am – 6pm EST