Housing

There are few policy issues that are more rewarding—or more impactful in the day-to-day life of all Americans—than housing. Our team has deep experience in the creation and operation of affordable, homeless, workforce rental and veteran housing. We understand the federal role in financing these projects, the shortcomings of existing policies, and have clear strategies on how to creatively adapt to those challenges. Because the need for safe, affordable housing is universal, our staff excel in this sector on behalf of government, industry and development clients. In particular, we can help clients:

Understand federal financing tools including the Low-Income Housing Tax Credit, and identify ways these programs can be improved in future years to better serve unique and vulnerable populations;

Develop a plan to secure federal resources for infrastructure, and build support for applications;

Identify new funding for services that support residents, especially the elderly, veterans, or with high medical needs; or

Secure project-specific resources through Congressionally Directed Spending.

Select Accomplishments in Housing

  • After years of neglect, the Greater Los Angeles VA Medical Center finally is taking concrete steps to address the fact that nearly 10% of all homeless veterans in the Nation reside in the LA region. PACE was retained to help the VA-selected developer finance, build, operate and maintain the nation’s largest homeless veteran housing complex. Our team has helped generate hundreds of millions of dollars in direct subsidy, as well as updated the statute governing how the complex is being built in a way that saved the developer millions more.
  • When IRS re-interpreted its regulations to determine that a veteran-only housing facility would not meet the “general public use,” test for the purposes of tax-exempt bonds, PACE was engaged on behalf of a group of housing developers with projects in the pipeline. PACE worked with Congress to highlight the absurdity of the re-interpretation, and ultimately forced IRS to return to its original interpretation. In doing so, we allowed our clients to access tens of millions in critical financing and helped provide much needed affordable and homeless housing for the men and women who served our nation.

Select Accomplishments for Clients in the Housing Sector

After years of neglect, the Greater Los Angeles VA Medical Center finally is taking concrete steps to address the fact that nearly 10% of all homeless veterans in the Nation reside in the LA region. PACE was retained to help the VA-selected developer finance, build, operate and maintain the nation’s largest homeless veteran housing complex. Our team has helped generate hundreds of millions of dollars in direct subsidy, as well as updated the statute governing how the complex is being built in a way that saved the developer millions more.