Likes: "We expect the demand for affordable housing to grow substantially." Likes: “We expect the demand for affordable housing to grow substantially.”

CLEVELAND—Last month, Sens. Orrin Hatch (R-UT) and Maria Cantwell (D-WA), along with cosponsor Ron Wyden (D-OR) introduced a more comprehensive version of legislation Hatch and Cantwell had introduced in May to expand the Low Income Housing Tax Credit program. If the legislation passes, it would greatly increase the production of affordable housing through preservation and development, says Rob Likes, national manager of KeyBank’s Community Development Lending & Investing platform.

Even with the expansion of the LIHTC program that the Affordable Housing Credit Improvement Act of 2016 would entail, though, Likes says demand will continue outpacing supply. He tells that affordable housing transactions involve multiple elements and multiple stakeholders—all to the good, then, that he expects more private-sector participation in the sector.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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