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Financing for 150-Unit Affordable Housing Development in New Orleans Opportunity Zone Provided by Walker & Dunlop

Category: Community, Development, News

Walker & Dunlop Inc. announced today that it structured $23,020,000 in permanent financing for The Reveal, a 150-unit affordable housing development that will be constructed utilizing four percent Low Income Housing Tax Credits. Further, the Housing Authority of New Orleans has committed to providing Project-Based Vouchers for all 150 units at the site.

Located in Eastern New Orleans, Louisiana, the property is within the bounds of a designated opportunity zone census tract. Established by Congress in the Tax Cuts and Jobs Act of 2017, opportunity zones encourage long-term investments in designated low-income areas by offering incentives in the form of lower or deferred capital gains taxes.