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Affordable Housing

Cohen & Grigsby’s Affordable Housing Group assists clients in the myriad of local, state and Federal laws and regulations impacting affordable housing.  Cohen & Grigsby has represented local housing authorities, developers, tax credit investors and state housing finance agencies.  The attorneys in the Affordable Housing Group work closely with attorneys in our tax, real estate, environmental and municipal finance groups to provide holistic answers to the complex issues that arise in affordable housing transactions. 

The attorneys in our Affordable Housing Group draw upon a wide range of experience to solve our clients legal issues.  The Affordable Housing Group is led by Michael Syme, an attorney with almost two decades of experience.  Mr. Syme is the Pennsylvania co-chair of the American Bar Association Forum on Affordable Housing.  He has served as general counsel to a large public housing authority.  Other members of our Affordable Housing Group have served as lead counsel on national low-income housing tax credit development partnerships, formed ownership and subsidiary entities such as tax exempt 501(c)(3) corporations, limited partnerships and limited liability partnerships and have vast experience in syndication.

The Affordable Housing Group practices in the following areas:

Public Housing Transformation
We represent public housing authorities, developers, and investors in the revitalization of public housing communities.  Cohen & Grigsby has been at the forefront of the HOPE VI program and worked to help create mixed-finance, mixed-income developments which include public housing units, tax credit units, and market rent units.  Affordable Housing Group attorneys work closely with our Tax Group to insure the proper utilization of low-income housing tax credits.  We also work closely with our Public Finance Group when bond proceeds are utilized in the mixed-finance revitalization of housing communities.  Cohen & Grigsby was involved in the first intercreditor agreement utilized in a mixed-finance transaction as well as the first non-insured bond issue. 

HOME and CDBG Funds
Cohen & Grigsby's attorneys work with public housing authorities, developers and public organizations that utilize the HOME and Community Development Block Grant Program funds in revitalization efforts.  Our attorneys have also worked with the Federal Home Loan Bank and private foundations to revitalize low-income communities. 

Senior Housing
The Affordable Housing Group has been active in creating affordable senior housing including assisted living and independent living facilities.  We are familiar with the state laws and regulations that effect these developments and have assisted our clients in clearing the hurdles to make such developments a reality. 

Other Areas of Experience
  • Bonds for home mortgage financing and rental housing projects
  • Community development lending
  • Environmental issues
  • Fannie Mae, Freddie Mac, Ginnie Mae housing programs
  • HUD programs including HOPE VI, Mark to Market, Section 8, Moving-to-work and other programs
  • Investor partnerships
  • Land use
  • Low income housing tax credits
  • Employment practice issues
  • Non-profit development
  • Public housing
  • Section 8 housing
  • State and local housing programs
  • Tax abatement and payment in lieu of taxes
  • Tax exempt financing
  • Zoning and subdivision