I’ve been reading a lot about the financial benefits of low income housing tax credit (LIHTC) developments.
Developers of these properties can receive a windfall in the form of developer fees.
Any thoughts on the benefits of MHP vs. LIHTC properties? Would you close your MHP if you received funding to build a LIHTC apartment complex on the property?
Matt - I did analyst work for a LIHTC developer for about 12 months and was heavily involved in all aspects of the LIHTC process in my home state of Ohio. My focus is now on brokerage of manufactured home communities, and I see a lot of opportunity in well located blighted MHPs to be converted into LIHTC properties that can be of much more valuable than an MHP due to the density achieved by going vertical and because…it’s multifamily…which speaks for itself.
What state is your site located in?