2022 Boston Financial Year In Review
In 2022 we raised nearly $1.4 billion in low-income housing tax credit equity, leading to 78 affordable housing communities, which created 13,944 jobs and over $1.5 billion in local wages and business income. 80% of the developers we worked with are repeat relationships, and 32% of the developers we worked with are nonprofits. As of today, there are 172,304 affordable homes in our portfolio, housing almost half a million people.
2022 was also a big year beyond our LIHTC work. We continued working on seeking investments for our $100MM Preservation Fund, closing $61.4MM in affordable housing preservation equity to date. American Community Capital (ACC) was certified as a community development financial institution (#CDFI) by the US Department of the Treasury. Boston Financial is now the only national, for-profit syndicator with CDFI capabilities.
Thank you to all of our investors, developer partners, team members, and community members who have made our work possible, and continue to help us realize our vision of a future where everyone has a home, one investment at a time.