Our Tax Credit Finance practice is a multidisciplinary practice that includes attorneys with experience in tax, real estate, finance, partnership, securities and energy law. We have represented equity investors, syndicators, leverage lenders, QALICBs, community development entities, credit enhancers, and for-profit and not-for-profit developers and managers in tax advantaged investments, including new markets tax credits, historic rehabilitation tax credits and low-income housing tax credits. We have substantial experience in structuring complex historic/new markets combined tax credit projects. Our experience also includes advising clients on renewable energy tax credit issues.

We provide significant financing services including structuring and documenting construction loans, term loans, letters of credit and other real estate-related financings on behalf of borrowers and lenders. We have experience with HUD insured financings, state grants, bond financings (both single-family and multi-family transactions), participating mortgages, equity participation, mortgage-backed securitized financings, interest rate swaps and other forms of sophisticated real estate financings.

Our approach is to provide clients with the most current information in each of these fields in an efficient, cost-effective manner, and to deal effectively with a myriad of legal and business issues.

Recent Transactions:

We have over 30 years of experience in tax credit financing and have been involved in over 250 projects. Some of our recent transactions include the following:

Franklin Carpet Mills, Philadelphia, Pennsylvania. The combined new markets tax credit/historic tax credit financing for the rehabilitation and development of a mixed-use residential and commercial community, which will feature residences for social workers and office space for nonprofit organizations supporting health and human services needs in and around Philadelphia.

Allyn 88, Hartford, Connecticut. Representation of the developer in the rehabilitation of a historic office building in Hartford, Connecticut, utilizing state and federal historic tax credits.

The Bok School Building, Philadelphia, Pennsylvania. Representation of the developer/sponsor team in the new markets tax credit financing for the renovation, development and leasing of the Bok School Building to small businesses, non-profit organizations and other commercial tenants offering a wide diversity of available space.

The Homestead Bakery Lofts, Pittsburgh, Pennsylvania. Representation of the non-profit developer/sponsor in the historic rehabilitation tax credit financing for the Homestead Bakery Lofts, a residential/commercial project providing affordable housing units.

King's College, Wilkes-Barre, Pennsylvania. The combined new markets tax credit/historic tax credit financing for the development of an education center and a community center in Wilkes-Barre, Pennsylvania.

820 Liberty Avenue, Pittsburgh, Pennsylvania. The historic tax credit financing for the rehabilitation and development of a historic office building in downtown Pittsburgh.

The Beacon Roxy Building, Jersey City, New Jersey. The historic rehabilitation of the Beacon Roxy Building, a mixed use development emerging from the renovation of the former Jersey City Medical Center.

Connell Building, Scranton, Pennsylvania. Represented the QALICB/property owner and developer in the unwind of the new markets tax credit financing for an office building project in Scranton, Pennsylvania.

111 Pearl Street, Hartford, Connecticut. Representation of the developer in the rehabilitation of a historic office building in Hartford, Connecticut, utilizing state and federal historic tax credits.

Roxian Theater, Mckees Rocks, Pennsylvania. Representation of the developer/sponsor team in the historic tax credit financing for the renovation of the historic Roxian Theater in Mckees Rocks, Pennsylvania.

Comfort Inn, East Ohio Street, Pittsburgh, Pennsylvania. Represented Northside Community Development Corporation as leverage lender for a hotel project located in the Northside neighborhood of Pittsburgh, Pennsylvania.

Cristo Rey Philadelphia High School, Philadelphia, Pennsylvania. Representation of QALICB/project owner and leverage lender in a combined new markets tax credit and historic tax credit financing for the construction of a new two-story main school building and the renovation of an existing warehouse.

Philadelphia Navy Yard, Building 57, Philadelphia, Pennsylvania. Representation of QALICB/project owner and sponsor group in the combined new markets tax credit and historic rehabilitation tax credit financing of a manufacturing facility located at the Philadelphia Navy Yard.

15th and Vine, Cincinnati, Ohio. Representation of a community development corporation and QALICB in the new markets tax credit financing for residential/commercial project in Cincinnati, Ohio.

Community Partnership School, Philadelphia, Pennsylvania. Representation of QALICB and sponsor group in the new markets tax credit financing for the renovation and development of an elementary school for pre-kindergarten through fifth grade students together with a gym, auditorium and meeting space for community sports, meetings and events.

Monarch Development, Lebanon, Pennsylvania. Represent QALICB/project owner and developer in the new markets tax credit financing for the construction and development of a commercial shopping center project located at 356 N. Partridge Street, Lebanon, PA.

Landmark Properties, York, Pennsylvania. Representation of QALICB/project owner. leverage lender and developer in the combined new markets tax credit and historic rehabilitation tax credit financing for the development and rehabilitation of a residential/commercial project in downtown York, Pennsylvania.

Walgreens, Paterson, New Jersey. Representation of QALICB/project owner in the unwind of a new markets tax credit financing.

Shoprite Grocery Store, Tulip Street, Philadelphia, Pennsylvania. Representation of QALICB/project owner in the new markets tax credit financing for the fit out of a grocery store in Philadelphia, Pennsylvania.

Chester Charter School for the Arts, Chester, Pennsylvania. Representation of QALICB/project owner and developer in connection with the new markets tax credit financing for the development and construction of an educational facility, consisting of approximately 90,000 square feet of space to include classrooms, art and dance studios, science labs, a cafetorium and a gymnasium.

Queen Theater, Wilmington, Delaware. A combined new markets tax credit/federal and state historic tax credit structure in which we represented the developer and related entities in the unwind of the transaction, in their roles as QALICB, leverage lender, guarantor and developer.

Federally Qualified Health Center, Lewistown, Pennsylvania. A new markets tax credit financing for a multi-tenant health and social services facility in which we represented the project owner, developer and related entities.

Market Street York, York, Pennsylvania. A combined new markets tax credit and historic rehabilitation tax credit financing for the renovation of mixed-use space in downtown York, Pennsylvania, in which we represented the sponsor development team.

Drexel University ??Kline Institute, Philadelphia, Pennsylvania. A historic rehabilitation of a former bank building utilizing federal historic tax credits in which we represented the sponsor development team.

NewCourtland LIFE at St. Bartholomew, Inc., Philadelphia, Pennsylvania. The acquisition and new construction of a senior health center utilizing federal new markets tax credits in which we represented the sponsor development team.

Lehigh Valley Charter High School for the Arts, Bethlehem, Pennsylvania. A new markets tax credit financing for the construction of a charter high school facility in which we represented the sponsor organization and related entities.

Shoppes at Wissinoming, Philadelphia, Pennsylvania. The acquisition and new construction of an 110,000 square foot retail center with anchor tenants, located on approximately 13 acres, which utilized multiple financing sources including new markets tax credits.

ACTION-Housing, Hazelwood, Pennsylvania. A historic rehabilitation of two buildings in downtown Hazelwood into residential and commercial space in which we represented the sponsor and development entities.

Third Street Partners, Harrisburg, Pennsylvania. A new markets tax credit financing in connection with the renovation of four buildings in downtown Harrisburg in which we represented the sponsor development team, the QALICB, the leverage lender and guarantors.

Taller Puertorrique챰o Cultural Center, Philadelphia, Pennsylvania. The construction and development of a new 25,000 square foot arts and cultural center financed by new markets tax credits in which we represented the sponsor and development entities.

Bridgeway Capital, Pittsburgh, Pennsylvania. The renovation of an existing five-story 135,800 square foot industrial building located in the Homewood neighborhood of Pittsburgh for the purpose accommodating creative start-up and nascent entrepreneurial business activity. The project was financed in part with new markets tax credits.

Music Hall, Cincinnati, Ohio. Representation of the sponsor and developer entities in connection with the historic tax credit financing for the renovation, repair and revitalization of the iconic Cincinnati Music Hall.

Hero House, Philadelphia, Pennsylvania. The acquisition and development of a four-story, 44,000 square foot former public school building located in the Grays Ferry neighborhood of Philadelphia for use as office space for social services and healthcare providers, financed in part with new markets tax credits.

Eastern Village, Philadelphia, Pennsylvania. Tax credit counsel in connection with the new markets tax credit and historic rehabilitation tax credit financing, renovation and construction of a 52,000 square foot mixed-use building known as the American Railway Express Company Garage.

The Beacon Hague Building, Jersey City, New Jersey. The historic rehabilitation of the Beacon Hague Building, a mixed use development emerging from the renovation of the former Jersey City Medical Center.

Market Street Village, Wilmington, Delaware. A residential project in Wilmington, Delaware utilizing federal low-income housing tax credits, federal and state historic tax credits and tax-exempt financing in which we represent the developer and related entities.

Federally Qualified Health Center, Sharon, Pennsylvania. A new markets tax credit financing for a multi-tenant health and social services facility in which we represent the project owner, developer and related entities.

Ace Hotel, Pittsburgh, Pennsylvania. A combined new markets tax credit/historic tax credit financing for the conversion of a YMCA in Pittsburgh, Pennsylvania, in which we represent the sponsor, developer and related parties.

Community Education Building, Wilmington, Delaware. A new markets tax credit financing for the renovation of an office building in downtown Wilmington, Delaware to be used by multiple local charter schools, in which we represent the nonprofit project owner, developer and related entities.

The Beacon, Jersey City, New Jersey. The historic rehabilitation of The Beacon, a new mixed-use development emerging from the historic rehabilitation of the former Jersey City Medical Center.

Constitution Plaza, Hartford, Connecticut. A historic rehabilitation of a former hotel in downtown Hartford, Connecticut that had been vacant for over 15 years, into residential and commercial space.

Jacksonville Greene, Hatboro, Pennsylvania. A historic rehabilitation of the former Roberts & Mander Stove Company Building into residential and commercial space.

Drexel Federally Qualified Health Center, Philadelphia, Pennsylvania. A new markets tax credit financing for a health center facility operated by Drexel University's school of nursing, in which we represent the sponsor, developer and related entities.

Stephen Klein Wellness Center, Philadelphia, Pennsylvania. A new markets tax credit financing for a federally qualified health center located in North Philadelphia in which we represented the sponsor, developer and related entities.

Energy Innovation Center, Pittsburgh, Pennsylvania. A combined new markets tax credit/historic tax credit structure in which we represent a qualified community development entity.

Drexel University, Philadelphia, Pennsylvania. A combined new markets tax credit/historic tax credit structure in which we represent the developer and related entities in their roles as QALICB, leverage lender, guarantor and developer.

1616 Walnut Street, Philadelphia, Pennsylvania. A historic tax credit financing in which we represented the developer and related entities.

Project H.O.M.E., Philadelphia, Pennsylvania. A new markets tax credit financing in which we represented the sponsor and related entities in connection with the financing of their Middleton Partnership for Ending Chronic Street Homelessness.

Philabundance Nonprofit Grocery Store, Chester, Pennsylvania. A new markets tax credit financing in which we represented the sponsor, developer and related entities for a nonprofit grocery store in Chester, Pennsylvania.

Preston Place, Baltimore, Maryland. A historic tax credit financing of a scattered site residential project in which we represented the developer and related entities.

Wharton Street Lofts, Philadelphia, Pennsylvania. A historic tax credit financing for a multi-family residential development which we represented the project owner, developer, guarantors and related entities.

New Courtland LIFE Center, Philadelphia, Pennsylvania. A new markets tax credit financing in which we represented the sponsor, developer and related entities for a senior healthcare facility in Philadelphia, Pennsylvania.

Chelten Plaza, Philadelphia, Pennsylvania. Represented the third-party leveraged lender in a new markets tax credit financing for a supermarket/retail center project.

Supermarket/Retail Center, Vineland, New Jersey. Represented the third-party leveraged lender in a new markets tax credit financing for a supermarket/retail center project in Vineland, New Jersey.

Federally Qualified Health Center, Punxsutawney, Pennsylvania. A new markets tax credit financing for a multi-tenant health and social services facility in which we represent the project owner, developer and related entities.

Watermill Lofts, Philadelphia, Pennsylvania. A historic tax credit financing for a multi-family residential development which we represented the project owner, developer, guarantors and related entities.

Community Legal Services, Philadelphia, Pennsylvania. A new markets tax credit financing for the construction and development of an approximately 19,000 square foot office building to house the North Philadelphia office of CLS, in which we represented the project owner as special tax counsel.

State Office Building, Philadelphia, Pennsylvania. A historic tax credit financing in which we represented the project owner, developer, guarantors and related entities.

Philadelphia Convention Center Hotel Project, Philadelphia, Pennsylvania. A new markets tax credit transaction involving multiple sources of state and federal funding in which we represented the developer and related entities.

Goodwill Building, Pittsburgh, Pennsylvania. A historic tax credit financing in which we represented the developer and related entities.

Chamber of Commerce Building, Scranton, Pennsylvania. A historic tax credit financing in which we represented the developer and related entities.

YMCA Building, Scranton, Pennsylvania. A historic tax credit financing in which we represented the developer and related entities.

Basketball City Project, New York, New York. Represented tax credit investor and community development entity in a new markets tax credit financing.

Michiana Public Broadcasting Headquarters, South Bend, Indiana. Represented tax credit investor and community development entity in a new markets tax credit financing.

Newark Farmer's Market Urban Renewal Project, Newark, New Jersey. Represented a community development entity in a new markets tax credit financing of a 180,000 square foot temperature controlled distribution center.

1701 Arch Street, Philadelphia, Pennsylvania. A historic tax credit financing in which we represented the developer and related entities.

Studio Centre Project, Norristown, Pennsylvania. A new markets tax credit transaction involving multiple sources of state and federal funding in which we represented the developer and related entities.

Bucknell University Main Street Revitalization Project, Lewisburg, Pennsylvania. A federal historic tax credit structure in which we represented the developer and related entities.

1201 Chestnut, Philadelphia, Pennsylvania. A historic tax credit transaction for a 15-story mixed use project, in which we represented the developer and related entities.

Schmidt's Site ??Pathmark Project, Philadelphia, Pennsylvania. A new markets tax credit retail project in which we represented the developer and related entities in their roles as QALICB, leverage lender, guarantor and developer.

Queen Theater, Wilmington, Delaware. A combined new markets tax credit/federal and state historic tax credit structure in which we represented the developer and related entities in their roles as QALICB, leverage lender, guarantor and developer. We also represented one of the three Community Development Entities in the transaction providing legal opinions under Pennsylvania and Delaware law.

Bucknell Bookstore Project, Lewisburg, Pennsylvania. A combined new markets tax credit/federal historic tax credit structure in which we represented the developer and related entities in their roles as QALICB, leverage lender, guarantor and developer.

The "Egg" Building, The Piazza at Schmidt's, Philadelphia, Pennsylvania. A new markets tax credit transaction in which we represented the developer and related entities in their roles as QALICB, leverage lender, guarantor and developer.

King's College ??North Main Gateway Project, Wilkes-Barre, Pennsylvania. A new markets tax credit transaction in which we represented the developer and related entities in their roles as QALICB, guarantor and developer in connection with the construction of a 94,000 square foot mixed use building for commercial, retail and student housing.

Franklin and Marshall College, Lancaster, Pennsylvania. A historic rehabilitation tax credit transaction in which we represented the project owner, developer and guarantor in connection with the conversion of a historic warehouse into a day care center.

421 Seventh Avenue, Pittsburgh, Pennsylvania. A combined new markets tax credit/federal historic tax credit structure in which we represented the third-party leverage lender.

Art Institute of Pittsburgh, Pittsburgh, Pennsylvania. A historic rehabilitation of 140 residential apartment units in downtown Pittsburgh.

AIA Philadelphia Headquarters and Retail Operation, Philadelphia, Pennsylvania. Represented the American Institute of Architects in the purchase and rehabilitation of its Philadelphia headquarters and retail space utilizing new markets tax credits.