New homes are coming to communities in Florida and Georgia with the support of a New Markets Tax Credit allocation from Community Housing Capital. On September 24th, Community Housing Capital, Inc. (CHC) deployed $20 million in New Markets Tax Credits (NMTCs) to Atlanta Neighborhood Development Partnership, Inc. in Georgia and Pensacola Habitat for Humanity, Inc. in Florida to develop a total of 82 homes. Both nonprofit housing developers are receiving an NMTC-funded loan to increase their capacity and cover market and affordability gaps.

American Express NMTC Homeownership 2025 Fund, LLC was the NMTC investor with support from U.S. Bancorp Impact Finance. Smith NMTC Associates, LLC facilitated the closing to maximize the project’s community benefits, provides the recapture guaranty, and will work closely with each developer on compliance and impact reporting over the 7-year compliance period. As part of Smith NMTC’s standard model to increase efficiencies, both projects were combined in one closing to share transaction costs and preserve the net benefit for community impacts.

Transforming a neighborhood through homeownership

With a $9.75 million NMTC-funded loan (QLICI), Atlanta Neighborhood Development Partnership, Inc. (ANDP) will be developing a 33-townhome subdivision on the west side of Atlanta – creating affordable homeownership opportunities in a neighborhood where fewer than 10% of residents currently own their homes. The Peyton Place Townhomes project will feature a mix of home sizes to meet different household needs, including layouts with 3 bedrooms and 2.5 bathrooms, and options with a garage. The anticipated sales price for the new townhomes is planned to be between $285,000 and $315,000, increasing the access to homeownership for households who may otherwise be priced out of the market.

The development is designed to serve households across a range of incomes, with 40% of the homes planned to sell affordably to households earning 80% AMI or below. In addition to creating new housing, the project will provide pathways to long-term economic stability through homeownership. To further expand access, ANDP will offer down payment assistance loans to eligible lower-income buyers, helping more families build wealth, remain in their community, and benefit from the opportunities that homeownership can provide.

pictured above (photos 4-5): Single-family homes that have been acquired and rehabbed by ANDP as part of their ongoing work to increase the supply of high-quality for-sale homes. 

Filling the gap in homeownership development across Northwest Florida

With a $9.75 million NMTC-funded loan (QLICI), Pensacola Habitat for Humanity, Inc. (Pensacola HFH) will create 49 affordable homes across Northwest Florida through two complementary developments designed to expand homeownership opportunities in communities facing significant housing challenges. The project includes the Hancock Meadows development, a long-stalled subdivision north of downtown Pensacola that will finally move forward thanks to this financing that helps covers critical infrastructure costs, as well as a broader neighborhood revitalization initiative that combines larger-scale development sites with scattered-site infill housing. Together, these efforts will bring quality homes to families in areas that have experienced decades of underinvestment while strengthening neighborhoods with convenient access to schools, healthcare, jobs, and retail amenities.

Beyond building homes, Pensacola HFH is creating lasting pathways to affordable homeownership. 8 of the homes will be developed through the Northwest Florida Community Land Trust, an innovative model that preserves long-term affordability. Homebuyers will also receive comprehensive support, including financial counseling, homebuyer education, and post-purchase assistance, helping families succeed long after they receive their keys. With an average expected sale price of $229,000, the project will expand access to homeownership for low- and moderate-income families, including many teachers, healthcare workers, first responders, and other essential workers who are increasingly priced out of the communities they serve.

pictured above (photos 1-3): The dedication ceremony for new home by Pensacola HFH, two homes under construction, and a display of available home model renderings for Handcock Meadows. 

Providing capital to the NeighborWorks America network

Community Housing Capital (CHC) is a Community Development Financial Institution (CDFI) and 501(c)(3) nonprofit organization founded in 2000 to support the creation and preservation of affordable housing. As of 2025, CHC’s lending activity has helped create or preserve more than 25,374 affordable homes and facilitated $4.1 billion in total development. To date, CHC has received $180M in NMTC allocation over 4 award rounds and has deployed $126M to fund 17 affordable homeownership projects to develop approximately 467 homes in low-income communities across 10 states.

Smith NMTC Associates, LLC has partnered with Community Housing Capital since 2020 to build their NMTC lending program. Since then, CHC has been awarded a total of $180M in NMTC allocation since receiving its first award from the 2020 application round and has deployed $126M-to-date to fund 17 affordable homeownership projects and develop 467 homes in low-income communities across 10 states. Learn more about Smith NMTC’s services for Community Development Entities and nonprofit developers…