It’s never too late to celebrate the teamwork and partnerships that led to record-breaking impacts in 2025. Take a look at these innovative and impactful projects from our milestone year!

The Power of Homeownership: NMTCs support innovation in housing supply and affordability

In 2025, Smith NMTC partnered with five Community Development Entities (CDEs) to close $129.25 million in NMTCs for homeownership — a new company record for annual QEI impact! The six transactions will result in the addition of 566 homes for sale in communities across 12 states. At least 67% of the homes developed will be sold affordably to low-income households earning 80% AMI or below — exceeding the 20% NMTC requirement for qualified affordable sales.

These affordable homeownership opportunities will strengthen the communities in which they are located and spark economic development. They represent the depth and breadth of innovation led by nonprofit housing developers in addressing the housing crisis, with the support of New Markets Tax Credits.

Neighborhood Revitalization, Made-to-Order Homes, and more with CHC’s March 2025 deployment

On March 27, 2025, Community Housing Capital deployed its entire 2023 NMTC allocation award of $40 million to support affordable homeownership developments across 5 states by NeighborWorks American organizations to develop a total of 148 homes through new construction and rehab. Read more…

• Affordable HomeMATTERS Indiana, LLC, a subsidiary of Intend Indiana, is building 20 homes in South Bend’s Lincoln Park neighborhood — part of a larger multi-year project to create 90+ new homeownership opportunities and address the negative effects of vacant lots, such as decreased property values and increased crime.
• In Texas, come dream. come build. is developing 50 homes across 3 locations in Cameron County through their volumetric modular housing construction program, DreamBuild — the streamlined process reduces construction time and costs, and homebuyers can customize interior and exterior selections.
• Home HeadQuarters, Inc. is building 28 new homes throughout Syracuse, New York, strategically planned in neighborhoods where other community development activities are underway to maximize investment.
• In Georgia, NeighborWorks Columbus is developing 20 homes and completing the Elliott’s Walk subdivision, which was designed, in part, to provide a solution for the predominantly low-income active-duty soldiers and veterans who struggle to find homes affordable for purchase.
• One Roof Community Housing is developing 30 homes across Duluth, Minnesota through new construction and acquisition/rehab, and once completed, all of the homes will be part of a community land trust to ensure affordability and equity-building opportunities for future homebuyers.

Historic Infill, Room to Grow, and more with Harbor’s April 2025 deployment

On April 3, 2025, Harbor Bankshares Corporation deployed $12 million in NMTCs to support the development of 54 for-sale homes across 2 states. Read more…

• Habitat for Humanity of the Chesapeake, Inc. will develop 17 single-family homes through new construction and acquisition/rehab across five areas of Baltimore, Maryland to provide affordable homeownership opportunities for low-income households, remove blight by rehabbing vacant properties, and strengthen communities by providing high-quality affordable housing near important amenities like schools, parks and hospitals.
• In North Carolina, Habitat for Humanity of Wake County, Inc. will develop 24 new homes in Johnston and Wake Counties — the 3-bedroom homes will provide affordable homeownership options in an area that is experiencing rapid growth, and plenty of space for homebuyer families.
• Also in Maryland, the Neighborhood Housing Services of Baltimore will acquire and rehab 13 historic single-family rowhomes in a community that has been identified as a pivotal location for redevelopment (with poverty rates as high as 39.80% and unemployment rates as high as 4.02x the national average).

Preserving Affordability, Building a New Community, and more with HPN’s April 2025 deployment

On April 9, 2025, Housing Partnership Network deployed $27 million in NMTCs from their 2023 NMTC Award for the development of 119 affordable homes by 3 HPN Member organizations. Read more…

• Affordable Homes of South Texas, Inc. will build 54 new homes in Hidalgo County where homebuyers can select interior and exterior colors and features to customize their new homes.
• In Georgia, Atlanta Neighborhood Development Partnership, Inc. will acquire 35 vacant single-family homes from large-holding rental investors to rehab and sell affordability to low-income homebuyers across multiple neighborhoods.
• Homewise, Inc. will build 30 townhomes as part of a new mixed-income residential community in Albuquerque, New Mexico where residents will enjoy easy access to desirable amenities like the city’s largest open space system via the adjacent rail-to-trail and a high-performing charter middle school right next door.

A CDE expands its impact through homeownership in California

On April 16, 2025, Genesis LA CDE, LLC deployed $10.25 million in NMTCs to develop 22 homes through new construction and rehab in two Los Angeles neighborhoods. Read more…

• Of the 22 homes being developed by San Gabriel Valley Habitat for Humanity in Los Angeles County, 11 units will be adaptive reuse, transforming a former church and school building into opportunities for first-time homebuyers.
• All of the homes developed will be sold to households earning 80% AMI or below, and current residents of Baldwin Park and those who work in the area will be given preference in the application process for a home to encourage local renters to become first-time homeowners in the community where they already have deep ties.

Addressing Shortages, Building Community through Housing, and more with HPN’s August 2025 deployment

On August 6, 2025, Housing Partnership Network deployed the remainder of its 2025 NMTC Allocation in a $33 million transaction to develop 86 homes by 3 HPN Member organizations. Read more…

• In Indiana, Indianapolis Neighborhood Housing Partnership is developing 23 homes primarily through new construction, including the completion of Arnold Place — a vibrant townhome community named after a neighborhood centenarian and the city’s largest single-site affordable homeownership development in over 20 years.
• The Housing Partnership, Inc. is constructing 25 new homes in Louisville, Kentucky through scattered infill — this work will help improve neighborhoods and contribute toward revitalizing West Louisville.
• Self-Help Enterprises is building 17 homes in Modesto, California that will be sold to buyers with household incomes at or below 80% AMI, addressing a severe shortage in affordable homeownership.
• By developing 3- and 4-bedroom homes, the Southwest Minnesota Housing Partnership is addressing the severe lack of affordable housing options for larger families in the Mankato area, where the 21 homes they’re developing will be part of a community land trust to ensure future affordability.

Local Solutions through Small Dollar QLICIs

On December 11, 2025, USBCDE LLC deployed $7 million in NMTCs to develop 40 new homes that will all be sold to low-income homebuyers earning 80% AMI or below. Read more…

• United Housing, Inc. is developing 17 homes with various designs to meet the diversity of different household needs across multiple neighborhoods in Memphis, Tennessee.
• Green Country Habitat for Humanity, Inc. is developing 23 homes through new construction across 5 highly distressed census tracts, including townhomes in Tulsa’s historic Kendall Whittier District, a community designated as one of seven Oklahoma Certified Cultural Districts by the Oklahoma Arts Council — an area bursting with creativity and community.

NMTCs for Homeownership IS Growing

Even as we take this time to celebrate projects that closed last year, our team is preparing for another milestone year for NMTC homeownership transactions.

• Affordable housing development was at the top of the U.S. Department of the Treasury’s highlighted focus areas for advancing its core mission through measurable outcomes when the CDFI Fund announced the 2024/2025 NMTC Allocation Awards in December.
• Both of our CDE partners, Housing Partnership Network and Community Housing Capital, received 2024/2025 NMTC Allocation Awards of $70 million and $85 million, respectively.

If you’re ready to get involved in a For-Sale Housing transaction — please get in touch!

Our team is ready to walk you through our well-established, comprehensive approach to identifying, structuring, closing, managing, and exiting an NMTC for-sale housing transaction! Your success is important to us.