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Chicago Office Tower Proposed for Conversion into 70 Apartments Amid Citywide Shift

Chicago Office Tower Proposed for Conversion into 70 Apartments Amid Citywide Shift

Chicago Office Tower Proposed for Conversion into 70 Apartments Amid Citywide Shift

Chicago Office Tower Proposed for Conversion into 70 Apartments Amidst Repurposing Trend

Chicago Office Tower Proposed for Conversion into 70 Apartments Amidst Repurposing Trend

Chicago Office Tower Proposed for Conversion into 70 Apartments Amidst Repurposing Trend

R2 Cos. and Lagfin Complete Office-to-Residential Conversion in Downtown Chicago

R2 Cos. and Lagfin Complete Office-to-Residential Conversion in Downtown Chicago

R2 Cos. and Lagfin Complete Office-to-Residential Conversion in Downtown Chicago

Banyan Street Capital to Transform Atlanta Financial Center into APEX Atlanta with New Apartments

Banyan Street Capital to Transform Atlanta Financial Center into APEX Atlanta with New Apartments

Banyan Street Capital to Transform Atlanta Financial Center into APEX Atlanta with New Apartments

Boston Proposes Exchange District to Facilitate Office-to-Residential Conversions with Historic Tax Credits

Boston Proposes Exchange District to Facilitate Office-to-Residential Conversions with Historic Tax Credits

Boston Proposes Exchange District to Facilitate Office-to-Residential Conversions with Historic Tax Credits

Governor Lamont Advocates for Converting Empty Fairfield County Offices into Housing, Two Greenwich Projects Underway

Governor Lamont Advocates for Converting Empty Fairfield County Offices into Housing, Two Greenwich Projects Underway

Governor Lamont Advocates for Converting Empty Fairfield County Offices into Housing, Two Greenwich Projects Underway

Synergy Transforms Vacant Massachusetts Office Tower into 198 Apartments, Adds Affordable Condos

Synergy Transforms Vacant Massachusetts Office Tower into 198 Apartments, Adds Affordable Condos

Synergy Transforms Vacant Massachusetts Office Tower into 198 Apartments, Adds Affordable Condos

Massachusetts Office Tower Converted into 198 Apartments and Affordable Condos

Massachusetts Office Tower Converted into 198 Apartments and Affordable Condos

Massachusetts Office Tower Converted into 198 Apartments and Affordable Condos

Chicago's Historic Rector Building Converted into 117 Apartments, Advancing Downtown Revitalization

Chicago's Historic Rector Building Converted into 117 Apartments, Advancing Downtown Revitalization

Chicago's Historic Rector Building Converted into 117 Apartments, Advancing Downtown Revitalization

R2 Cos. and Lagfin Complete First LaSalle Street Reimagined Office-to-Residential Conversion in Chicago

R2 Cos. and Lagfin Complete First LaSalle Street Reimagined Office-to-Residential Conversion in Chicago

R2 Cos. and Lagfin Complete First LaSalle Street Reimagined Office-to-Residential Conversion in Chicago

Senco Properties Plans Residential Conversion of Office Building at 601 S. LaSalle in Chicago

Senco Properties Plans Residential Conversion of Office Building at 601 S. LaSalle in Chicago

Senco Properties Plans Residential Conversion of Office Building at 601 S. LaSalle in Chicago

HUD Implements 'Express Lane' Initiative to Expedite FHA Financing for Experienced LIHTC Developers

HUD Implements 'Express Lane' Initiative to Expedite FHA Financing for Experienced LIHTC Developers

The U.S. Department of Housing and Urban Development (HUD) has launched the Low-Income Housing Tax Credit (LIHTC) Express Lane Initiative, effective immediately, through Mortgagee Letter 2026-13. This program aims to significantly reduce Federal Housing Administration (FHA) processing times for Section 221(d)(4) new construction loans, specifically targeting highly experienced LIHTC developers. The initiative introduces several key changes from the previous 2019 LIHTC Pilot program, including the removal of the deferred developer fee requirement and the elimination of the maximum project size limit of fewer than 200 units. Additionally, new-construction 4% LIHTC transactions with tax-exempt bonds are now eligible, and the maximum loan-to-cost (LTC) limit reverts to the standard 80% allowed under the Housing and Economic Recovery Act. The Express Lane also streamlines early deliverables and maintains a 30-day firm commitment timeline for complete applications. Eligibility is restricted to new-construction p...