The Latest on Real Property Tax Exemptions for Affordable Housing
1:30 PM - 2:20 PM Wed
Aaron Yowell represents private, public, and nonprofit developers of multifamily and transitional housing, as well as private equity investors and family offices, with a particular focus on projects with unconventional financing structures. Aaron works regularly with tax credits (including state and federal low-income housing and historic tax credits), real property tax incentive programs (including 421-a (a/k/a Affordable New York), Article XI, and 420-a), New York City Housing Authority PACT (Permanent Affordability Commitment Together) preservation, the Mitchell Lama Housing Program, and inclusionary housing. He advises clients in all aspects of project development, new construction, rehabilitation, and operation, including acquisitions, dispositions, regulatory matters, public and private financings, joint ventures, and investments.
Aaron often serves as lead counsel in several high-profile affordable housing transactions. Past transactions include the acquisition and refinancing of Spring Creek Towers, the largest HUD-subsidized property in the country, and several large affordable housing portfolio recapitalizations and dispositions. Aaron works on transactions nationwide, with projects located in New York, New Jersey, Pennsylvania, Virginia, and California.
In his capacity as Chief Innovation Officer, Aaron is responsible for innovation across all aspects of the firm’s activities. He uses leading-edge collaboration and other technology to deliver efficient and high-quality legal services, as well as working with clients on new approaches to building much-needed housing.