WPC and construction partners celebrate the Topping Out of Madison Highlands, an affordable senior housing community in Hillsborough County, Florida. In the construction industry, topping out is a builders' rite traditionally held when the last beam is placed atop a structure.
In coordination with development partners American Residential Communities (ARC) and New South Residential, LLC, WPC is the general contractor leading the 102-unit LIHTC senior community which is on schedule for a 2021 completion. This is WPC’s fourth Low-Income Housing Tax Credit (LIHTC) project for this developer. For leasing information about this exciting new community visit www.americanresidentialcommunities.net/madison-highlands.
“We work with many clients utilizing the Low-Income Tax Credit program and are in sync with the complexities related to the approval process and with the many development and construction compliance standards” Jeff Forrest, President, Winter Park Construction.
The Low-Income Housing Tax Credit (LIHTC) is a resource for creating affordable housing in The United States. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.
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