Trump Tax Law Is Surprise Boon for Affordable Housing Creation

A set of provisions tucked into President Donald Trump’s new tax-and-spending law has real estate developers and affordable housing proponents cheering – though some view it as a bittersweet victory.

The law makes significant changes to the Low-Income Housing Tax Credit, the New Markets Tax Credit and Opportunity Zones, three tax-based community development programs that housing groups and private sector investors broadly favor. The revamp is expected to spur construction of new apartment buildings and renovation of older ones, with housing analysts saying they could create as many as 1.2 million more affordable units over the next ten years than they would have if the programs had remained the same.