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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Greystone Affordable Development Ranks as #1 Rural Affordable Housing Developer by Council for ...

September 2, 2021 GMT

NEW YORK, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Greystone Affordable Development, a national affordable housing developer, announced it has once again ranked as the #1 rural affordable housing developer for 2021 by the Council for Affordable and Rural Housing (CARH).

Greystone Affordable Development helps owners and property developers add to the nation’s affordable housing stock with its expertise in development management, construction, and finance structures. The team, led by President and CEO Tanya Eastwood, brings deep expertise in Low Income Housing Tax Credits, tax-exempt bonds, and government-backed funding available to help create and preserve thousands of affordable homes per year.

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In the past year, Greystone Affordable Development helped to develop 1,186 units across 35 properties, adding to its total of over 14,500 units across 12 states in rural areas of the U.S.

“The complications that the COVID-19 pandemic has created for affordable developers cannot be understated – it has caused a number of logistical and material supply issues, as well as extensive labor shortages and tightened financing,” said Ms. Eastwood. “The fact that our team persevered during this challenging time, finding new and creative ways to still make deals work for our clients shows that our end mission of providing safe and affordable housing in communities that desperately need it is what truly drives us each and every day.”

“We are honored for this recognition by CARH, an organization that’s near and dear to us, as we are deeply committed to the mission of creating and preserving affordable rural housing in the U.S.,” she added.

About Greystone Affordable Development
Greystone Affordable Development, an affiliate of Greystone, is a development and transaction management group that is focused on meeting the challenges associated with the creation, recapitalization, and preservation of affordable housing throughout the U.S. To date, the group has developed approximately 14,500 apartment homes with another 5,800 in various stages of completion in 12 states. The group’s mission is to create meaningful and significant impacts on communities by helping to provide low-wealth households with decent, safe affordable housing.

About Greystone
Greystone, together with its affiliates, is a private, national commercial real estate finance firm with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com