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Cinnaire closes $340M fund for affordable housing, including Wilmington’s Imani Village

Claudia EstradaBusiness, Headlines

Cinnaire has announced the closing of a $340 million Low-Income Housing Tax Credit (LIHTC) multi-investor fund, the largest in its 32-year history. Known as Fund 43, the investment will support the development and preservation of affordable housing across 11 states, including a major project in Wilmington.  The fund will finance 33 developments, resulting in 2,455 affordable housing units and benefiting more …

NCCo impact fees

New Castle County raises impact fees for new construction

Ken MammarellaBusiness, Government, Headlines

The impact fees New Castle County charges developers to partly pay for the resulting increased costs of public services are going up significantly for the first time since 1999. A bill just passed by New Castle County Council will index the fees, by 2028, to the annual Engineering News Record Construction Cost Index. “As numerous developments have come online over …