Over the last 15 years, Birge & Held has been fully committed to operating by our mission statement “investing in communities to transform lives” through the acquisition of Naturally Occurring Affordable Housing (“NOAH”) projects as well as the development of new Low Income Housing Tax Credit (“LIHTC”) communities.
NOAH
NOAH refers to residential rental properties that are affordable but not subsidized by any federal program. We are dedicated to providing affordable housing, which is evidenced by 97.6% of the Birge & Held portfolio deemed NOAH.
As a company, we recognize the strong impact improved housing has on a resident’s quality of life. With our partners, we are continually reinvesting in our portfolio while focusing on affordability.
To date, Birge & Held has invested nearly $4 billion into purchasing and developing NOAH deals across the nation.
This has resulted in a total of over 18,000 households served and the employment of nearly 800 team members. In addition, we’ve invested almost $175 million into improving communities through our same-day occupied renovation program.
LIHTC
A natural extension from the NOAH marketplace is the utilization of the LIHTC program to serve a wider range of residents. In 2019, Birge & Held established a development division that is dedicated to building new LIHTC communities. Our development team has closed on deals totaling 1,430 units at 7 properties in 4 states.
In June, we celebrated the groundbreaking of our newest LIHTC development, Athens Flats, in Athens, GA. This innovative community will feature 192 units including one-, two-, and three-bedroom apartments spread across six modern buildings and will be limited to residents earning 60% or less of the area median income.
