From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss CREA's record-breaking LIHTC fund closing.

• CREA closes largest-ever LIHTC fund at $403 million for affordable housing developments nationwide
• Fund reflects expanded pipeline from 12% OBBBA allocation increase and 25% bond threshold
• Investor base includes regional and national banks seeking CRA credit, insurance companies, and ESG-focused corporations
• Fund oversubscription indicates capital availability not currently constraining production
• Pricing in mid-80s to low-90s cents per dollar of credit, consistent with 2026 market trends
• Fund prioritizes high-opportunity areas and extremely low-income household projects
• Geographic diversity across Midwest, Southeast, and Western regions

For developers, the successful closing signals equity availability for well-structured deals throughout 2026. Key constraints remain gap financing and construction cost management.

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Keywords: CREA, Community Reinvestment Act, LIHTC fund, tax credit equity, syndicator, affordable housing investment, CRA credit, ESG, OBBBA, One Big Beautiful Bill Act, 25% bond threshold, 4% LIHTC, 9% LIHTC, investor appetite, credit pricing, high-opportunity areas, extremely low-income, gap financing, construction costs, Spring Street Management Group]]>