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Learning From the Greystone Affordable Development Case


  • November 16, 2017

Columbia partner Ray Jones wrote a guest article in Law360 analyzing a massive affordable housing deal that Parker Poe helped orchestrate.

After noting how developers in South Carolina and across the country are having a difficult time making the numbers work for affordable housing, he described the solution that Greystone Affordable Housing and Boyd Management demonstrated recently. They closed a complex, multimillion-dollar deal in late July that will result in the rehabilitation of hundreds of low- to moderate-income housing units throughout South Carolina.

Ray detailed how the transaction couples a tax-exempt bond deal with a federally guaranteed long-term loan in order to secure the lowest financing cost possible. He and his team handled the tax-exempt bond part of the deal. Parker Poe has a long history of serving as bond counsel in the Carolinas, working with local governments to get bonds approved and handle tax diligence.

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