Rhodes to Lead NEF Affordable Housing Investments
- Jul 01, 2011
Chicago–Rachel Rhodes has been selected to lead its National Equity Fund, Inc.’s Midwest affordable housing investments as its new regional vice president, based in Chicago. Rhodes has been with NEF, a national nonprofit syndicator of Low Income Housing Tax Credits, since 2007 and has been one of the company’s top acquisitions managers, partnering with Midwest developers to help structure and finance their LIHTC projects.
LIHTC developments utilize federal tax credits to help attract capital that funds construction or preservation of affordable rental housing for low-income families, seniors and special needs populations. Last year, NEF invested $835 million in LIHTC equity to develop 6,100 homes and create more than 11,000 jobs in struggling communities.
Prior to joining NEF, Rhodes was a vice president at JPMorgan Chase, where she focused on community development real estate. She also served in multiple positions at the Illinois Housing Development Authority, with five years in multifamily housing there.