PNC Multifamily Capital Announces 100th Affordable Housing Fund; Driving Nationwide Impact

Core Insights - PNC Bank has closed its 100th Low-Income Housing Tax Credit (LIHTC) Fund, investing over $175 million to support the development and rehabilitation of affordable rental housing across the U.S. [1][2] - The fund will facilitate the construction or rehabilitation of nearly 1,500 affordable homes in 17 properties across 10 states and the District of Columbia, targeting families, seniors, and vulnerable populations [2][3]. Company Commitment - The establishment of the 100th LIHTC fund highlights PNC's long-standing commitment to addressing the affordable housing crisis in the U.S. [2][3] - PNC Multifamily Capital is recognized as one of the largest providers of affordable multifamily equity and both affordable and conventional debt in the industry [3]. Financial Overview - As of September 30, 2025, PNC Multifamily Capital manages approximately $15.8 billion in tax credit equity, supporting over 134,000 affordable rental units and maintaining a $34 billion agency loan portfolio [5]. Notable Projects - Rosenwald Pointe in Waynesboro, VA will provide 53 affordable family units with comprehensive supportive services [7]. - Marine Drive in Astoria, OR will offer 33 units, including 32 supportive housing apartments for individuals experiencing homelessness [7]. - 4345 Matilija in Los Angeles, CA will address the need for affordable housing and provide services to promote self-sufficiency and housing stability [7].