WNC affordable housing tax-credit fund ready to go

Costa Mesa, Calif.-based WNC & Associates Inc. has closed a $33.8 million tax-credit fund to finance the building of more than 380 affordable housing units in New York and New Jersey. The fund is the company's 57th tax-credit fund. WNC will partner with local developers to build three new developments: one in Elizabeth, N.J.; one in South Plainfield, N.J.; and one in New York. The fund will also be used to acquire and renovate six existing properties in the following locations: Bayonne, N.J.; Elizabeth, N.J.; Jersey City, N.J.; and in New York.