Nixon Peabody Advises in Award Winning Affordable Housing and Mixed-use Development; Michigan’s Park Place City Center recognized for Financial Innovation

Nixon Peabody Advises in Award Winning Affordable Housing and Mixed-use Development; Michigan’s Park Place City Center recognized for Financial Innovation

Washington, DC. – January 19, 2012 – (RealEstateRama) — Nixon Peabody LLP advised client G. A. Haan Development in the Park Place City Center, an affordable, 24-unit mixed-use Michigan development, which has been awarded a Development of Distinction Award, Honorable Mention, in the Financial Innovation category by the Novogradac Journal of Tax Credits. The annual award recognizes excellence and honors outstanding achievement in the development of projects using low-income housing tax credits and/or Section 1602 funds. Nationwide, only two developments are chosen to receive the award each year.

The Nixon Peabody legal team advised G. A. Haan Development on the Park Place project, which was the first Section 1602 project to close in the state of Michigan. Nixon Peabody advised G. A. Haan on a variety of sources necessary for the project’s success including Section 1602 Exchange Funds, state historic tax credits, “enhanced” state historic tax credits, federal historic tax credits, Brownfield/Michigan Business Tax Credits, and a general partner contribution for the repurchase of commercial space.

The Nixon Peabody legal team was led by Tax Credit Finance & Syndication partner David Schon.

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Nixon Peabody LLP is recognized as a "Global 100" law firm-one of the largest in the world. With 800 attorneys collaborating across major practice areas in 17 cities, including Boston, Chicago, London, Los Angeles, New York, Paris, Rochester, San Francisco, Shanghai, Silicon Valley, and Washington, DC, the firm's size, diversity, and advanced technological resources enable it to offer comprehensive legal services to individuals and organizations of all sizes in local, state, national, and international matters.

Nixon Peabody LLP was recognized as one of FORTUNE magazine's "100 Best Companies To Work For(r)" three years in a row.  The firm has also been named to the Human Rights Campaign's 2010 "Best Places To Work For LGBT Equality" list.

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