low income housing tax credit

How Developers Build Affordable Housing and Make Money (Inside the Low Income Housing Tax Credit)

Affordable housing is one of the most talked-about subjects in real estate right now, and almost nobody understands how it actually gets built. Here's the puzzle: how does a developer pay market rate for the land, market rate for construction, and market rate for design, then turn around and rent that apartment for $1,100 a month and still make money?