ADFA awards $13.3 million in Low Income Housing Tax Credits to create 698 affordable housing units across Arkansas
12 developments selected from statewide competitive application round; projects span six counties and four congressional districts
LITTLE ROCK, AR (May 28, 2026) – The Arkansas Development Finance Authority (ADFA) announced at its May board meeting the recipients of the 9% Low Income Housing Tax Credits (LIHTC) for 2026, awarding $13.3 million in annual federal tax credits to 12 developments poised to create 698 affordable housing units across the state. Unlike a one-time grant, tax credits are claimed annually over a 10-year period, meaning this year’s $13.3 million award represents approximately $133 million in total investment.
The awards were approved by ADFA’s board of directors following a competitive application process administered by ADFA’s Tax Credit Division. Twelve applications were selected from 13 total submissions requesting $14.5 million in annual credits. Approximately $1.97 million in remaining credits will carry forward to 2027.
“These awards represent a direct investment in Arkansas communities that need it most,” said Ro Arrington, President of the Arkansas Development Finance Authority. “The 9% LIHTC program is one of the most effective tools we have for creating quality affordable housing, and this year’s pool of projects reflects both the depth of demand and quality of the developers working in our state.”
About the 9% Low Income Housing Tax Credit Program
The LIHTC program, administered federally by the Internal Revenue Service and allocated in Arkansas by ADFA, provides tax credits to developers of affordable rental housing. Investors purchase the credits, generating equity that reduces the need for debt financing, making it feasible to build and operate housing affordable to low- and moderate-income households.
In addition to tax credits, several 2026 recipients will receive supplemental funding through ADFA’s HOME Investment Partnerships Program and the National Housing Trust Fund (NHTF), which further reduces development costs and extends affordability to households with the lowest incomes.
9% LIHTC Award Recipients for 2026
The following developments were selected to receive 9% Low Income Housing Tax Credit reservations for 2026:
Avalon at Mabelvale | Pulaski County | 60 affordable units Domera Development, LLC | Garden Apartments | New Construction Tax Credits: $1,222,100
Avalon Villas at Mabelvale | Pulaski County | 62 affordable units (elderly) Domera Development, LLC | Row/Townhouse | New Construction Tax Credits: $1,247,400
Briley Manor | Pulaski County | 71 affordable units (elderly) Phillips Development Corp. | Row/Townhouse | New Construction Tax Credits: $1,250,000 | HOME: $3,000,000 | NHTF: $1,000,000
Enclave Estates at Magnolia | Columbia County | 60 affordable units Cubit Development Group, LLC | Row/Townhouse | New Construction | Non-Profit Tax Credits: $1,241,900
Enclave Estates at Trumann | Poinsett County | 60 affordable units Cubit Development Group, LLC | Garden Apartments | New Construction Tax Credits: $1,222,100
Iron Wheel Mountain Home | Baxter County | 60 affordable units W-HOMES LLC | Garden Apartments | New Construction | Non-Profit Tax Credits: $1,188,000 | HOME: $2,010,106 | NHTF: $563,632
Mountain Home Senior Estates | Baxter County | 64 affordable units Upward Housing Group I LLC | Row/Townhouse | New Construction Tax Credits: $1,232,000 (federal) + $246,400 (state) | HOME: $1,642,800
Newport Apartments | Jackson County | 42 affordable units Trinity Development, LLC | Garden Apartments | Acquisition/Rehabilitation Tax Credits: $572,000
Orchards at Little Rock | Pulaski County | 63 affordable units (elderly) Garth Development | Garden Apartments | New Construction Tax Credits: $1,234,200 | HOME: $2,000,000
Spring Creek Flats | Washington County | 24 affordable units Community Development NWA | Garden Apartments | New Construction | Non-Profit Tax Credits: $466,400
Sullivan of Fayetteville | Washington County | 60 affordable units VH Development, LLC | Garden Apartments | New Construction Tax Credits: $1,207,800 | HOME: $3,000,000
Vineyards at Little Rock | Pulaski County | 65 affordable units Garth Development | Garden Apartments | New Construction Tax Credits: $1,250,000 | HOME: $2,000,000
2026 Award Totals
| Program | Amount |
| 9% LIHTC (Federal) | $13,333,900 |
| 9% LIHTC (State) | $246,400 |
| HOME Investment Partnerships | $13,652,906 |
| National Housing Trust Fund | $1,563,632 |
| Total Affordable Units | 698 |
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About ADFA
The Arkansas Development Finance Authority is Arkansas’s State Housing Finance Agency, providing financing solutions that expand access to homeownership and affordable rental housing for Arkansans. ADFA administers the StartSmart and Move-Up mortgage programs for homebuyers and manages federal housing programs including the Low-Income Housing Tax Credit, HOME Investment Partnerships Program, National Housing Trust Fund, and Community Development Block Grant – Disaster Recovery. For more information, visit adfa.arkansas.gov.
Contact:
Derrick Rose
Director of Communications
Arkansas Development Finance Authority
derrick.rose@arkansas.gov
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