David Boccio is the head of the firm's affordable housing practice group and has over 30 years of experience with residential housing matters. David has extensive transactional experience with complex real estate financings involving the use of tax-exempt and taxable bonds backed by letters of credit, Fannie Mae/Freddie Mac credit enhancement, mortgage insurance and hedging products and bonds directly placed with private purchasers. David's transactions often include low income housing tax credits, historic tax credits, inclusionary housing zoning bonuses, real estate tax abatements and other federal, state or city affordable housing incentives. David's transactions frequently involve the inclusion of affordable housing in mixed-use developments which also contain market rate rentals, for-sale condominiums and commercial components. His transactions are collaborative ventures in which David works with developers, governmental agencies, lenders, credit enhancers, bond counsel and underwriters, bond purchasers, tax credit investors and joint venture partners among others to create a real estate development plan on terms agreed to by all parties.
David also assists clients who desire to acquire or sell properties, or their interests in property owners, such as housing tax credit portfolio or 80/20 mixed-use property acquisitions. He works with not-for-profit entities regarding the refinancing and operation of their affordable housing developments. David also provides advice to owners and property managers concerning their regulatory compliance requirements for affordable housing properties.
David has worked to include affordable housing in mixed-use developments located on the High Line and Hudson Yards in Manhattan and at Hunter's Point in Queens. He assisted with the preservation of the entirely affordable Marshall Field Gardens Apartments in Chicago, a Wall Street Journal “Deal of the Week” transaction. He also helped facilitate the sale of securities in Israel backed by real estate assets in the United States.
David has been a speaker at various bar association and affordable housing industry events.