History Established in 1971

We’ve been a leader in the affordable housing industry throughout its history, spending much of that time making the history. Our success always has been based on our ability to recognize new opportunities and capitalize on them quickly, helping our partners create communities across the country with the needed affordable housing and commercial developments.

1968

President Johnson signs Housing and Urban Development Act, creating incentives for developing affordable housing.

1971

WNC founded and closes first affordable housing fund. Investors receive tax deductions.

1982

WNC closes first "two-tier" fund structure now used throughout the industry.

1983

WNC closes first SEC-registered fund in affordable housing.

1986

Congress passes Tax Reform Act, creating the Low-Income Housing Tax Credit (LIHTC).

1987

WNC closes 22 transactions in the first full year of the LIHTC program.

1988

California creates first state tax credit program. WNC closes seven CA tax credit funds in the first year of the state program.

1993

President Clinton signs into law the Revenue Reconciliation Act of 1993, making LIHTC permanent.

1994

WNC closes first institutional fund.

1997

WNC portfolio reaches $1 billion.

2000

WNC closes its first in a series of 23 NY and CA state Community Reinvestment Act (CRA) funds.

2002

WNC receives $50 million New Markets Tax Credit (NMTC) award in the first year of the program.

2008

WNC receives its 3rd NMTC allocation.

2011

WNC celebrates 40th anniversary; receives fourth NMTC allocation.

2015

WNC portfolio reaches $7 billion.

2016

WNC celebrates 45th anniversary.

2017

WNC closes California Preservation Equity Fund (cash-on-cash fund)

2021

WNC celebrates 50th anniversary.