JPMorgan Chase, which is among the largest low-income housing tax credit (LIHTC) and New Markets Tax Credit (NMTC) investors in the country, is broadening its community development business with the creation of its Community Development Banking Capital Solutions Group.

The group, which was established in October 2021 and is led by Lionel Lynch, has one goal: to provide debt to help fund new types of affordable, workforce and mixed-income housing as well as community development projects. 

“We will provide debt for a range of projects that are not eligible for the LIHTC, those that are 80% plus of the area median income,” said Lionel Lynch, director of Community Development Banking Capital Solutions at JPMorgan Chase. “We want to build a platform to fill the significant gap between LIHTC and market-rate housing.”

Lynch looks forward to seeing the impact this group will have across the country.

“I am most looking forward to seeing housing being built, seeing communities be able to have diverse economic composition, and bringing housing to a range of people through this initiative,” said Lynch.

“The biggest challenge is the biggest opportunity: It’s exciting to start something new and to be in front of the industry, to enable different parties to understand we can do these projects if we adjust the way we think and the way we underwrite. We are here to do more and to empower folks to do the same.”  

Adapted with permission from “JPMorgan Chase’s New Endeavor, Led by Lionel Lynch, Will Help Finance Affordable Housing, Community Development” Mark O’Meara, Novogradac Journal of Tax Credits, March 2022

Connect with a banker

By checking the boxes below I consent to JPMorgan Chase using the personal data I have provided to send me:

Opting in for industry insights and invitations is not required to request that we contact you. Learn more about our data practices in our privacy policy.

Equal Housing Logo Credit is subject to approval. Rates and programs are subject to change; certain restrictions apply. Terms and conditions subject to commitment letter. Products and services provided by JPMorgan Chase Bank.

ABOUT THIS MESSAGE: J.P. Morgan, Chase and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its subsidiaries worldwide. In no event shall J.P. Morgan nor any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon, or for any inaccuracies or errors in or omissions from, the information herein. © 2023 JPMorgan Chase & Co. All rights reserved.