PNC Closes $175M LIHTC Fund to Back 1,500 Affordable Homes 

PNC Bank, N.A. has closed its Low‑Income Housing Tax Credit Fund 100, which will deploy more than $175 million to finance the development and rehabilitation of affordable rental housing nationwide. The multi‑investor fund includes capital from PNC and six additional financial services and insurance companies, broadening the institutional base behind new LIHTC projects. 

Proceeds from Fund 100 are expected to support nearly 1,500 affordable homes across 17 properties in 10 states and the District of Columbia, including California, Colorado, Georgia, Illinois, Maryland, Oregon, Tennessee, Texas, Virginia, Washington and Washington, D.C. The investments will help construct or preserve income‑restricted units for families and individuals in markets facing persistent housing shortages. 

“Through strong partnerships and innovative financing, we continue to expand access to safe, quality housing for families and individuals in communities across the country,” said Megan Ryan, senior vice president and manager of Tax Credit Equity Syndication for PNC Multifamily Capital.  

As of September 30, 2025, PNC Multifamily Capital manages approximately $15.8 billion in tax credit equity supporting more than 134,000 affordable rental units, 150 New Markets Tax Credit investments and 72 historic properties, alongside a $34 billion agency loan portfolio.