Introduction
Susanna Mitchell works with nonprofit and for-profit real estate developers and owners to develop and preserve multifamily and seniors housing. She negotiates and closes transactions involving multiple sources of financing for projects subject to various statutes and regulations.
My focus
Structuring and Closing Transactions
I typically represent purchasers and developers in acquiring, rehabilitating, constructing and/or refinancing affordable housing, but also represent sellers and lenders in these transactions. All of the transactions I close involve multiple funding sources and subsidies, and all of the projects I assist are subject to some form of local, state and/or federal oversight.
Joint Ventures
Most of the deals I close involve a partnership between a for-profit and a nonprofit or two for-profit participants in the transaction. I negotiate and draft joint venture and operating agreements between entities looking to share responsibility and allocate risk. Whether I am representing a nonprofit or for-profit, I enjoy engaging in early structuring conversations with my clients to offer a perspective on industry norms and best practices.
Low-income Housing Tax Credits (LIHTCs)
The projects I work on typically involve a combination of debt and equity financing. Most of the projects receive tax-exempt bond proceeds and low-income housing tax credits (LIHTCs), and many receive some sort of soft debt from a local, state or federal program. I have also closed transactions combining LIHTCs with new markets tax credits and historic rehabilitation tax credits.
Federal Housing Administration (FHA)
I often represent borrowers and lenders in closing loans insured by the Federal Housing Administration (FHA). My prior experience as an attorney for the U.S. Department of Housing and Urban Development (HUD) informs and inspires this work. While at HUD, I helped close the largest multifamily loan in the history of the FHA. The closing required unprecedented collaboration between the city, state and federal governments, and resulted in 35 more years of affordable housing for nearly 15,000 residents of the Bronx, as well as much needed capital improvements.
My transactional practice is focused on New York, New Jersey and the Washington, DC, area.
Obtaining Regulatory Approvals
I also work with developers and owners to identify and obtain necessary regulatory approvals to ensure a smooth closing for projects located across the U.S. These range from local approvals such as tax abatements to federal approvals from HUD. I have recent experience obtaining approvals from HUD for the assignment of Section 8 contracts, the decoupling of Section 236 Interest Reduction Payments, the conversion to project-based rental assistance under the Rental Assistance Demonstration (RAD) program and the transfer of an FHA-insured loan. I take pride in maintaining strong relationships with HUD officials and keeping up to date on the latest policy guidance to make sure my approval requests are processed efficiently.
Looking ahead
Certain major cities are making an unprecedented commitment to the development of affordable housing. In both Washington, DC, and New York City, new programs and additional funding will provide an opportunity for developers and owners to access and combine resources in ways that have not been done before.
/Insights
- “Fundamentals of Affordable Housing Development: The Rise,” Annual Upstate New York State Affordable Housing Conference, May 16, 2024 (Speaker)
- “New Construction (Part I) Case Studies,” Annual New York State Affordable Housing Conference, May 17, 2023 (Speaker)
- “Portfolio Assessment and Strategies: Evaluating the Market for Property Dispositions at Year 15,” IPED’s 2022 Tax Credit Property Dispositions Conference, Philadelphia, PA, July 28, 2022
- “Tips and Tricks to Representing Non-Profits,” 2022 Forum on Affordable Housing Annual Meeting, May 26, 2022 (Speaker)
- “Affordable Housing: Finance and Development,” Bisnow Multifamily Annual Conference East, Washington, DC, November 28, 2017 (Moderator)
- “Portfolio Assessment and Strategies— Part II— Developer Perspective Panel,” IPED Conference: Tax Credit Property Dispositions Conference, Cambridge, MA, March 30, 2017 (Moderator/Speaker)
- “FHA Multifamily Update: Issues and Opportunities,” HAND Symposium, Washington, DC, September 8, 2016 (Moderator)
- “Novel Approaches to Using New Markets Tax Credits,” National Housing and Rehabilitation Association New Markets and Historic Tax Credits Symposium, Edgartown, MA, July 20, 2016 (Speaker)
- “Preservation Transactions,” IPED Conference: Transforming Communities with Affordable Housing: Ohio and Beyond, Cleveland, OH, June 30, 2016 (Moderator/Speaker)
- “What Borrowers Need to Know About FHA’s Revised MAP Guide,” Nixon Peabody webinar, June 15, 2016
- “Navigating Cross Cutting HUD Approvals,” presentation at the American Bar Association Forum on Affordable Housing and Community Development Law, Washington, DC, May 22, 2015 (Speaker)
- “Federal Housing Administration Multi-Family Housing Transactions,” Lawline CLE webinar, June 13, 2014
In the news
- Law360
Four firms guide $445 million deal to renovate Harlem public housing
Jan 13, 2025This article covers a $445 million financing deal for the renovation and revitalization of the New York City Housing Authority’s Manhattanville Houses residential complexes. Affordable Housing & Real Estate partners Meghan Altidor of New York City and Susanna Mitchell of Washington, DC are mentioned in the coverage for representing borrower Manhattanville Owner LLC in this transformative affordable housing deal.
- Law360
New York City real estate week in review
Aug 5, 2024This article highlights firms that guided the largest recent New York City real estate deals in public records. New York City Affordable Housing & Real Estate partner Ruben Ravago is mentioned for guiding the buy side in a roughly $26.3 million deal, which included a venture of Cloth Pillars I Housing Development Fund Corp. and Monad Pillars I LLC who sold 111-115 and 148 W. 141st St. to a venture that includes Wave 141st Street LLC. The NP deal team also included AHRE partner Susanna Mitchell of Washington, DC and associate Avery Ryou of New York City.
- Connect CRE
Rockport Provides HUD Refi on Queens Senior Housing
The firm was mentioned in this article on the FHA Section 223(f) refinancing loan for Israel Senior Citizen Housing I and II, an apartment complex for the elderly in the Far Rockaway neighborhood of Queens, NY. Washington, D.C. partner Susanna Mitchell and New York City strategic policy advisor Deborah VanAmerongen, both of the Affordable Housing & Real Estate group, advised JASA Corporation in the deal.Dec 18, 2020 - Real Estate Weekly
Rockport Closes on $74M Refi' to Upgrade Queens Senior Housing
The firm was mentioned in this article on the FHA Section 223(f) refinancing loan for Israel Senior Citizen Housing I and II, an apartment complex for the elderly in the Far Rockaway neighborhood of Queens, NY. Washington, D.C. partner Susanna Mitchell and New York City strategic policy advisor Deborah VanAmerongen, both in the Affordable Housing & Real Estate group, advised JASA Corporation in the deal.Dec 16, 2020 - NJBiz
Joint Venture Buys Jersey City Affordable Apartment Portfolio for $127M
This article mentions the firm for representing Hudson Valley Property Group LLC in its partnership with Nuveen Investments for the purchase of a 412-unit affordable apartment portfolio in Jersey City. The deal team included New York partner Aaron Yowell and strategic policy advisor Deborah VanAmerongen, Boston partner Chris Froeb, and Washington, D.C. partner Susanna Mitchell, all of the Affordable Housing & Real Estate group.Oct 22, 2020 - Affordable Housing Finance
Hudson Valley Property Group and Nuveen Acquire New Jersey Portfolio
This article mentions the firm for representing Hudson Valley Property Group LLC in its partnership with Nuveen Investments for the purchase of a 412-unit affordable apartment portfolio in Jersey City. The deal team included New York partner Aaron Yowell and strategic policy advisor Deborah VanAmerongen, Boston partner Chris Froeb, and Washington, D.C. partner Susanna Mitchell, all of the Affordable Housing & Real Estate group.Oct 21, 2020 - Real Estate Weekly
Nuveen JV buys 400-unit affordable apartment portfolio
This article mentions the firm for representing Hudson Valley Property Group LLC in its partnership with Nuveen Investments in the purchase of a 412-unit affordable apartment portfolio in Jersey City. The deal team included New York partner Aaron Yowell and strategic policy advisor Deborah VanAmerongen, Boston partner Chris Froeb, and Washington, D.C. partner Susanna Mitchell, all of the Affordable Housing & Real Estate group.Oct 13, 2020 - Bisnow
D.C. Opportunity Zone Developer Closes Financing, To Break Ground Soon On 191 Apartments
This article, which mentions NP for representing the developer in the transaction, covers a $50 million financing deal that enables construction of a new 191-unit residential building in Northeast Washington, D.C. The deal team included Washington, D.C. partner Susanna Mitchell, New York City partner Meghan Altidor, and Boston associate Alexander Rosso, all of the Affordable Housing and Real Estate group.April 24, 2020 - Law360
NYC Real Estate Week in Review
Washington DC Affordable Housing & Real Estate partner Susanna Mitchell is mentioned in this article for her representation of the Jewish Association Serving the Aging in a $21 million real estate transfer between two of its entities.March 4, 2019 - Affordable Housing Finance
Nixon Peabody promotes 4 to partner
The promotions of new Nixon Peabody partners Ed Campbell, Nate Cushman, John Marti and Susanna Mitchell are mentioned in this roundup of notable career moves.Feb 12, 2019 - Bisnow
Affordable housing developers, financiers worried about potential effects of tax reform
Washington DC affordable housing associate Susanna Mitchell was quoted in this article for her outlook on how a decrease in the corporate tax rate could make it more difficult to strike deals with investors for affordable housing projects.Nov 28, 2017
Admitted to practice
Virginia
District of Columbia
Education
New York University School of Law, J.D.
Emory University, B.A.
Insights And Happenings
View AllProfessionals in the Practice Area
View AllAaron J. Yowell
Partner / Chief Innovation Officer- New York
- Office:+1 212.940.3161
- ayowell@nixonpeabody.com
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Deborah VanAmerongen
Strategic Policy Advisor / Deputy Practice Group Leader, Affordable Housing & Real Estate- New York
- Office:+1 212.940.3054
- dvanamerongen@nixonpeabody.com
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