Novogradac Named to Affordable Housing Hall of Fame

Michael Novogradac

Michael Novogradac

Michael Novogradac, MP of San Francisco-based Novogradac & Company (FY15 net revenue of $117.1 million), and a pioneer in the modern affordable housing industry, is one of four 2016 inductees to the Affordable Housing Hall of Fame.

The four newest members will be recognized Nov. 15-17 in Chicago at the Affordable Housing Finance Live: The Affordable Housing Developers Summit.

Other honorees are Sen. Maria Cantwell, D-Wash.; Tony Salazar of development firm McCormack Baron Salazar and longtime housing leader and philanthropist J. Ronald Terwilliger.

“Michael Novogradac has helped shape not only how the business of affordable housing is conducted, but how the entire industry functions,” says Rick Hutchins, a member of the firm’s executive team. “He has contributed to the progress and growth in nearly every aspect, from assisting a range of clients to influencing legislation to educating the affordable housing community and policymakers.” Novogradac & Company has been named a 2016 IPA Best of the Best firm.

In announcing his selection, Affordable Housing Finance lauded Novogradac’s leadership in the industry and his firm’s role as “a major industry resource through books, conferences, podcasts and advocacy efforts.”

Novogradac’s selection was applauded in the affordable housing industry.

“Michael has been a spokesman and advocate for the low-income housing tax credit for decades,” says Michael Costa, president and CEO of Highridge Costa Companies, a longtime client and colleague. “This honor is overdue. Michael educates thousands of people every year. He’s an icon in the business.”

David Sebastian, president of The Wentwood Companies, whose relationship with Novogradac began in the 1980s, echoed Costa’s praise.

“From an industry perspective, Michael is one of our greatest technicians,” says Sebastian. “In addition, he has been a strong business developer and leader within the Novogradac platform. When you combine that with the fact that he’s really done a tremendous service to our industry in terms of his legislative work in Washington D.C., in solidifying the position of the housing tax credit, the new markets tax credit and other tax-advantaged investments, he is truly unique. The industry should be grateful for what he does.”

The four new selections bring the membership in the Affordable Housing Hall of Fame to 52, representing elected officials, members of the executive branch, major developers, industry leaders, state agency administrators and housing advocates.