Boston Financial has closed Boston Financial Institutional Tax Credits 63 Limited Partnership, a $191 million multi-investor Low-Income Housing Tax Credit fund that will support the creation or preservation of 1,342 affordable rental homes across 12 states.
The fund, known as ITC 63, secured commitments from seven institutional investors and will deploy capital alongside 14 affordable housing developers across 16 communities. The investments will support both new construction projects and preservation efforts for existing affordable housing.
Boston Financial said several developments in the fund will serve populations including seniors, veterans, people with physical or mental disabilities, and formerly unhoused individuals and families.
One of the developments is Choice Landing in Crestwood, Kentucky, which is being developed by nonprofit organization Pillar. The project is expected to provide 72 affordable homes designed to serve adults with intellectual and developmental disabilities.
Boston Financial estimates that projects supported by ITC 63 will create 2,210 jobs, generate approximately $249 million in wages and business income, and contribute nearly $90 million in tax revenue to local communities.
The fund also benefits from the support of Boston Financial’s parent company, ORIX USA. Boston Financial said ORIX USA’s balance sheet provides additional flexibility and execution capabilities for its affordable housing platform.
Boston Financial has operated in the Low-Income Housing Tax Credit market since the program’s creation in 1986. The firm said it has worked with more than 200 investors to preserve or build over 420,000 affordable homes.
Boston Financial currently manages more than $16.8 billion in affordable housing equity. The firm was founded in 1969 and was acquired by ORIX Corporation USA in 2016.
ORIX USA is a diversified investment and asset management firm focused on credit, real estate, private equity, and managed solutions for middle-market borrowers and investors. The company and its subsidiaries manage $38.8 billion in assets and commitments as of September 22, 2026.
KEY QUOTES:
“ITC 63 reflects the strength of the relationships we have built with both our investor and developer partners over many years. We are deeply grateful for the trust our investors place in us and for the extraordinary work our developer partners do every day to bring affordable housing to communities across the country. Their commitment, creativity, and perseverance are making a meaningful difference in the lives of thousands of families, and we are honored to work alongside them in addressing our nation’s housing challenges.”
Rob Golden, CEO Of Boston Financial
“The affordable housing industry succeeds because of collaboration. Each investment in ITC 63 represents a shared commitment among investors, developers, public agencies, and community members to expand and preserve affordable housing opportunities. We are thankful for the confidence our partners continue to place in Boston Financial and proud to help connect capital with high-quality developments that will create lasting impact in communities for years to come.”
John Schromm, Senior Managing Director And Co-Head Of Investor Capital At Boston Financial
“The support of ORIX USA continues to be a meaningful advantage for our clients and partners. Their commitment to affordable housing and willingness to deploy capital alongside our platform helps us deliver more flexible and creative solutions in an increasingly complex market environment. That support strengthens our ability to serve investors, support developers, and ultimately help finance more affordable housing across the country.”
Mark Tolliver, Senior Managing Director And Co-Head Of Investor Capital At Boston Financial
