The Landmark Group has been awarded a $5,000 grant from the Affordable Housing Tax-Credit Coalition for a residential and commercial development project in Kinston.

Nantucket Lofts, a $5.1 million project by Landmark that opened in February 2005, was recognized by the coalition as the most outstanding affordable housing tax-credit property in a rural area in 2005. Nantucket Lofts is a former tobacco center, and a historical significant building.

Landmark, based in Charlotte, remodeled the building's interior to provide low-income housing throughout most of the project, with space for commercial development on the lower level.

The Affordable Housing Tax Credit Coalition is a non-profit group of developers, syndicators, lenders, nonprofit groups, public agencies, and others concerned with the low-income housing tax credit.

The Washington-based coalition plays a major role in assuring the continuance of the low-income housing tax credit. The coalition was founded in 1988 with the goal of achieving permanent extension of the low-income housing tax credit program.

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