EXFOOTBALLSTAR.COM (beta)

Tiki Barber, the former Pro Bowl NY Giant running back, through his Tiki Ventures company, recently joined a venture with a New York real estate developer in order to preserve and invest in the U.S. affordable housing market.

Typically real estate ventures invest in affordable housing projects because they allow investors to profit by selling tax credits awarded to them by the government to corporations.  The new venture between Related Cos. and Tiki Ventures will partner with Centerline Capital Group to buy and fix up older affordable housing developments, and Centerline plans to buy and sell the credits.

Preliminary project plans indicate that the venture will buy and fix up more than 3,500 residential units for families of low to moderate income in Virginia and North Carolina.

Reuters quotes Barber on the deal saying "I think it's a great synergy for what my principles are for giving back to communities," ... "But also it's an opportunity to be in business with a titan in the industry."

[Photo above from nycphoto.interactivenyc.com]

 

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