Angela M. Christy

Partner
Minneapolis

Angela Christy is an affordable housing attorney located in Minneapolis who provides strategic and creative legal counsel that helps drive efficient tax credit transactions. She focuses on housing—particularly affordable housing—projects and community development matters on behalf of nonprofit and for-profit developers, investors, and government entities. She has handled more than 300 Low Income Housing Tax Credit (LIHTC) transactions throughout the United States.

Angela assists developers in ensuring that their financing sources are compatible and properly structured to meet tax credit requirements. She focuses on creating real estate structures for mixed-use projects that align with the financing, often resulting in the use of condominiums, vertical subdivisions, ground leases, and reciprocal easement agreements.

Through the use of bonds, tax credits, government funding sources, and other affordable housing instruments, Angela has aided developers in innovative housing and mixed-use developments. She also has represented lenders and investors in tax credit projects.

Experience 

Representative Matters

  • The Sound on 76th – An affordable housing project in Edina, Minnesota. The site was the former Flyte Tyme Studios, a building associated with the development of the Minneapolis Sound and Jimmy Jam Harris and Terry Lewis. The financing of the 70-unit affordable housing project involved seven different loans from the Minnesota Housing Finance Agency, Hennepin County, and the City of Edina, as well as LIHTCs. The total project cost was over $22 million.
  • 3301 Nicollet Limited Partnership – The development of a 64-unit affordable housing project in Minneapolis. Financing included loans from the City of Minneapolis, Hennepin County, and the Federal Home Loan Bank. The total development cost was over $16 million. There was over $11 million equity contributed by an investor based on the LIHTCs allocated to the project.
  • Cranberry Ridge – A 45-unit Cranberry Ridge Housing project in Plymouth, Minnesota. Financing included a $10.8 million construction loan from a bank, loans for the City, Hennepin County, and the Greater Minnesota Housing Fund, as well as LIHTCs. The total development cost was more than $16 million.
  • Blooming Meadows – A two-phase project in Bloomington, Minnesota. The first phase involved acquisition of a 306-unit NOAH (Naturally Occurring Affordable Housing) project with a $40 million loan and $7 million financed with tax increment financing from the City. The property was then subdivided and the excess land was used to develop a 207-unit affordable housing project for families, using a $27 million interim tax-exempt bond loan backed by a Freddie Mac TEL takeout, a $4.4 million loan from the City, a $3.44 million seller loan and $14 million of equity based on 4% LIHTCs.

Professional Highlights

Pro Bono Experience

Angela is a Minnesota State Bar Association (MSBA) Pro Bono All Star (attorneys who have provided 50+ hours pro bono for at least eight years).

Professional Activities

ABA Forum on Affordable Housing and Community Development Law, past Chair

Minnesota Certified Real Property Specialist

American College of Real Estate Lawyers (ACREL)

Recognition & Accomplishments

Chambers USA – Minnesota, Real Estate, 2008-2022

BTI, Client Service All-Star, 2020

Minnesota Monthly, Best Real Estate Lawyer in Minnesota, 2018

Speaking Engagements

Angela speaks frequently both locally and nationally and has co-chaired the Minnesota Real Estate Institute for more than 20 years.

Publications

Angela is a co-editor of the Minnesota Real Estate Purchase and Sale Deskbook. She is also a contributor to the Minnesota Boundary Law Deskbook.

Angela wrote a chapter on Structuring Mixed Use Developments for the Legal Guide to Affordable Housing Development published by the ABA.

Credentials 

Education

University of Minnesota Law School (J.D., cum laude, 1981)

North Dakota State University (B.A. 1978)

Admissions

Minnesota

North Dakota