What Does PFC Mean in Multifamily Real Estate?

What Does PFC Mean in Multifamily Real Estate?

In the context of multifamily real estate, "PFC" typically refers to Public Facility Corporations (PFCs). PFCs are government entities that collaborate with private developers to create housing, often focused on affordability or workforce housing. These partnerships typically offer tax exemptions or other financial incentives, making the housing more affordable. PFCs play a key role in increasing the availability of affordable housing by reducing the financial burden on developers.

When someone asks if there are "affordable and/or PFC components," they are likely inquiring whether the market includes housing that is either classified as affordable or has been developed with the involvement of a PFC, which could mean the housing might be more affordable due to the benefits provided by the PFC partnership.