SAN FRANCISCO — Gary Downs used to think affordable housing was recession-proof. But during this downturn, even the San Francisco public finance attorney went through a period when he couldn’t close deals.
Downs, who joined Nixon Peabody as partner on Sept. 7 after serving as the head of Pillsbury Winthrop Shaw Pittman’s public-finance practice since 2006, said last year’s American Recovery and Reinvestment Act, which had significant amounts of money earmarked for affordable housing, helped a great deal to fill the holes. This year is better, he said: “There are now sources of loans and equity out there to do the deals.”
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