Lauren M. Lyon-Collis

Columbia, MD Office

Lauren M. Lyon-Collis is a Firm Member who focuses on representing developers and housing agencies in complex multi-family housing development and mixed-use projects using mixed finance sources such as the tax credit equity, bond financing, Rental Assistance Demonstration (RAD) program,  private debt, FHA-insured financing, and project-based rental assistance, as well as other public-private partnership initiatives for acquisition and development. Lauren also represents lenders providing FHA-insured financing in multifamily and nursing facility projects.

Selected Recent Transactions

  • The development of two prominent mixed-use commercial and multi-family residential projects in Washington, DC using low income housing tax credit (LIHTC) equity, tax-exempt bond financing, and private investment and sponsor loan funds.  Lauren represented the private developer/owner of the Project.
  • The redevelopment of four multi-family housing developments in Baltimore, Maryland using a mix of LIHTC equity, RAD and project-based housing assistance payment (Section 8 HAP) contracts, City of Baltimore financing, FHA-insured 221(d)(4) loans, and Rental Housing Funds program loan from the Maryland Department of Housing and Community Development, representing the private developers/owners of the Projects.
  • The redevelopment of four multi-family housing developments in Cleveland, Ohio using RAD assistance, FHA-insured financing under the 221(d)(4) and 223(f) programs, LIHTC equity, HOME funds and housing authority financing representing the housing authority developer/owner of the Project.
  • The conversion of public housing units to Rental Assistance Demonstration Program (RAD) project-based voucher units as part of the development of new units in DeKalb, Georgia that included low-income housing tax credit (LIHTC) equity, construction financing, Neighborhood Stabilization Program (NSP) funds, housing authority financing using de-federalized HUD capital funds through RAD, and project-based voucher subsidy.
  • The development of 100 new units in Henderson, Nevada that included the conversion of 100 public housing units to Rental Assistance Demonstration Program (RAD) project-based voucher units, combined with FHA-insured financing under the 221(d)(4) program, tax exempt bond financing, HOME loan funds and housing authority financing. The Housing Authority served as the developer on the transaction and it was the first transaction in the country to combine FHA financing with the RAD program.
  • The redevelopment of two on-site phases of the Iberville/Treme Choice Neighborhoods revitalization project in New Orleans, Louisiana that included Choice Neighborhoods Implementation Grant funds, Capital Funds, Replacement Housing Factor funds, HOME funds, CDBG funds, LIHTC equity and project-based subsidy.

Major Prior Work Experience

  • District of Columbia Housing Authority, Office of General Counsel: Senior Real Estate Counsel, August 2009-September 2010. While working at District of Columbia Housing Authority (DCHA), Lauren provided legal counsel and supervision for real estate development matters for DCHA, including the development of seven projects funded with the Capital Fund Recovery Competition grants. She also represented DCHA in development, mortgage, lease, acquisition, and financing negotiations. Lauren prepared, reviewed and negotiated real estate and finance documentation and HUD submissions. She also managed real estate closings for mixed-finance, development and HAP contract matters and provided advice on structuring real estate transactions, federal regulatory and statutory requirements, corporate governance and taxation issues to DCHA.
  • Ballard Spahr, LLP: Associate, September 2006-July 2009; Summer Associate, June 2004-August 2004. At Ballard Spahr, Lauren represented a variety of housing authority and private-sector owner, developer and lender clients in complex real estate and business transactions and acquisition, development, leasing, financing, foreclosure, land use, tax and regulatory compliance issues. She also managed and closed approximately 30 mixed-finance and other development transactions that involved various private and public funding sources, including HOPE VI, Capital Fund, energy performance contracting, tax credits and bond financings. lt;/li>
  • Court of Appeals of Maryland: Judicial Clerk to the Honorable Glenn T. Harrell, Jr., August 2005-August 2006. As a judicial clerk, Lauren assisted in the preparation of appellate opinions of the Court of Appeals and provided recommendations to the Court based on legal research and analysis. She reviewed factual records and legislative history, and researched and analyzed statutes, regulations, rules, case law and the Maryland Constitution.

Speaking Engagements

  • Speaker, RAD Collaborative, on improving RAD and FHA financing tools and implementation for practitioners and governmental agencies, Washington, DC, April 2016.
  • Speaker, Closing issues in using FHA-insured financing with other mixed finance options, Eastern Lender’s Conference, Baltimore, MD, March 2016.
  • Co-Teacher, RAD Program, ABA Forum on Affordable Housing Spring Conference, New Orleans, LA, February 2016.
  • Speaker, on RAD and FHA Financing. Eastern Lender’s Conference, Baltimore, MD, March 2014.
  • Speaker, “A Primer on Using FHA-Financing in RAD Transactions.” NAHRO National Conference, Cleveland, OH. October 2013.
  • Panelist/Speaker, “Considerations for FHA-Insured Financing in Mixed-Finance Transactions for Public Housing,” Midwest Lenders Conference, 2011.
  • Speaker, Combining FHA-Insured Mortgage Financing and Mixed-Finance Public Housing Transactions, Midwest Lenders Conference, Cleveland, Ohio. May 2011.




  • Author, Energizing Efficiently the Affordable Housing Market: Current Incentives for Integrating Energy Efficiency and Solar Power in Mixed-Finance Transactions. Journal of Housing and Community Development, Volume 66, Number 4, July/August 2009.
  • Author, New Law Limits Amounts Retained Under Construction Contracts. Maryland State Bar Association Real Property Section – Ground Rules, Summer 2009.
  • Author, Risks in Construction: Fair Housing Exposure. American Bar Association Real Estate Litigation Committee Newsletter, Vol. 6, Issue 2, Summer 2008.

Awards, Community Activities and Professional Activities

  • American Bar Association; American Bar Association Forum on Affordable Housing, Community Development Law; Maryland State Bar Association; District of Columbia Bar Association
  • Baltimore Jewish Council, Leadership Development Program 2008-2009
  • Community Law Center of Maryland, Pro Bono Attorney Volunteer        
  • University of Maryland School of Law, Order of the Coif and Magna Cum Laude
  • University of Maryland School of Law, Community Scholar Prize and Public Interest Law Project
  • Goucher College, Eleanor Voss Law Fellowship and Dean’s List


University of Maryland School of Law, J.D., magna cum laude

  • Articles Editor, Maryland Law Review

Goucher College, B.A., graduated with distinction

Bar Admission

  • Maryland Bar
  • District of Columbia Bar


Atlanta, GA