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Richard E. Walters


Spencer Fane attorney Richard Walters

Richard Walters is a partner in the Spencer Fane Real Estate group, where his national practice focuses on real estate development, finance and construction, including the use of financial incentives, tax credits and private equity for commercial real estate developments and housing projects.

Incentives/Tax Credit Programs

Richard represents for-profit and nonprofit developers, tax credit investors and construction, permanent and equity lenders in all types of tax credit transactions, and has been active in the LIHTC program since 2004. Richard’s tax credit practice includes low-income housing tax credits, renewable energy tax credits, historic rehabilitation tax credits and various state tax credits. Richard has served as counsel to parties in every role of tax credit financing transactions and has a comprehensive understanding of the various competing interests that need to be navigated.

Renewable Energy Programs

Richard also represents developers, investors and lenders in renewable energy projects, including solar projects. Richard’s representation on solar projects includes representation of lenders in construction and permanent solar loans, including use of guaranteed loan programs, and investors in solar projects which utilize the Investment Tax Credit program.


Richard regularly represents community, regional and national banks in financing transactions involving national and local commercial real estate developments, HUD and guaranteed loan programs, tax credit and incentive based development loans.

Commercial Real Estate

Richard also counsels clients on all aspects of commercial real estate development and finance, with particular focus on acquisition, disposition, development and management hotels, mixed use projects and multi-family developments.

Construction and Development

Richard maintains a national construction and development practice with specific experience in the hospitality sector, sports arenas and stadiums, mixed-use commercial developments and multi-family projects. Richard represents national contractors, large subcontractors and suppliers on projects that tend to have a major impact on the economy.

Civic Involvement

  • Development Board Member for Springfield Catholic Schools
  • Board Member of the Hamels Foundation
  • Past Chair and Board Member of the Lost & Found Charitable Organization


  • Office Managing Partner of the Springfield, Missouri office of Spencer Fane LLP
  • Missouri Lawyers Weekly, Law Firm Leader Award, 2016
  • Best Lawyers in America, 2022-2023

Contact Richard Walters at 417.888.1014 or rwalters@spencerfane.com.