Author

Channing Hamilton

Revital Gadish, CFO/COO, Qira
Industry VoicesMidwestNortheastOperationsSoutheastTexasWestern

How Alternative Payment Systems Support White House ‘Renter’s Bill of Rights’

by Channing Hamilton

— By Brian Ball and Revital Gadish, co-CEOs, Qira — Much of the news about property technology (proptech) concerns the physical features of apartment buildings — for example, appliances such as smart thermostats that save energy and money, or keyless entry and monitoring systems that are more convenient and secure. However, proptech also addresses intangible concerns, such as the societal push to give more power to renters in their relationships with owners and managers. The sector is rethinking how renters pay security deposits and monthly rents in ways that support …

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CaliforniaNewsOperationsPeople NewsWestern

EAH Housing Hires Two New Vice Presidents

by Channing Hamilton

SAN RAFAEL, CALIF. — EAH Housing has added Katherine Fleming as Senior Vice President of Portfolio and Karim Sultan as Vice President of Operations and Corporate Governance to its executive leadership team. Fleming will oversee EAH Housing’s asset management and compliance departments, as well as manage the firm’s portfolio. Prior to joining EAH Housing, she served as an asset management executive at BRIDGE Housing, RBC Capital Markets and Resources for Community Development. Sultan previously served as chief operating officer at East Bay Asian Local Development Corporation, where he was responsible …

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Investment SalesNewsNortheastOperationsPennsylvaniaPeople News

Toll Brothers Selects John McCullough as President of Multifamily Division

by Channing Hamilton

FORT WASHINGTON, PENN. — John McCullough has been promoted to the role of president at Toll Brothers Apartment Living, the multifamily division of Fort Washington-based Toll Brothers, Inc. In this role, McCullough will be responsible for leading all acquisitions, development, branding, marketing and operations across the company’s U.S. portfolio. He previously served as senior vice president and managing director at Toll Brothers Apartment Living from its inception in 2012. Prior to joining Toll Brothers, he worked for Tishman Speyer Properties. McCullough received a Bachelor of Science in Economics from the …

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Madison Point Apartments in Narania, Florida
Affordable HousingDevelopmentFloridaNewsSoutheast

ANF Group Completes Madison Point Apartments Near Miami

by Channing Hamilton

NARANIA, FLA. — ANF Group Inc. has completed Madison Point Apartments, a garden-style mixed-use community in the Miami suburb of Naranja. Developed by JQ Group, Madison Point Apartments offers 263 units across four 4-story buildings. Units come in one-, two- and three-bedroom layouts, including both affordable and market-rate apartments. Details on income restrictions for the affordable units were not disclosed. Amenities include a pool, community center, playground, fitness center, library, media center and approximately 200 parking spaces.

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Union at North Crossing in Waterloo, Iowa
Affordable HousingDevelopmentFinanceIowaMidwestNews

The Annex Group to Build $37 Million Affordable Community in Waterloo, Iowa

by Channing Hamilton

WATERLOO, IOWA — The Annex Group will develop Union at North Crossing, an affordable community in Waterloo, which is in Black Hawk County, Iowa. Union at North Crossing will be a garden style complex offering 180 units across five buildings. Units will come in one-, two- and three-bedroom layouts. The community will be affordable to households earning at or below 60 percent of the area median income. Union at North Crossing is slated to open in summer of 2024. Iowa Finance Authority issued the tax credit award and $25 million …

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Village at Coral Gables in Coral Gables, Florida
DevelopmentFinanceFloridaNewsSoutheast

MG Developer Secures $67.5 Million to Construct Village at Coral Gables Near Miami

by Channing Hamilton

CORAL GABLES, FLA. — MG Developer has secured a $67.5 million construction loan to build Village at Coral Gables, a community in the Miami suburb of Coral Gables. Churchill Real Estate provided the loan. The complex will comprise 48 residential units — including townhomes, lofts, villas and apartments — across 17 lots. Options for floor plans at the property include two-bedroom apartments with study rooms and balconies, as well as four-bedroom townhomes. Amenities include a wellness clubhouse, a terrace lounge, a fitness center, a pool and wi-fi connectivity. MG Developer expects …

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115-123 Essex St. and 125 Essex St. in Lawrence, Massachusetts
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassDevelopment, Reading Cooperative Bank Provide $6.6 Million for Affordable Housing Conversion in Lawrence, Massachusetts

by Channing Hamilton

LAWRENCE, MASS. — The Jowamar Cos. has secured a $6.6 million loan to convert two vacant buildings in Lawrence, approximately 30 miles north of Boston, into a 24-unit affordable housing community. The buildings previously offered a mix of office and retail space. The retail space will be repurposed as a food hall for the community. Details on income restrictions were not disclosed. MassDevelopment and Reading Cooperative Bank provided the financing. MassDevelopment and Reading Cooperative Bank were equal participants in the loan, and MassDevelopment also enhanced the loan with a guarantee. …

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FloridaNewsOperationsPeople NewsSoutheast

The Bainbridge Cos. Hires Gail Ruggles as Executive Vice President of Operations

by Channing Hamilton

WELLINGTON, FLA. — Gail Ruggles has joined The Bainbridge Cos., a Wellington-based developer and manager, as executive vice president of operations. In this role, Ruggles will oversee the firm’s owned and managed assets, as well as the financial performance at each community. Ruggles previously served as senior vice president of operations at RADCO Residential and Steadfast Living. She also spent 23 years at Gables Residential, where she was responsible for its third-party operations. Ruggles attended Ball State University in Muncie, Indiana.

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CaliforniaCompany NewsNewsPeople NewsWestern

BH Properties Selects William Stoll to Lead $1 Billion Affordable Housing Investment Initiative

by Channing Hamilton

LOS ANGELES — BH Properties has begun an investment initiation into affordable housing with the goal of building a $1 billion portfolio of assets. The new platform will focus on low-income housing tax credit, Section 8 and age-restricted housing throughout the United States. The initiative will be led by William Stoll, who BH Properties hired as a managing director. Prior to joining BH Properties, Stoll worked at Steadfast Companies for 14 years. He joined the firm in 2009 as the manager of a Southern California portfolio of 10 LIHTC properties …

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Halawa View II in Honolulu, Hawaii
Affordable HousingDevelopmentFinanceHawaiiNewsWestern

Joint Venture Secures Financing for $168.1 Million Affordable Community in Honolulu

by Channing Hamilton

HONOLULU — Hunt Capital Partners (HCP), Pacific Development Group (PDG) and Hunt Development Group (HDG) secured $68.9 million in federal Low-Income Housing Tax Credit (LIHTC) equity and $24.4 million in state LIHTC equity financing for Halawa View II, a high-rise development in Honolulu. The building will complement the first phase of Halawa View, which was constructed in 1972 and renovated in 2012. Hunt Capital Partners facilitated the LIHTCs through its proprietary fund with JPMorgan Chase. The Bank of Hawaii, with participation from American Savings Bank and Central Pacific Bank, provided construction financing …

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