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Affordable Housing

Jose Torres, EAH Housing
Affordable HousingIndustry VoicesNews

The Economic Ripple Effect of Affordable Housing

by Lynn Peisner

By Jose Torres The United States is in the grip of a deepening housing crisis. Across the country, there is a shortage of 7.3 million rental homes that are both affordable and available to lower-income renters. While affordable housing initiatives and development are primarily geared toward addressing this gap, the impact of the shortage extends far beyond shelter. Affordable housing doesn’t just provide stable, accessible homes, it is a powerful engine for economic growth and prosperity, fueling long-term job creation, supporting local businesses and strengthening stability. A Powerful Job-Creation Cycle …

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The Rushmore
Affordable HousingDevelopmentNewsTexas

Housing Trust Group Breaks Ground on $33.8 Million Affordable Housing Project in Houston

by Channing Hamilton

HOUSTON — Miami-based developer Housing Trust Group has broken ground on The Rushmore, a $33.8 million affordable housing project located in the Energy Corridor of Houston. The community will comprise 101 units, 85 of which will be reserved for households earning at or below 30, 50 and 60 percent of the area median income. Residences will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, community clubroom, workroom, fitness center, game room and designated dog walking path. Completion is slated for spring 2026. Financing sources for …

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Baisley Pond Park Residences
Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Begins Leasing 318-Unit Affordable Housing Redevelopment in Queens

by Channing Hamilton

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing Baisley Pond Park Residences, a 318-unit affordable housing redevelopment project in Queens. The property is a conversion of the 350-room JFK Hilton Hotel, which was originally built in 1987. Situated in the Jamaica neighborhood of Queens, the complex offers studio, one- and two-bedroom units. Amenities include a fitness center, computer lounge and multiple common rooms. Monthly rents range from $784 for a studio to $1,493 for a two-bedroom apartment. As …

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Little River District
Affordable HousingDevelopmentFloridaNewsSoutheast

Miami-Dade County Commission Approves $3 Billion Mixed-Use Development

by Channing Hamilton

MIAMI — The Miami-Dade County Commission has granted final approval for Little River District, a $3 billion mixed-use development situated on 63 acres in Miami’s Little River and Little Haiti neighborhoods. SG Holdings — a joint venture between Swerdlow Group, SJM Partners and Alben Duffie — is the developer. Little River District will offer more than 5,700 affordable and workforce housing units, as well as retail, green spaces and transit infrastructure with the addition of a new train station. Construction is slated to begin in 2026, with a projected development …

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Park Vista Apartment Homes
Affordable HousingCaliforniaInvestment SalesNewsWestern

BLDG Partners Secures $82 Million in Acquisition Financing for Property in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — BLDG Partners has secured a $82 million loan for the acquisition of Park Vista Apartment Homes, a 392-unit affordable housing community in Anaheim. Martin Fayer of NewPoint Real Estate Capital arranged the fixed-rate Fannie Mae loan, which has a seven-year term with five years interest only.  The garden-style community was originally constructed in 1959, then renovated in 2001. The property consists of 93 two-story buildings spread across approximately 20 acres. Park Vista Apartment Homes is affordable to households earning at or below 60 percent of the area …

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Affordable HousingDevelopmentMississippiNewsSoutheast

Gulf Coast Housing, Midtown Partners Open Affordable Housing Community in Jackson, Mississippi

by Channing Hamilton

JACKSON, MISS. — Gulf Coast Housing Partnership (GCHP) and local nonprofit organization Midtown Partners Inc. have opened Noel Place, a 27-unit affordable housing asset located at 144 Noel St. in Jackson. About 60 percent of Noel Place’s apartments will be reserved for special needs residents, including people with disabilities and senior citizens. Federal Home Loan Bank of Dallas and BankPlus awarded GCHP with a $499,000 grant to help fund the construction of Noel Place. Other project partners include Mississippi Home Corp. and Mississippi Regional Housing Authority No. VI.

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The Bellwood Gateway Development
Affordable HousingDevelopmentIllinoisMidwestNews

F.H. Paschen Tops Off First Phase of $43 Million Workforce Housing Project Near Chicago

by Channing Hamilton

BELLWOOD, ILL. — F.H. Paschen has topped off Phase I of the Bellwood Gateway Development, a $43 million workforce housing project in Bellwood, about 15 miles west of Chicago. The four-story, 71-unit community at 2711 and 2712 St. Charles Road is slated to open in Spring 2026. The property will also include 6,000 square feet of ground-floor commercial space. F.H. Paschen broke ground on the project in July 2024. Chicago-based DesignBridge was the architect. Financing sources for the project include TIF financing, workforce housing bonds and a State of Illinois grant …

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The Italic
Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Begins Leasing 50-Story Apartment Building in Queens

by Channing Hamilton

NEW YORK CITY — A partnership between two locally based developers, Fetner Properties and Lions Group, has begun leasing The Italic, a 50-story building located at 26-32 Jackson Ave. in the Long Island City area of Queens. The building offers 363 units in studio, one-, two- and three-bedroom configurations, with 109 residences designated as affordable housing. Income restrictions for these units were not disclosed. Rents start at approximately $3,800 per month for a studio. Shared amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and …

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Gordon Crossing
Affordable HousingDevelopmentMidwestNewsOhio

Frontline Development, Woda Cooper Break Ground on $17.6 Million Affordable Housing Project in Cleveland

by Channing Hamilton

CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a $17.6 million affordable housing development in Cleveland. The four-story development will feature 42 two-bedroom and 12 three-bedroom apartments. Gordon Crossing will be available to households earning up to 80 percent of the area median income. Rents are expected to range from $362 to $1,699, depending on household income and unit size. Residents will have access to shared amenities such as a community room with kitchenette, on-site management office, parcel room and outdoor …

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Affordable HousingDevelopmentNewsNortheastWashington, D.C.

HUD Cuts Contracts for Affordable Housing Developers Under DOGE Directive

by Channing Hamilton

WASHINGTON, D.C. — The Trump administration has halted at least $60 million in financing intended for affordable housing developments across the nation, according to the Associated Press. At the direction of the Department of Government Efficiency (DOGE), the U.S. Department of Housing and Urban Development (HUD) has terminated contracts for at least two of the three organizations in its Section 4 program, which the Associated Press states could stall the development of hundreds of affordable housing projects across the United States. The Section 4 program, also known as the Capacity Building for …

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