Affordable Housing

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

by Channing Hamilton March 25, 2025

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 …

March 25, 2025

Affordable Housing Development New York News Northeast

Partnership Begins Leasing 50-Story Apartment Building in Queens

by Channing Hamilton March 25, 2025

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 …

March 25, 2025

Affordable Housing Development Midwest News Ohio

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

by Channing Hamilton March 20, 2025

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 …

March 20, 2025

Affordable Housing Development News Northeast Washington, D.C.

HUD Cuts Contracts for Affordable Housing Developers Under DOGE Directive

by Channing Hamilton March 11, 2025

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 …

March 11, 2025

Affordable Housing Development New Jersey News Northeast

Walters Underway on Affordable Housing Development in Hainesport, New Jersey

by Channing Hamilton March 10, 2025

HAINESPORT, N.J. — New Jersey-based developer Walters is underway on the development of Cornerstone at Hainesport, a 73-unit affordable housing project in Hainesport, roughly 23 miles east of Philadelphia. The property will consist of six buildings. Units will come in one-, two- and three-bedroom layouts. The community will be available to households earning 60 percent or less of the area median income. Amenities include a basketball court, children’s play area and a clubhouse with computer workstations. The first apartments are expected to be available for occupancy by December.

March 10, 2025

Affordable Housing Development Finance New York News Northeast

Brisa Builders, PMG Affordable Secure $51.7 Million in Financing for Queens Affordable Housing Project

by Channing Hamilton March 7, 2025

NEW YORK CITY — Brisa Builders Development LLC and PMG Affordable have secured $51.7 million in financing for 19-19 Cornaga Ave., a 92-unit affordable housing project located in the Downtown Far Rockaway Special Purpose District in Queens. The financing package includes: Additionally, the developers are leveraging roughly $21.4 million in low-income housing tax credit (LIHTC) equity syndicated by Enterprise, $2.3 million in state LIHTC equity and $41,000 in solar tax credit equity. BWE is providing permanent financing through Freddie Mac. 19-19 Cornaga Ave. will offer a mix of studio, one- …

March 7, 2025

Affordable Housing Development Industry Voices

Why Developers Shouldn’t Gamble When it Comes to Accessibility Compliance

by Lynn Peisner March 7, 2025

By Mark English, E&A Team Inc. Every short-term decision contributes to a long-term goal. In multifamily housing construction, the consequences of short-term decisions are particularly evident when an owner hires an architect, contractor or a superintendent who lacks a full understanding of accessibility compliance. It all comes down to two key questions: What regulations apply to the property, and what are the technical standards each regulation requires you to apply? The answers to these questions determine the applicable accessibility requirements for the property. In 2007, I was shocked to learn …

March 7, 2025

The investment sales brokerage panel at InterFace Texas Workforce & Affordable Housing

Affordable Housing Conference Coverage Features Investment Sales

InterFace Panel: Texas Affordable Housing Sales Volume Should Rebound Marginally in 2025

by Channing Hamilton March 7, 2025

DALLAS — As is the case for many commercial asset classes and markets in 2025, there is an expectation of elevated deal volume for investment sales of affordable housing properties in Texas. But brokers in that space caution that the rebound will likely be marginal and is not necessarily indicative of ideal market conditions taking hold. A quintet of panelists broke down this notion and others at the InterFace Texas Affordable & Workforce Housing conference on Feb. 13 at the Westin Galleria Dallas hotel. Mary Ann Bennett, senior managing director …

March 7, 2025

Affordable Housing Illinois Midwest News

Community Builders Delivers $44 Million Affordable Housing Community in Chicago

by Channing Hamilton March 3, 2025

CHICAGO — The Community Builders has completed Canvas at Leland Plaza, a $44 million affordable housing property located in Chicago’s Lincoln Square neighborhood. Canvas at Leland Plaza consists of 63 units. The Chicago Housing Authority (CHA) is providing funding for 16 of the units through its project-based voucher program, representing an investment of more than $13.3 million over the next 30 years. Shared amenities at the complex include package and bike rooms, storage space, a resident lounge and terrace. The property also offers commercial space, outdoor seating and parking. Financial …

March 3, 2025

Affordable Housing Development Finance News Southeast Virginia

Advantage Capital Closes Financing for Affordable Housing Project in Charlottesville, Virginia

by Channing Hamilton February 28, 2025

CHARLOTTESVILLE, VA. — Advantage Capital has closed the financing for the second phase of Kindlewood, a $68 million affordable housing redevelopment and expansion project in Charlottesville. The development team, which broke ground on phase II last month, includes Piedmont Housing Alliance and National Housing Trust. Phase II of Kindlewood will consist of 100 apartments, half of which are replacement units for existing residents. The rest will be new affordable housing units. The development team expects to deliver the second phase in fall 2026. The last tranche of financing was $9.6 …

February 28, 2025

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