Affordable Housing

3233-47-North-Sheffield-Chicago
Affordable HousingDevelopmentFinanceIllinoisInvestment SalesMidwestNews

Associated Bank Supplies $29.4M Acquisition and Development Loan for Chicago TOD

by Lynn Peisner

CHICAGO — Associated Bank has provided a $29.4 million loan to a joint venture of North Park Ventures and SNS Realty Group for the development of a transit-oriented project at 3233-47 N. Sheffield Ave. in Chicago. The loan includes funds for the acquisition of the former Tortenson Glass Co., which includes approximately 30,000 square feet. Tortenson operated at the site from 1910 to 2024. The five-story, 99-unit apartment building will offer 84 market-rate units and 15 affordable-housing units. Floor plans will consist of studios, one- and two-bedrooms. Amenities will feature …

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Rajiv-Ramakrishnan-FK
Affordable HousingArchitecture & DesignIndustry Voices

Designing with Purpose: How Architecture Supports Veteran Communities

by Lynn Peisner

By Rajiv Ramakrishnan Veterans are not a one-size-fits-all population. Some are transitioning back to civilian life after active service, while others are aging in place or living with physical injuries, PTSD or other invisible challenges. While affordability and accessibility remain essential, successful veteran housing must also support how residents experience their environment every day. Architecture does more than provide shelter. Thoughtful design can support independence, encourage connection and create places where residents feel safe, comfortable and at home. Beyond Affordability: Designing for Stability Affordable housing removes one of the largest …

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Artisan-Point-Naranja
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

HTG, AM Affordable Housing Break Ground on Artisan Pointe in Naranja, Florida

by Lynn Peisner

NARANJA, FLA. — Housing Trust Group (HTG) and AM Affordable Housing have secured financing to begin construction of the first phase of Artisan Pointe, an affordable housing community in Naranja, 34 miles south of Miami. Located at 26115 S. Dixie Highway, Artisan Pointe will include 115 units in the first phase. Rents for the one- and two-bedroom units are restricted to 30, 60 and 70 percent of area median income (AMI). Monthly rents for qualifying residents will range from $766 for a one-bedroom apartment at the 30 percent AMI tier …

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Billy-G-Mills-Manor-Los-Angeles
Affordable HousingCaliforniaFinanceNewsWestern

Watt Capital Developers Secures Refinancing, HAP Contract Renewal for Los Angeles Affordable Housing

by Lynn Peisner

LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan to refinance Billy G. Mills Manor, an affordable housing community in Los Angeles. Walker & Dunlop’s Jeff Kearns and Laura Woltanski arranged the loan through HUD/FHA’s Section 223(f) loan program on behalf of Watt Capital Developers. The community features 102 units supported by a Project-Based Section 8 Housing Assistance Payment (HAP) contract covering 100 percent of the residences. The refinancing also supplies funding for approximately $30,000 per unit for planned renovations, including roof replacement, new windows and sliding …

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ALORA-Kissimmee
Affordable HousingDevelopmentFloridaNewsSoutheast

The NRP Group Breaks Ground on Florida Affordable Development Alora Lofts

by Lynn Peisner

KISSIMMEE, FLA. — The NRP Group has secured financing and begun construction of Alora Lofts, an 88-unit affordable housing community in Kissimmee, 18 miles south of Orlando. Residences will be rent restricted at 30 and 70 percent of area median income. Floor plans are offered as one- to three-bedroom layouts complemented by amenities that include a fitness center, resort-style pool, multipurpose room, community kitchen, a grill area and a playground. FK Architecture is the project architect. Funding sources include the Florida Housing Finance Corp., which provided tax credits, tax-exempt bonds …

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Enclave-at-Canopy-Park-Orlando
Affordable HousingDevelopmentFloridaNewsSoutheast

Archway, FK Architecture Open The Enclave at Canopy Park in Orlando

by Lynn Peisner

ORLANDO, FLA. — Archway Partners, along with FK Architecture, has completed and opened The Enclave at Canopy Park, a 104-unit affordable housing community at 4440 Canopy Park Loop in Orlando. Construction began in April 2025. The Enclave at Canopy Park offers one- and two-bedroom apartments for households earning no more than 22 or 80 percent of the area median income. Orange County invested $3 million from the Affordable Housing Trust Fund to support the project, helping provide rents as low as $400 per month for qualifying households. Rents will average …

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Timberline-Madison
Affordable HousingDevelopmentMidwestNewsWisconsin

McShane Construction, Lincoln Avenue Communities Underway on Affordable Housing Development in Madison, Wisconsin

by Lynn Peisner

MADISON, WIS. — Lincoln Avenue Communities and McShane Construction Co. are building Timberline Terrace, a 93-unit affordable housing community in Madison. The development is located at 4504 Verona Road on a 1.1-acre site. Units will be offered in one-, two- or three-bedroom floor plans. According to Dane County, rents are capped at 30, 50 or 80 percent of county median income (CMI). Nineteen units will be reserved for households experiencing homelessness. Amenities include a 4,000-square-foot plaza that features a playground, grills, a lounge, community room and fitness area. Knothe & …

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Maren-McCabe-TRC
Affordable HousingCaliforniaIndustry VoicesOperationsSustainable/LEED

Five Benefits Of Energy Upgrades in Affordable Housing

by Lynn Peisner

For people who live in, own or manage affordable housing, energy efficiency can offer significant benefits beyond energy savings. Research from the U.S. Dept. of Energy (DOE) shows that owners of affordable housing properties struggle to sustain truly affordable rental housing for low-income families because they are often faced with high energy bills and maintenance costs. This disparity impacts residents, too. According to the DOE’s Low-Income Energy Affordability Data (LEAD) Tool, the average percentage of income spent on energy costs for low-income households is three times higher than for non-low-income …

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Floret-Hill-Lawrence
Affordable HousingDevelopmentFinanceKansasMidwestNews

Wheatland Investments Group Obtains $10.8M Loan for Affordable Housing Development in Lawrence, Kansas

by Lynn Peisner

LAWRENCE, KAN. — Merchants Capital has secured a $10.8 million Freddie Mac loan for Floret Hill, a 121-unit affordable housing development in Lawrence. The developer, Gardner, Kansas-based Wheatland Investments Group, also has obtained federal and state Low-Income Housing Tax Credit equity, while the City of Lawrence donated 12 acres of land and committed approximately $1 million to the project. Floret Hill will offer one-, two- and three-bedroom apartments across 11 residential buildings, with 37 units restricted to residents earning up to 40 percent of area median income (AMI) and 84 …

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Alafia-East-New-York
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Apex, L+M Obtain $217M to Finance Phase II of Alafia in Brooklyn

by Lynn Peisner

NEW YORK CITY — Apex Building Group and L+M Development Partners have obtained approximately $217 million in financing for the third phase of the Alafia project, an affordable housing community in the East New York neighborhood of Brooklyn. The nonprofits RiseBoro Community Partnership and Services for the Underserved also are partners. The financing package is backed by federal and state affordable housing tax credits, tax-exempt bonds, state subsidies, construction loans from Redstone Bank, funding from Goldman Sachs Urban Investment Group and more. Phase III will consist of two residential buildings …

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