Affordable Housing

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Affordable HousingDevelopmentFloridaNewsSoutheast

Trevato Breaks Ground on $120M Mixed-Use Development in Jacksonville Beach

by Lynn Peisner

JACKSONVILLE BEACH, FLA. — Locally based Trevato Development Group has broken ground on a $120 million mixed-use development at the former Adventure Landing site in Jacksonville Beach. Adventure Landing was an amusement and water park that opened in the 1990s and operated for roughly 30 years. Trevato acquired the property in 2021. The project, which has not yet officially been named, will include 415 units of market-rate and workforce housing, 1,800 square feet of ground-level retail space and a viewing platform overlooking the Intracoastal Waterway. The site is on Beach …

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Robert-E-Cuttle-Wendover
Affordable HousingIndustry VoicesOperations

Preparing for Hurricane Season: A Guide for Owners and Operators

by Lynn Peisner

Hurricane season officially began on June 1, and for property owners and managers across the Gulf Coast and Southeast, preparation should already be underway. While NOAA predicts less hurricane activity this summer, it only takes one storm to put residents, properties and entire communities at risk. Storm preparedness is about more than asset protection. It is about protecting the people who call these communities home; residents who, when a property is damaged or destroyed, can be left displaced, vulnerable and without access to the resources they need. That responsibility carries …

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Affordable HousingCaliforniaDevelopmentNewsWestern

Kennedy Wilson, Jamison Team Up to Develop 4,000 Units of Affordable Housing in Los Angeles

by Lynn Peisner

LOS ANGELES — Kennedy Wilson and Jamison have partnered to develop 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction. Specifically, the partnership is comprised of Jamison’s affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development group, Vintage Housing. According to Bloomberg, the development cost is approximately $1.7 billion. The Los Angeles Times reports the partners will deliver the units via 15 separate projects. The team will begin with the conversion of the former L.A. World Trade Center, a 10-story office complex developed in …

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Affordable HousingDevelopmentMidwestMissouriNews

Milhaus to Develop 194-Unit LIHTC Project in Kansas City

by Lynn Peisner

KANSAS CITY, MO. — Milhaus will develop Linwood & Troost, a 194-unit affordable housing community in Kansas City. Construction is slated to begin at the end of 2026, with completion anticipated by 2028. The Missouri Housing Development Commission (MHDC) awarded 4 percent federal Low-Income Housing Tax Credits for the project. In addition to the tax credits, funding sources include a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. The total project cost was not disclosed. Indianapolis-based Milhaus will …

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1920-Turnbull-Bronx
Affordable HousingDevelopmentNew YorkNewsNortheast

Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx

by Lynn Peisner

NEW YORK CITY — Gilbane and partners have closed on financing for 1920 Turnbull, a $170 million, 228-unit affordable and supportive housing project in the Castle Hill/Soundview neighborhood of the Bronx. Apartments are income-restricted to households earning up to 60 percent area median income, and 137 units will be reserved as permanent supportive housing. Strada Development and the Center for Urban Community Services (CUCS) are co-developers, with CUCS also serving as a service provider. Upon completion, slated for March 2029, CUCS will operate a 3,500-square-foot on-site office space providing residents …

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Affordable HousingCaliforniaDevelopmentNewsWestern

C&C Opens Affordable Housing Development in Irvine, California

by Lynn Peisner

IRVINE, CALIF. — C&C Development, a Tustin, California-based affordable housing developer, has completed and opened Cartwright Family Apartments in the Irvine Business Complex. The 4 percent LIHTC project, which is fully occupied, includes 60 units reserved for households earning between 30 and 80 percent of area median income, with some units set aside for veterans. KTGY was the architect. Cartwright Family Apartments is a a single four-story residential building with a mix of 15 one-bedrooms, 17 two-bedrooms and 28 three-bedroom units. Amenities include a courtyard with a pool, barbecue pavilion, …

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Elara-at-The-Market-Seattle
Affordable HousingInvestment SalesNewsWashingtonWestern

Seattle Housing Agency Buys its First Property for $60.9M

by Lynn Peisner

SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters …

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Affordable HousingDevelopmentIndustry VoicesInvestment SalesOperations

Multifamily Market Moves Past Supply Shock

by Lynn Peisner

By Jeff Goll The headlines on multifamily have not caught up to the data. After two years of being the asset class everyone wanted to disparage, the U.S. apartment market quietly began to rebalance in the first quarter of 2026. New deliveries are collapsing, demand is returning faster than most forecasts expected, occupancy and renewal rates are improving, and the construction pipeline has thinned to a level that effectively guarantees a tighter market for years to come. For well-capitalized developers and operators with discipline and a low-cost basis, the setup …

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Addison-Grove-Puyallup
Affordable HousingDevelopmentFinanceNewsWashingtonWestern

Great Expectations Secures Financing for Addison Grove in Puyallup

by Lynn Peisner

PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has secured financing to build Addison Grove, a 102-unit affordable housing community in Puyallup, 36 miles south of Seattle. Great Expectations acquired the site in April. A construction timeline has not been disclosed. All units will be rent restricted at 50 and 80 percent of area median income, guaranteed for 60 years. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from …

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Affordable HousingDevelopmentNewsSoutheastVirginia

Pennrose, Partners Break Ground on Final Phase of $120M Newport News Redevelopment

by Lynn Peisner

NEWPORT NEWS, VA. — Construction has begun on the fifth and final phase of the Marshall-Ridley Choice Neighborhood Initiative (CNI) in Newport News. Ridley Place was public housing originally built in 1954 on approximately 18 acres. That community is now being replaced through the CNI, which is a HUD-backed redevelopment plan focused on mixed-income housing, resident services and broader neighborhood investment. Across the phases, Marshall-Ridley CNI leaders leveraged more than $120 million in housing investment. Pennrose’s Phase V, located at 2815 Washington Ave., will add 73 mixed-income units, amenities and …

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