Affordable Housing

Forge-Lenox
Affordable HousingDevelopmentMassachusettsNewsNortheast

Pennrose Opens Mixed-Income Property in the Berkshires

by Lynn Peisner

LENOX, MASS. — Pennrose has completed and opened Forge, a mixed-income community in Lenox. The 65-unit Forge includes 13 townhome-style buildings offering one-, two- and three-bedroom units, 50 of which are reserved for households earning 30 to 60 percent of area median income (AMI). Nine homes are reserved for tenants who qualify for Massachusetts Rental Voucher Program (MRVP) assistance, a state-funded rental subsidy. Fifteen units are designated as workforce housing, for households earning up to 120 percent of AMI. Funding came from a variety of public and private sources. Pennrose …

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Parkside-Commons-Syracuse
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

BFC Partners and SAA Canopy Group Secure $269M to Finance Affordable Housing Redevelopment in Syracuse, New York

by Lynn Peisner

SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …

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Overlook-at-Garson-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Atlanta Beltline Partners Break Ground on 130-Unit Affordable Community

by Lynn Peisner

ATLANTA — The Atlanta Beltline, Pennrose, Radiant Development Partners and other project stakeholders broke ground Aug. 4 on Overlook at Garson, a 130-unit affordable housing community along the Atlanta Beltline’s Northeast Trail in the Lindbergh neighborhood. The studio, one- and two-bedroom units will be rent restricted at 50, 60 and 80 percent of the area median income. The single-building community will include parking and 10,300 square feet of commercial space on approximately 3 acres. Financial partners for the Low-Income Housing Tax Credit (LIHTC) project include Atlanta Beltline Inc., Invest Atlanta, …

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410-N-Elizabeth-Chicago
Affordable HousingDevelopmentIllinoisMidwest

Tree Street Group, Partners Break Ground on Chicago High-Rise

by Lynn Peisner

CHICAGO — Tree Street Group, along with partners Magellan Development Group and Mark Goodman & Associates, have begun construction of 410 N. Elizabeth, a two-tower high-rise community in Chicago’s Fulton Market neighborhood. The project includes 383 units, 77 of which will be designated as affordable housing. Rent restrictions were not disclosed. The 33-story tower represents the first phase of the development. Upon full buildout, the community will comprise 724 total units with 146 earmarked as affordable. Development details of Phase II were not released. The project will feature geothermal design, …

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Herndon-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Construction Wraps Up on Phase II of Atlanta Public Housing Redevelopment

by Lynn Peisner

ATLANTA — Capstone Building Corp. has completed construction of Herndon Square Phase II, a $57 million development that’s part of the larger Legacy at Herndon Square redevelopment in Atlanta’s Westside. Atlanta Housing, Hunt and Pennrose are the developers, and the architect is Thriven Design. Herndon Square Phase II spans 335,348 square feet and consists of a six-story residential building featuring 201 apartments in one-, two- and three-bedroom floor plans. Thirty-one of the units are rented at market rates while the remaining apartments are rent-capped at 30 to 80 percent of …

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12-Halsey-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and Hope Street Capital were the borrowers. The three-year, floating-rate loan was provided by AllianceBernstein. Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims led the transaction team. Completed in October 2025, 12 Halsey comprises 240 residential units, with 30 percent designated as affordable under New York’s Affordable …

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Village-at-Lake-Forest-Jacksonville
Affordable HousingFinanceNews

JPMorganChase Commits $750B to Increase Housing Supply

by Lynn Peisner

NEW YORK CITY — JPMorganChase has announced it will deploy $750 billion to support affordable housing production through 2035. Called the American Dream Initiative, the $750 billion commitment will serve both renters and homebuyers and represents a 40 percent increase in housing funding compared with the past decade. The plan calls for increased capital deployed through available tools such as debt, equity and grants to build or preserve housing supply. JPMorganChase will partner with developers, owners, nonprofits and governments to back 1,000,000 rental units affordable to households earning no more …

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Marine-Drive-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

Habitat Starts Construction of First Phase of $600M Affordable Housing Redevelopment in Buffalo, New York

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co., along with partners Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority, has started construction of the first phase of the Marine Drive Apartments public housing redevelopment in Buffalo. The $250 million first phase will include 254 affordable apartments across four newly constructed residential buildings. Built in the 1950s, the existing seven-building Marine Drive public housing complex faced aging infrastructure and dated building systems. The three-phase redevelopment will replace the original 616 apartments with approximately 730 new homes. Phase …

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Ekos-at-Rockledge-Park-Rockledge
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on $38.2M Affordable Housing Community in Rockledge, Florida

by Lynn Peisner

ROCKLEDGE, FLA. — McDowell Housing Partners (MHP) has begun construction of Ekos at Rockledge Park, a $38.2 million, 100-unit affordable housing community in Rockledge. The property’s one-, two- and three-bedroom units will be reserved for households earning up to 30, 60 and 70 percent of area median income. The LIHTC project will be built to National Green Building Standards. Units will be equipped with Energy Star-rated appliances, low-flow plumbing fixtures, LED lighting and other energy-efficient features. Amenities feature a clubhouse, fitness center, business center with computer stations, package lockers, community …

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Opportunity-Village-West-Louisville
Affordable HousingDevelopmentKentuckyNewsSoutheast

Woda Cooper Cos. Breaks Ground on Opportunity Village in Louisville, Kentucky

by Lynn Peisner

LOUISVILLE, KY. — Woda Cooper Cos. along with Goodwill Kentucky have begun development of Opportunity Village, a four-story, 76-unit affordable housing community on the Norton Healthcare Goodwill Opportunity Campus in West Louisville. The 20-acre campus is home to Norton West Louisville Hospital and Goodwill’s West Louisville Opportunity Center, where residents can find assistance securing work, locating housing, accessing legal resources and more. The $19.7 million Opportunity Village will include one- and two-bedroom apartments rented monthly for approximately $695 to $1,295, based on the rent restrictions of 50 and 80 percent …

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