Affordable Housing

Convent-Ave-NYC
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Haussmann Secures $40.8M Loan, Breaks Ground on Manhattan Mixed-Income Development

by Lynn Peisner

NEW YORK CITY — Haussmann Development has obtained a construction loan for approximately $40.8 million and broken ground on an 84-unit building at 16-20 Convent Ave. in North Manhattan. Affinius Capital provided the construction loan in partnership with Axonic Capital. The building will include ground-floor community space that will serve as the third location of Little Legacy Village, the childcare practice that Haussmann co-founded. Completion of the ground-up Opportunity Zone project is slated for early 2028. The project will include an unspecified number of permanently affordable units. It is being …

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Pointe-Grand-Interbay-Tampa
Affordable HousingDevelopmentFloridaNewsSoutheast

Hillpointe Obtains $67M in Financing, Breaks Ground on Tampa Affordable Housing Development

by Lynn Peisner

TAMPA, FLA. — Hillpointe has secured $67 million in construction financing and broken ground on Pointe Grand Interbay at Tampa, a 408-unit community in South Tampa. Built under the state’s Live Local Act, an affordable housing law that gives developers zoning, height and density incentives for projects that include workforce or affordable housing, the residences, all two-bedroom, two-bath floor plans, will be reserved for renters earning no more than 80 to 120 percent of area median income. Hillpointe Construction, the Winter Park, Florida-based firm’s in-house general contractor, is leading the …

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The-Elex-Fort-Wayne
Affordable HousingDevelopmentFinanceIndianaMidwestNews

Merchants Capital Provides $99M for General Electric Adaptive Reuse Project in Fort Wayne, Indiana

by Lynn Peisner

FORT WAYNE, IND. — Merchants Capital has secured a Freddie Mac loan and provided equity totaling approximately $99 million for The Elex, a 296-unit mixed-use, mixed-income community now leasing in Fort Wayne. The Elex is part of Electric Works, the multiphase redevelopment of Fort Wayne’s former General Electric industrial campus. The 296-unit residential phase opened in April. The Elex was developed by Biggs Group in partnership with Ancora, the master developer of Electric Works; Weigand Construction; the project’s construction partner; and MSquared, a development partner focused on mixed-income and affordable …

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Design-panel-web
Affordable HousingArchitecture & DesignConference CoverageFeaturesSoutheastSustainable/LEED

Architects Leverage Creative Design, Advanced Technology to Build Affordable Housing in the Southeast 

by Lynn Peisner

By Matthew Auchincloss   The dire need for more affordable rental housing across the country has been well-documented, but the pathway to delivery is full of potential pitfalls, says Ian Hunter, regional director at Dwell Design Studio, who operates out of the architectural firm’s Atlanta office. In short, there are several ways for projects to “get stuck,” he points out.    At the top of the list is funding, but the entitlement process, design, construction costs and operations are also potential impediments to getting an affordable housing project from conception to inception.   …

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Affordable HousingDevelopmentMidwestNewsOhio

City of Cleveland and Partners Open Woodhill Station East

by Lynn Peisner

CLEVELAND — The City of Cleveland, Cuyahoga Metropolitan Housing Authority and The Community Builders have opened Woodhill Station East in Cleveland. The 64-unit development marks the third phase of the Buckeye-Woodhill Choice Transformation, the formal name given to a multi-phase effort to redevelop the former Woodhill Homes public housing site into new mixed-income housing with neighborhood amenities. Woodhill Station East’s affordable units are offered at 30 or 80 percent of area median income, and some units are rented at market rates. Amenities at Woodhill Station East include a community room, …

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Villages-of-Hayti-Durham
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Gilbane Breaks Ground on Villages of Hayti Affordable Housing Redevelopment in Durham, North Carolina

by Lynn Peisner

DURHAM, N.C. — Gilbane Development, along with several project partners, has broken ground on Villages of Hayti, a 252-unit affordable housing community in the Hayti neighborhood of Durham. Gilbane’s partners include the Durham Housing Authority and Durham Community Partners, a group consisting of Harmony Housing Affordable Development and F7 Development. The Hayti Community Advisory Committee also participated. The project is a redevelopment of a 20-acre former public housing site called Fayette Place. Villages of Hayti is structured as a Low‑Income Housing Tax Credit (LIHTC) development and will provide homes rented …

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3751-Delmas-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Berkadia Arranges $15.6M Construction Loan for Two L.A. Affordable Housing Developments

by Lynn Peisner

LOS ANGELES — Berkadia has arranged $15.6 million in construction financing for two affordable housing projects in Los Angeles. Locally based Seachange Partners, founded in 2024, is the borrower. The lender was Genesis Capital. The developments are at 1723 Corinth Ave. in the Sawtelle neighborhood and 3751 Delmas Terrace in the Palms submarket. The two five-story projects will include a combined 79 units of deed-restricted affordable housing. Income caps were not disclosed. Construction is underway, with completion slated for 2027.

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Colibri-Commons-East-Palo-Alto
Affordable HousingCaliforniaDevelopmentNewsOperationsWestern

MidPen, EPACANDO Open Colibri Commons, a 136-Unit Affordable Housing Community in East Palo Alto, California

by Lynn Peisner

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. Units are reserved for tenants earning no more than 30 and 60 percent of area median income. Units range from studio to four-bedroom floor plans. Amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for …

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C-on-Pico-Los-Angeles
Affordable HousingCompany NewsDevelopmentInvestment SalesOperations

$69B Apartment REIT Megamerger: AvalonBay, Equity Residential Agree to Join Forces

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — Equity Residential (NYSE: EQR) and AvalonBay Communities (NYSE: AVB) have agreed to merge, creating the largest publicly traded apartment REIT in the United States with a combined portfolio of more than 180,000 rental apartments. The deal is expected to close in the second half of 2026, at which time the company’s new name and stock symbol will be announced.  Based on the National Multifamily Housing Council’s 2026 Top 50 Owners rankings, the owned portfolio of the newly combined AvalonBay and Equity Residential entity will exceed …

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Brad-Butler
Affordable HousingDevelopmentFinanceIndustry Voices

Urban Multifamily Development: The Ultimate Love‑Hate Relationship

by Lynn Peisner

By Brad Butler The lack of affordable rental housing in the United States has reached alarming levels, and the problem seems to worsen with each passing month. As job creation has slowed in certain industries, many people are moving to urban areas in search of better employment opportunities, housing options and long-term economic stability. From the outside, this trend could make urban multifamily development look like an easy entry point into the business. But looks can be deceiving. While urban markets offer many advantages, development in these areas is significantly …

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