Affordable Housing

East Bay Asian Local Development, Abode Housing Development Break Ground on Affordable Housing Development in Oakland, California

by Channing Hamilton November 17, 2023

OAKLAND, CALIF. — East Bay Asian Local Development and Abode Housing Development have broken ground on The Phoenix, a 101-unit affordable housing development in Oakland. The project will develop a former industrial manufacturing site into a 44,179-square-foot residential building and a 7,300-square-foot community building with amenities such as a computer lab, community rooms, bike storage and social service offices. Units will come in studio-, one- and two-bedroom floor plans. Half of the units will be reserved for formerly unhoused individuals earning between 15 and 30 percent of the area median …

November 17, 2023

Affordable Housing Development Hawaii News Western

EAH Housing Selected to Develop $193 Million Kahului Civic Center Mixed-Use Complex in Kahului, Hawaii

by Channing Hamilton November 17, 2023

KAHULUI, HAWAII — The Hawaii Housing Finance and Development Corp. (HHFDC) has selected EAH Housing to develop the Kahului Civic Center Mixed-Use Complex in Kahului, on the island of Maui. The property will include a transit hub, civic center and 303 units of affordable housing. The Kahului Civic Center Mixed-Use Complex will be constructed in phases as part of a public-private partnership. EAH Housing will coordinate the development of the civic center with the State of Hawaii Department of Accounting and General Services, the transit hub with the County of …

November 17, 2023

Affordable Housing Development Midwest News Ohio

The NRP Group Opens 52-Unit Affordable Housing Community in Cleveland, Ohio

by Channing Hamilton November 16, 2023

CLEVELAND, OHIO — The NRP Group has opened The Davis Apartments, a 52-unit affordable housing in Cleveland’s Glenville neighborhood. Ohio Finance Housing Agency, RiverHills Bank and PNC Bank provided funding for the community’s development. The Davis Apartments was built on the site of the former Harry E. Davis Elementary School, which had been vacant since 2006. The property is named after Harry E. Davis, a Cleveland native who served four consecutive terms in the Ohio State House before becoming the first African American member of the Cleveland Civil Service Commission …

November 16, 2023

Affordable housing property in Pennsylvania

Affordable Housing Finance Investment Sales

FHFA Announces 2024 Multifamily Loan Purchase Caps for GSEs

by Lynn Peisner November 15, 2023

Washington, D.C. — The Federal Housing Finance Agency (FHFA), the organization that regulates Fannie Mae and Freddie Mac, has set 2024 multifamily loan purchase caps for $70 billion for each enterprise for a combined total of $140 billion. FHFA will require that at least 50 percent of the enterprises’ multifamily businesses be mission-driven, affordable housing. Examples of “mission-driven” housing include loans on properties subsidized by the Low-Income Housing Tax Credit (LIHTC) program, loans on properties covered by a Section 8 Housing Assistance Payment contract where the contract limits tenant incomes …

November 15, 2023

Affordable Housing Arizona Development News Western

Greenlight Communities Breaks Ground on 159-Unit Project in Phoenix

by Channing Hamilton November 13, 2023

PHOENIX — Greenlight Communities has broken ground on a 159-unit affordable housing community located at 33455 N. North Valley Parkway in Phoenix. The project will offer 59 studios, 66 one-bedroom units and 34 two-bedroom units. The property will feature three courtyards with various amenities. With the community situated between charter schools, Greenlight Communities plans to support the local education system by offering housing options to families seeking high-quality education for their children. The project is set to begin leasing in October 2024. Income restrictions were not disclosed.

November 13, 2023

Affordable Housing Development Florida Leasing & Marketing News Southeast

Miami-Dade County, Related Group Deliver Two Affordable Housing Communities As Part of $1 Billion River Parc Redevelopment

by Channing Hamilton November 6, 2023

MIAMI — Miami-Dade County, in partnership with locally-based developer Related Group, has opened Robert King High and Paseo del Rio, two affordable housing communities in Miami’s Little Havana neighborhood. The two properties serve as the fourth and fifth phases of the River Parc master plan, a $1 billion mixed-income redevelopment project. At full build-out, River Parc will offer 2,500 affordable, workforce and market-rate apartment units. Residents will have access to the Robert King High Community Center, a one-story clubhouse adjacent to Robert King High, as well as 15,000 square feet of commercial …

November 6, 2023

Affordable Housing Development News Texas

Schertz Housing Authority, The NRP Group Break Ground on 300-Unit Affordable Housing Community Near San Antonio

by Channing Hamilton November 6, 2023

SCHERTZ, TEXAS — A partnership between the Schertz Housing Authority and The NRP Group have broken ground on Aviator 1518, a 300-unit affordable housing development in Schertz. The project is financed through four percent housing tax credits allocated by the Texas Department of Housing and Community Affairs. Additional development partners include Bank of America, Bexar County, Texas Home Collaborative, Coats Rose, MTR Engineering and Alta Architects. Aviator 1518 will offer units in one-, two-, three- and four-bedroom floor plans. Units in the complex’s three-story central building are built with elevator-accessible …

November 6, 2023

Residences at Durango in Durango, Colorado

Affordable Housing Colorado Development News Western

TWG to Convert Hotel in Durango, Colorado, Into $35 Million Affordable Housing Community

by Channing Hamilton November 1, 2023

DURANGO, COLO. — TWG will construct Residences at Durango, a $35 million affordable housing complex in the southwestern Colorado city of Durango. The project is an adaptive reuse of a former hotel, which is now set to be converted into 120 apartments. Units will come in studio, one- and two-bedroom floor plans, and will be affordable to tenants earning at or below 30 to 60 percent of the area median income. Amenities will include a business center, exercise facility, laundry facility, playground, picnic area and Wi-Fi connectivity in common areas. …

November 1, 2023

Marine Drive Apartments in Buffalo, New York

Affordable Housing Development New York News Northeast

Habitat Secures Approval for $400 Million Affordable Housing Redevelopment in Buffalo, New York

by Channing Hamilton October 30, 2023

BUFFALO, N.Y. — Habitat, a developer and property manager based in Chicago, has received planned unit development approval from the Buffalo Common Council to redevelop Marine Drive Apartments. The $400 million project is a joint venture between Habitat, Duvernay + Brooks and the Buffalo Municipal Housing Authority. The property currently comprises 616 units across seven 12-story towers, which were built more than 70 years ago and have since fallen into disrepair. Phase one of the redevelopment will include constructing a mix of new towers on the lot adjacent to the complex’s current buildings. …

October 30, 2023

Sangre De Cristo Apartments in Santa Fe, New Mexico

Affordable Housing Development Investment Sales New Mexico News Western

CPP Acquires Two Affordable Communities in Santa Fe, New Mexico, for $41.8 Million

by Channing Hamilton October 25, 2023

SANTA FE, N.M. — Community Preservation Partners (CPP) has acquired two affordable housing developments in Santa Fe, Sangre De Cristo Apartments and Santa Fe Apartments, for $41.8 million. The developer also plans to invest a further $51.9 million to renovate both properties. Once renovated, the two communities will be restricted to households earning below 60 percent of the area median income and will continue to benefit from project-based rental assistance. Santa Fe Apartments is located at 255 Camino Alire. The property features 64 units and was built in 1968. Sangre …

October 25, 2023

Newer Posts

Older Posts