Affordable Housing

Linwood-and-Troost-Kansas-City
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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Cartwright-Family-Apartments-Irvine
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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Jeff-Goll-Hillpointe
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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Choice-Neighborhood-V-Newport-News
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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Freddie Mac
Affordable HousingDevelopmentFeaturesFinanceSeniors Housing

Fannie Mae, Freddie Mac Enter Bullish Phase

by Lynn Peisner

By John Nelson Fannie Mae and Freddie Mac are scaling up their multifamily loan production this year while their partner servicers and underwriters are aggressively pursuing new business. The Federal Housing Finance Agency (FHFA), which has been the conservator of the two government-sponsored enterprises (GSEs) since 2008, blew open the annual lending caps for the two agencies this year. The new caps are set at $88 billion apiece, which is a more than 20 percent increase from the 2025 cap and the highest dollar amount allotted by the FHFA since …

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dulce-vida-Miami
Affordable HousingDevelopmentFeaturesFlorida

Florida’s Live Local Amendments Remove Barriers and Open New Doors for Workforce and Affordable Housing

by Lynn Peisner

By Steve Wernick For years, church-owned land and government parcels sat unused in the middle of Florida’s housing shortage. They were available in theory, but off-limits in practice. Now, through House Bill (HB) 1389, a new round of amendments to the Live Local Act is unlocking that land, limiting local roadblocks and expanding how and where affordable housing can be built across the state. The amendments were approved in March and go into effect July 1. Florida’s housing market continues to gain momentum, and with it comes an opportunity to …

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Affordable HousingDevelopmentMassachusettsNewsNortheast

TCB Opens Province Post, Bringing 65 Affordable Units to Provincetown, Massachusetts  

by Lynn Peisner

PROVINCETOWN, MASS. — The Community Builders (TCB) and the Town of Provincetown have opened Province Post, a 65-unit mixed-income community intended to serve the year-round workforce and residents of the Cape Cod resort town. Units are reserved for renters earning from 80 to 30 percent of area median income. Amenities include shared patios, a laundry room, seating areas, bike racks and direct access to a bike path. A variety of sources provided funding, including the Town of Provincetown, MassHousing, the Executive Office of Housing and Livable Communities, Community Economic Development …

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