Wednesday, January 15, 2025
Read the Digital Magazines Subscribe to the Newsletter

Affordable Housing

Union at North Crossing in Waterloo, Iowa
Affordable HousingDevelopmentFinanceIowaMidwestNews

The Annex Group to Build $37 Million Affordable Community in Waterloo, Iowa

by Channing Hamilton

WATERLOO, IOWA — The Annex Group will develop Union at North Crossing, an affordable community in Waterloo, which is in Black Hawk County, Iowa. Union at North Crossing will be a garden style complex offering 180 units across five buildings. Units will come in one-, two- and three-bedroom layouts. The community will be affordable to households earning at or below 60 percent of the area median income. Union at North Crossing is slated to open in summer of 2024. Iowa Finance Authority issued the tax credit award and $25 million …

Continue Reading
0 FacebookTwitterLinkedinEmail
115-123 Essex St. and 125 Essex St. in Lawrence, Massachusetts
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassDevelopment, Reading Cooperative Bank Provide $6.6 Million for Affordable Housing Conversion in Lawrence, Massachusetts

by Channing Hamilton

LAWRENCE, MASS. — The Jowamar Cos. has secured a $6.6 million loan to convert two vacant buildings in Lawrence, approximately 30 miles north of Boston, into a 24-unit affordable housing community. The buildings previously offered a mix of office and retail space. The retail space will be repurposed as a food hall for the community. Details on income restrictions were not disclosed. MassDevelopment and Reading Cooperative Bank provided the financing. MassDevelopment and Reading Cooperative Bank were equal participants in the loan, and MassDevelopment also enhanced the loan with a guarantee. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Halawa View II in Honolulu, Hawaii
Affordable HousingDevelopmentFinanceHawaiiNewsWestern

Joint Venture Secures Financing for $168.1 Million Affordable Community in Honolulu

by Channing Hamilton

HONOLULU — Hunt Capital Partners (HCP), Pacific Development Group (PDG) and Hunt Development Group (HDG) secured $68.9 million in federal Low-Income Housing Tax Credit (LIHTC) equity and $24.4 million in state LIHTC equity financing for Halawa View II, a high-rise development in Honolulu. The building will complement the first phase of Halawa View, which was constructed in 1972 and renovated in 2012. Hunt Capital Partners facilitated the LIHTCs through its proprietary fund with JPMorgan Chase. The Bank of Hawaii, with participation from American Savings Bank and Central Pacific Bank, provided construction financing …

Continue Reading
0 FacebookTwitterLinkedinEmail
Woodward Way Apartments in Meridian Township, Michigan
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens $13.9 Million Woodward Way Apartments Near Lansing, Michigan

by Channing Hamilton

MERIDIAN TOWNSHIP, MICH. — Woda Cooper Cos. has opened Woodward Way Apartments, a 49-unit affordable community in Meridian Township, which is 10 miles east of Lansing, Michigan. Financing for the $13.9 million property was supported with federal Low-Income Housing Tax Credits allocated by MSHDA through its competitive Qualified Allocation Plan. Units at Woodward Way Apartments are available to households earning between 30 and 80 percent of the area’s median income. In addition, eight units have attached rental assistance through Project Based Vouchers awarded by the Lansing Housing Commission. There are five …

Continue Reading
0 FacebookTwitterLinkedinEmail
Stoneybrook Heights Apartments in Johnson City, Tennessee
Affordable HousingInvestment SalesNewsSoutheastTennessee

Blue Vista Capital Partners Acquires Stoneybrook Heights Apartments in Johnson City, Tennessee

by Channing Hamilton

JOHNSON CITY, TENN. — Blue Vista Capital Partners has acquired Stoneybrook Heights Apartments, an apartment complex in the eastern Tennessee city of Johnson City. Stoneybrook Heights was built in 1998 through the LIHTC program and will become a fully market-rate property in the second half of 2024. Currently, 45 percent of units are market rate. Rent restrictions for the property were not disclosed. The community comprises 88 units across 11 two-story buildings, as well as a single-story leasing office. Units come in two-, three- and four-bedroom layouts.

Continue Reading
0 FacebookTwitterLinkedinEmail
22501 Hawthorne Blvd. in Torrance, California
Affordable HousingCaliforniaDevelopmentInvestment SalesNewsWestern

Intracorp Homes Acquires 3.8-Acre Redevelopment Site in Torrance, California for $21 Million

by Channing Hamilton

TORRRANCE, CALIF. — Intracorp Homes purchased 22501 Hawthorne Blvd., a 3.8-acre site in Torrance, from a locally based private investor for $21 million. John Read, Greg Sullivan and Trent Steeves of CBRE represented the seller. The property was historically a retail center anchored by a bowling alley called Gable House Bowl. Intracorp Homes plans to redevelop the site into a mixed-use project, which will include 17 affordable rental units as well as commercial space. Details on rent restrictions for the affordable units have not yet been disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Estrella Vista in Emeryville, California
Affordable HousingDevelopmentFinanceIndustry Voices

Why Affordable Housing is the Most Needed Investment of 2023

by Channing Hamilton

Despite many regional and federal efforts, there is a staggering deficit of over seven million affordable and workforce housing units, according to the National Low Income Housing Coalition (NLIHC). For many, this can seem like an insurmountable challenge. However, housing professionals and developers able and willing to navigate the sector’s many nuances have the opportunity to do good while doing well, tapping into insatiable demand while building out their long-term pipelines. Recognizing the Scope of the Problem Location is the most important factor for many builders when searching for and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentIndianaMidwestNews

TWG to Break Ground on $9 Million West Braden Lofts in West Baden Springs, Indiana

by Channing Hamilton

WEST BADEN SPRINGS, IND. — TWG plans to begin construction on West Baden Lofts, a $9 million affordable housing community in West Baden Springs, this month. West Baden Springs is a town located in southern Indiana’s French Lick Township. Project funding comes from the Indiana Housing and Community Development Authority, Innovative Veteran Affairs Real Estate, Merchants Capital, Cedar Rapids Bank & Trust and the Town of West Baden Springs. The 44-unit development will offer two- and three-bedroom floor plans. Units will be reserved for households making 30 to 60 percent …

Continue Reading
0 FacebookTwitterLinkedinEmail
499 President St. in Brooklyn, New York
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Joint Venture Secures $80 Million to Construct Mixed-Use Development in Brooklyn, New York

by Channing Hamilton

BROOKLYN, N.Y. — A joint venture consisting of The Brodsky Organization, Avery Hall Investments and Battery Global Advisors has secured an $80 million land recapitalization and equity capitalization to build a mixed-use community located at 499 President St. in Brooklyn’s Gowanus neighborhood. The property is slated for completion in 2025 and will rise nine stories, with 20,000 square feet of retail space on the ground floor. Of the total 350 units, 262 will be market rate units and 88 will be affordable. Details regarding rent restriction were not disclosed. Christopher …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingConnecticutNewsNortheast

Greystone Provides $35 Million to Refinance Barnbeck Place Apartments in Brookfield, Connecticut

by Channing Hamilton

BROOKFIELD, CONN. — Greystone has provided a $35 million Fannie Mae loan to refinance Barnbeck Place Apartments, a 165-unit property in Brookfield in Fairfield County, Connecticut. The new Fannie Mae loan includes a fixed-rate, five-year term with a 35-year amortization and is interest-only for the first three years. The financing was originated by Dan Sacks and Avi Kozlowski of Greystone, with Platinum Capital Group acting as correspondent on the transaction. Barnbeck Place Apartments offers studio, one- and two-bedroom units. Twenty percent of units are reserved for residents earning at or below …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.