Affordable Housing

Residences-at-Plantation-Square
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

City of Plantation Grants MMG Equity Partners Approvals, Financing for Florida Mixed-Income Development

by Lynn Peisner

PLANTATION, FLA. — MMG Equity Partners has received site plan approval and $6 million in tax-increment financing (TIF) incentives from the City of Plantation for the development of Residences at Plantation Square. The project will include luxury apartments, workforce apartments and a new Bank of America building, all located within Plantation Square, a 10-acre mixed-use development in the Broward County city of Plantation, about 8 miles west of Fort Lauderdale. Residences at Plantation Square will include an eight-story residential building with 307 apartments and a six-story parking garage. Amenities include …

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The-Haywood-Greenville
Affordable HousingInvestment SalesNewsSouth CarolinaSoutheast

Comunidad Partners Buys The Haywood in Greenville

by Lynn Peisner

GREENVILLE, S.C. — Comunidad Partners, an Austin, Texas-based workforce housing investment firm, has acquired The Haywood, a 234-unit property located at 100 Gloucester Ferry Road in Greenville. The seller and sales price were not disclosed. Comunidad is planning renovations that will update interiors, improve curb appeal and upgrade amenities.

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Affordable HousingDevelopmentLeasing & MarketingMidwestNebraska

The Annex Group Opens $52.7 Million Nebraska Affordable Housing

by Lynn Peisner

LINCOLN, NEB. — The Annex Group has completed development of and begun leasing at Union at Antelope Valley, an affordable housing community in Lincoln offering 187 one-, two- and three-bedroom units to households whose income level is at or below 60 percent of the area median income. The $52.7 million community is situated on 1.7 acres on the east side of downtown Lincoln. It offers amenities such as a community and fitness center, a dog park and a courtyard. The ground floor of the building houses a parking garage with …

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westbeth
Affordable HousingDevelopmentNew YorkNewsNortheast

Merchants Capital Secures Funding for Westbeth Artists Housing Redevelopment

by Lynn Peisner

NEW YORK CITY — Merchants Capital has provided $25.2 million in financing for the recapitalization and redevelopment of Westbeth Artists Housing, a 384-unit, historic, mixed-use affordable housing development in New York City. A state-sponsored program, Homes and Community Renewal Multifamily Preservation (HCR), also contributed $63 million. Chase is also a financing partner, but details about the company’s contribution were not released. The rehab will replace roofing, elevators, windows and radiators; restore the building’s façade; renovate 32 apartments; and install energy-efficient updates, including green roofs. Westbeth Artists Housing is owned by …

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Wild-Pines
Affordable HousingBerkadiaFinanceFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Acquisition Financing for Naples, Florida, Deal

by Lynn Peisner

NAPLES, FLA. — Interface Properties has acquired Wild Pines of Naples from an undisclosed seller and undisclosed total sales price. Berkadia arranged $26.6 million in acquisition financing, which includes a $20.6 million senior loan and an additional $6 million supplemental through Freddie Mac. Senior Managing Director Mitch Sinberg, Director Michael Basinski and Managing Directors Scott Wadler, Brad Williamson and Matt Robbins led the Berkadia team. Half of the community’s 200 units are income-restricted, but specifics weren’t disclosed. The property was built in multiple phases between 1968 and 2001. Wild Pines …

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The-Riverie
Affordable HousingDevelopmentLeasing & MarketingNew YorkNewsNortheast

Leasing Begins at The Riverie in Brooklyn’s Greenpoint Neighborhood

by Lynn Peisner

NEW YORK CITY — Lendlease has launched pre-leasing at The Riverie, an 834-unit mixed-income development in the Greenpoint area of Brooklyn that fronts the East River. Thirty percent of the units are designated affordable, but specific rent caps were not disclosed. Designed by Marvel Architects, The Riverie includes a 37-story and a 20-story tower with a connected mid-rise podium. The property also includes approximately 13,000 square feet of retail space, as well as an 18,000-square-foot public waterfront esplanade connecting to the India Street Pier, which is served by the NYC …

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Lauderhill-Point
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

Fairstead Completes $17.7 Million Broward County Rehab

by Lynn Peisner

LAUDERHILL, FLA. — Fairstead has completed the $17.7 million renovation of Lauderhill Point, a 176-unit affordable housing community in Lauderhill. Fairstead acquired Lauderhill Point in 2024 for $26.5 million. Total acquisition and redevelopment costs amounted to $68.7 million, or approximately $390,000 per residence. Financial partners on the acquisition included the Housing Finance Authority of Broward County, which helped obtain $40 million in tax-exempt bond financing, and the Florida Housing Finance Corp., which facilitated $25 million via the Low-Income Housing Tax Credit (LIHTC) program. Additional financial partners included Freddie Mac, PNC …

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Residences-at-Rubi
Affordable HousingDevelopmentNewsTexas

PPR Completes Austin Mixed-Income Development

by Lynn Peisner

AUSTIN, TEXAS — PPR Capital Management has completed The Residences at Rubi, the private equity firm’s first ground-up construction project. PPR broke ground on the $21.7 million development in October 2023. IE2 Construction was the general contractor, and Avita Property Management is handling lease-up and property management. The 101-unit property offers a mix of affordable and market-rate units. Ten percent of units are reserved for tenants earning 30 percent of area median income (AMI) or below, 20 percent are rent capped at 50 percent AMI, and 20 percent are reserved …

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The-Ford-Apartments-Denver
Affordable HousingColoradoDevelopmentNewsWestern

Evergreen Real Estate Group Secures Land, Tax Credits for Denver Affordable Development

by Lynn Peisner

DENVER — Evergreen Real Estate Group has closed on land and secured 9 percent Low-Income Housing Tax Credits through the Colorado Housing and Finance Authority for the development of The Ford Apartments, a six-story, 60-unit community in Denver’s Baker neighborhood. Monthly rents will be income-capped at 30 to 80 percent of area median income. Evergreen expects to break ground on the project in early 2026 and to complete it in fall of 2027. Located at 155 W. 5th Ave., the site is situated adjacent to the Denver Health hospital campus. …

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Mill-and-Miss
Affordable HousingDevelopmentMidwestMinnesotaNews

Oppidan Breaks Ground on Workforce Housing in Grand Rapids

by Lynn Peisner

GRAND RAPIDS, MINN. — Oppidan Investment Co., a national property development firm headquartered in Excelsior, Minnesota, has broken ground on Mill + Miss, a new workforce housing project in Grand Rapids, located 178 miles north of Minneapolis. The 121,000-square-foot, 132-unit development is comprised of one-, two- and three-bedroom floor plans. The developer expects to complete the project in March 2027. Oppidan partnered with the City of Grand Rapids, the Grand Rapids Economic Development Authority, Iron Range Resources & Rehabilitation Board and the Minnesota Housing Finance Agency through the state’s Workforce …

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