NEW YORK CITY — The Davis Cos. has broken ground on a 97-unit project located at 1975 Madison Ave. in Harlem. The building will rise eight stories and offer one- and two-bedroom units. Of the total unit count, 30 percent will be set aside as affordable housing. Income restrictions on these units were not disclosed. Planned amenities include a fitness center, resident lounge, co-working space, pet spa and a rooftop terrace. DXA Studio designed the project. Broadway Construction Group is the general contractor. The project is slated to deliver in …
NEW YORK CITY — A partnership consisting of Slate Property Group and RiseBoro Community Partnership has purchased the 350-room JFK Hilton Hotel in New York City’s Queens borough. The partnership plans to convert the property, which was originally built in 1987, into a 318-unit affordable housing complex. The new complex will be called Baisley Pond Park Residences. Units will come in studio, one- and two-bedroom layouts. Planned amenities include a fitness center, computer lounge and multiple common rooms. As part of the conversion, the development team will replace all major …
SOUTH HILL, VA. — Advantage Capital has provided financing to construct Mecklenburg Manor, a 51-unit affordable housing community in South Hill, a rural town 80 miles south of Richmond. Mecklenburg Manor will comprise seven buildings. The complex will offer one-, two- and three-bedroom units to households earning between 40 and 60 percent of the area median income. The company has partnered with Gateway Development Associates and NFP Affordable Housing Corp. to construct the community. Advantage Capital invested in the development through the Virginia Housing Opportunity Tax Credit program, which is …
OAKLAND, CALIF. — Resources for Community Development (RCD) plans to develop a six-story affordable housing community in Oakland. The complex will offer 77 units, as well as a community room, courtyard with a play structure, leasing offices and ground-floor retail space. Units will be affordable to households earning between 20 and 50 percent of the area median income. On-site supportive services will be available to formerly homeless residents. RCD expects to receive a building permit for the project in late 2023. Construction will begin in the first quarter of 2024. …
ATLANTA — Stryant Investments has broken ground on Ralph David House, an adaptive-reuse development that converts a former motel in Atlanta’s Reynoldstown neighborhood into 54 units of permanent supportive housing. The community will be affordable to households earning at or below 30 percent of the area median income. Rents and utility costs combined will also be capped at 30 percent of each tenant’s income. The complex is slated to open in the fall of 2024. Atlanta Beltline Inc. invested $550,000 into the project through the BeltLine’s TAD Increment Fund, which …
CHICAGO — The NHP Foundation (NHPF) has opened Covent Apartments, the redevelopment of the former Covent Hotel in Chicago’s Lincoln Park neighborhood. The 30-unit affordable housing property is now a single-room occupancy (SRO) property. SRO housing is defined as a residential property that includes multiple single-room units, according to HUD. The total cost of development for the project was $21.6 million, including $7.9 million in federal Low-Income Housing Tax Credits and historic tax credits, $5 million of City Home and Affordable Housing Opportunity Funds, $3.1 million in Illinois Housing Development …
SILVER SPRING, MD. — Green Street Housing and TM Associates Development have broken ground on Sligo Apartments, an affordable housing development in Silver Spring. All 102 units at the community will be available at restricted rents. The project is financed through a Low Income Housing Tax Credit (LIHTC) investment from Hudson Housing Capital and Capital One, who is also providing the permanent debt financing, as well as loans from the Maryland Department of Housing and Community Development.
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 …
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 …
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 …