Affordable Housing

Sanara-Austin
Affordable HousingDevelopmentNewsTexas

The NRP Group Breaks Ground on Sanara, an Affordable Housing Community in Austin

by Lynn Peisner

AUSTIN, TEXAS — The NRP Group, alongside the Housing Authority of Travis County, has broken ground on Sanara, a 348-unit affordable housing community in Southeast Austin. All apartments will be rent restricted to 60 percent of area median income. Located at 4401 E. Slaughter Lane, the development will span 13 three-story residential buildings across a 56-acre site. The community will include 12 one-bedroom units, 120 two-bedroom units, 144 three-bedroom units and 72 four-bedroom units. Sanara also will provide residents a 24-hour fitness center, business center with coworking space, clubhouse with a …

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In-Town-Lubbock
Affordable HousingArchitecture & DesignDevelopmentNewsTexas

Former Mid-Century Motor Lodge in Downtown Lubbock, Texas, Opens as Affordable Housing Community

by Lynn Peisner

LUBBOCK, TEXAS — Housing Trust Group (HTG), AM Affordable Housing and Thoman and Butler have completed and opened the redevelopment of the In Town Inn, a mid-century motor lodge, into a new affordable housing community. Located at 1202 Main Street in downtown Lubbock, the 56-unit community serves residents earning at or below 30, 50, 60 and 80 percent of area median income. Built in 1964, the property functioned as a motel until the 1990s when it became the Jim Kimmel Center rehab facility. HTG acquired the property in 2023. Wallace …

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Oxxford-Lofts-West-Loop-Chicago
Affordable HousingDevelopmentIllinoisMidwestNews

Missner Group, Base 3 Begin Construction on $42M Industrial-to-Residential Project in Chicago

by Lynn Peisner

CHICAGO — The Missner Group and Base 3 have begun construction of Oxxford Lofts, an industrial-to-residential project in Chicago’s West Loop area that is a redevelopment of the former Oxxford Clothes factory, built in 1910, into a 112-unit community. Twenty percent of units at the new Oxxford Lofts will be set aside as affordable housing. Rent restrictions were not disclosed. Plans for the $42 million gut-renovation project include all new building systems and upgraded sustainability features. The development will also include a rooftop deck, fitness center, coworking space and secure …

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Affordable HousingConference CoverageFeaturesSoutheast

Affordable Housing Stakeholders Are Going the Extra Mile to Assist Cost-Burdened Renters, Says InterFace Panel

by Kristin Harlow

ATLANTA — Affordable housing developers are fighting an uphill battle, and on multiple fronts. On the demand side, renters are more cost-burdened than ever before. According to the “America’s Rental Housing 2026”report from the Joint Center for Housing Studies of Harvard University, the number of renters who are cost-burdened (households that spend more than 30 percent of their income on rent and utilities) reached a new record high in 2024. The report found that 22.7 million renter households were cost-burdened in 2024, with 12.1 million households qualifying as “severely cost-burdened” …

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Normandy-Cove-Jacksonville
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on Normandy Cove in Jacksonville, Florida

by Lynn Peisner

JACKSONVILLE, FLA. — Housing Trust Group (HTG) has secured financing and begun construction of Normandy Cove, a 144-unit affordable housing community in the Westside area of Jacksonville. Apartments will be reserved for income-qualifying renters earning up to 30, 60 and 70 percent of area median income, with monthly asking rents ranging from $470 to $1,716. Half of Normandy Cove’s units will be specifically for active-duty military members and veterans, including some units solely for veterans experiencing homelessness. HTG is partnering with local organizations Hope4Veterans and I.M. Sulzebacher Center for the …

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Twelve03-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Secures $100.5M in Construction Financing for Twelve03 at Centre South in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged $100.5 million in debt and equity for the construction of Twelve03 at Centre South, a 329-unit mixed-income community in Charlotte. Boston-based The Fallon Co. is the developer and borrower. The debt was secured through TD Bank, while RXR Realty Investments was the equity source. JLL’s Taylor Allison, Alexis Kaiser and Ryan Mueller handled the transaction. Led by The Fallon Co. in partnership with Charlotte-based Inlivian, Twelve03 is the first phase of Centre South, a $500 million, 16.7-acre mixed-use development. When complete, the project will …

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James-Crowder-TruAmerica
Affordable HousingCompany NewsNewsPeople News

James Crowder to Lead Affordable Housing Investment and Development for TruAmerica Multifamily

by Lynn Peisner

LOS ANGELES — TruAmerica Multifamily has appointed James Crowder as managing director of affordable housing. In this role, Crowder will lead the firm’s affordable housing acquisitions, development and preservation initiatives. Often referred to as “Capital A” affordable housing, TruAmerica’s investment strategy focuses on income-restricted rental housing backed by state and federal tax credit programs, including the Low-Income Housing Tax Credit (LIHTC) program. Prior to joining TruAmerica, Crowder served as vice president of acquisitions and asset management at CCI, where he led investment strategy and portfolio performance. He previously held senior roles …

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Silver-Oaks-Tampa
Affordable HousingDevelopmentFloridaInvestment SalesNewsSoutheast

Fairstead Invests $54.7M to Acquire and Redevelop Silver Oaks Apartments in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — New York City-based affordable housing developer Fairstead has announced the $54.7 million acquisition and rehabilitation of Silver Oaks Apartments in Tampa. The 200-unit property was built in 1973 and is governed by Section 8 and Low-Income Housing Tax Credit (LIHTC) affordability restrictions, with all units reserved for households earning up to 60 percent of area median income. Construction and redevelopment efforts at Silver Oaks Apartments will begin in the second quarter of this year with completion slated for the third quarter of 2027. Located at 4200 Kenneth …

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AnnikaPlaceII-Traverse-City
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens $19.3M Phase II of Annika in Traverse City

by Lynn Peisner

TRAVERSE CITY, MICH. — Woda Cooper Cos. has completed and opened Annika II, a $19.3 million, 58-unit affordable housing community in Traverse City. The 29 one-bedrooms and 24 two-bedrooms are reserved for families earning up to 30 to 80 percent of area median income. Some units are specifically set aside for tenants with developmental disabilities, supported by project partner Goodwill Industries. The first phase of this project opened in 2024 and included 53 one- and two-bedroom units offered with the same rent restrictions as Phase II. The Phase I project …

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Lazuli-Landing-Union-City
Affordable HousingCaliforniaDevelopmentNewsWestern

Mid-Pen Housing Breaks Ground on Lazuli Landing in Union City, California

by Lynn Peisner

UNION CITY, CALIF. — MidPen Housing has begun construction of Lazuli Landing, an 81-unit affordable housing property in Union City’s Decoto neighborhood. The one-, two- and three-bedroom units will be reserved for residents earning between 20 to 60 percent of area median income, which ranges from yearly salaries of $31,690 to $95,880 for a family of four. Prospective residents who live and work in Union City or Alameda County will be given preference over non-local renters. Alameda County voters approved $13.2 million for the project. In addition to the City …

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