Affordable Housing

Topeka-Annex-Group
Affordable HousingDevelopmentKansasMidwestNews

Annex Group Breaks Ground on $60 Million Kansas Affordable Housing Project

by Lynn Peisner

TOPEKA, KAN. — The Annex Group broke ground on Union at Tower District, an affordable housing development in Topeka, on June 3. Situated on approximately four acres, the project will include 250 one-, two- and three-bedroom units for households earning 30 to 60 percent of area median income. The $60 million Union at Tower District will consist of two four-story buildings and one three-story building. Amenities will include a courtyard, dog park, playground, community center and fitness center. Project partners include BVH Architecture, REGA Engineering, SBB Engineering, the City of …

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Roosevelt-Road
Affordable HousingDevelopmentIllinoisMidwestNews

Related Midwest Completes Third Phase of Roosevelt Redevelopment in Chicago

by Lynn Peisner

CHICAGO — Related Midwest has opened three mixed-income buildings as part of the third phase of its 67-acre Roosevelt Square redevelopment in Chicago. Related Midwest completed development of 207 units including 75 public housing, 40 affordable and 92 market-rate units as well as 10,000 square feet of retail space. The multiphase Roosevelt project is a redevelopment of the ABLA Homes site, which was a Chicago Housing Authority public-housing project made up of four buildings dating back to the 1930s. Each building includes 70 apartments with studios, one-, two- and three-bedroom …

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InterFace-Affordable-Housing-Southeast-Design-panel
Affordable HousingArchitecture & DesignConference CoverageFeaturesNewsSoutheast

InterFace Conference Coverage: Affordable Housing Architects Push the Limits of Design Amid Rising Costs  

by Lynn Peisner

ATLANTA — The United States is short 6.8 million affordable housing units, according to the National Low Income Housing Coalition. Developers and owners are driven by a mission to meet this critical shortage. This national problem is fueling the work of architects and designers. Like developers, they, too, have picked up the baton — or the pencil, as the case may be — and applied practices that are custom-tuned to bring much-needed rental housing to market as quickly and efficiently as possible. Editor’s note: InterFace Conference Group, a division of …

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Kevin-Mckee
Affordable HousingCompany NewsNewsPeople NewsTexas

Dominium Hires Vice President of Asset Management

by Lynn Peisner

DALLAS — Affordable housing developer, owner and manager Dominium has hired Kevin McKee as the company’s new vice president of asset management. McKee will be responsible for optimizing property operations while also working with Dominium’s project partners to maximize long-term financial value. Additionally, McKee will lead technology-driven improvements, the adoption of best practices and the development of annual asset-management business plans. Prior to joining Dominium, McKee served as chief operating officer for E&S Ring Management Corp. Earlier in his career, McKee held senior executive roles at Rose Community Management, Related …

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Link-at-Douglas-Phase-2
Affordable HousingDevelopmentFloridaNewsSoutheast

Developers Secure $125 Million Loan, Break Ground on Cadence in Miami

by Lynn Peisner

MIAMI — Locally based developer 13th Floor Investments, in partnership with Barings, a subsidiary of MassMutual, has secured a $125 million construction loan from a syndicate of Santander Bank and TD Bank to finance the development of Cadence in Miami. Now under construction, the 35-story tower will include 432 market-rate apartments. About 54 units will be set aside as workforce housing, but specific income restrictions were not disclosed. Developers estimate the project will be complete by February 2028. Cadence is the third residential building to be constructed within the mixed-use, …

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Haven-on-Main
Affordable HousingDevelopmentFinanceMidwest

Cinnaire Raises $340 Million Fund for Affordable Housing Development in 11 States

by Lynn Peisner

LANSING, MICH. — Cinnaire, a nonprofit financial services company based in Lansing, has raised $340 million, which will finance 33 affordable housing developments in 11 states. Dubbed Fund 43, the LIHTC financing will back a total of 2,455 affordable housing units. Haven on Main in La Crosse, Wisconsin, will be one of the projects. It will be a 70-unit community including 59 affordable units and 11 market-rate units. Eighteen units will be reserved for individuals with intellectual and developmental disabilities, veterans and those experiencing chronic homelessness. Half of the total …

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Ekos-on-Evans_New-Playground
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners to Develop LIHTC Project in Fort Myers

by Lynn Peisner

FORT MYERS, FLA. — McDowell Housing Partners (MHP) has secured financing and acquired land for Ekos on Evans, an affordable housing development in Fort Myers. Under the directives of Florida’s 4 percent low-income housing tax credit program, residences will be reserved for tenants earning 30, 60 or 70 percent of area median income. The 144-unit property consists of five garden-style buildings with one-, two- and three-bedroom floor plans. Amenities will feature a clubhouse, computer room, fitness center, terrace, grills, pool, a playground and a dog park. Construction of Ekos at …

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Telestar Court
Affordable HousingDevelopmentFinanceNewsNortheastWashington, D.C.

Advantage Capital Arranges Tax Credits For $51 Million D.C.-Area Affordable Housing Redevelopment

by Lynn Peisner

FALLS CHURCH, VA. — Advantage Capital has secured $15 million in state low-income housing tax credits for Telestar Court, Conifer Realty’s office-to-residential redevelopment in Falls Church. The total project cost for the affordable housing project is $51 million. Advantage Capital arranged the tax credits in connection with the Virginia Housing Opportunity Tax Credit program, a tool for expanding the supply of affordable housing across the commonwealth. The former medical office building will be converted to an 80-unit community serving residents earning between 30 and 80 percent of area median income. …

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Cienega-Heights
Affordable HousingCaliforniaDevelopmentNewsWestern

Mid-Pen Completes Second Phase Of Affordable Development In Santa Cruz County

by Lynn Peisner

WATSONVILLE, CALIF. — MidPen Housing opened Cienega Heights, an 80-unit affordable housing property in Watsonville, on May 23. Watsonville is about 50 miles south of San Jose. Thirty-nine of the 80 units were designed to serve farmworkers. Watsonville is situated in the Pajaro Valley, where several farms grow crops such as fruits, vegetables and flowers. The units are reserved for residents earning 30 to 60 percent of area median income, or approximately $38,040 to $108,660 per year, depending on household size. Cienega Heights is the second phase of a three-phase …

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Affordable-Housing-Southeast_Developer
Affordable HousingConference CoverageFeaturesSoutheast

Affordable Housing Developers Aim to Control What They Can Control, Say InterFace Panelists

by Lynn Peisner

ATLANTA — Interest rates. Tariffs. Natural disasters. These three factors alone frighten any developer, let alone those who are tasked with delivering our nation’s affordable housing supply. Just to get to the ribbon-cutting ceremony, developers have an uphill climb. They have to obtain the land outright or in a ground lease agreement, navigate the permitting and entitlement processes, overcome any neighborhood pushback, raise equity and borrow the necessary capital and then build these communities on time and on budget. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces …

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