Affordable Housing

Woda Cooper and Partners Break Ground on $39M Livewell Terrace in Bluffton, South Carolina

by Lynn Peisner June 23, 2026

BLUFFTON, S.C. — Beaufort Memorial and Woda Cooper Cos. have begun construction of Livewell Terrace, a 120-unit affordable housing community in Bluffton, 23 miles northeast of Savannah, Georgia. The project consists of a mix of one-, two- and three-bedroom units rented at monthly rates ranging from $700 to $1,725. Amenities will include a business center, fitness facility, playground and community park. Livewell Terrace is being constructed on 7 acres of land provided by Beaufort Memorial, a nonprofit hospital system. The community is intended to serve healthcare workers. The $39 million …

June 23, 2026

Affordable Housing Development Finance News Northeast

PNC Bank Closes $251.4M Fund to Support 16 Affordable Housing Projects

by Lynn Peisner June 23, 2026

PITTSBURGH — PNC Bank has closed the Low-Income Housing Tax Credit (LIHTC) Fund 104, a $251.4 million fund focused on the development and preservation of affordable rental housing across the United States. The fund includes investments from nine financial services and insurance companies, as well as PNC. Fund 104 is expected to support 16 multifamily properties nationwide, providing over 1,700 affordable units for families and seniors. The portfolio includes a mix of new construction and rehabilitation developments in Arizona, California, Kentucky, Minnesota, New Mexico, Nevada, North Carolina, Tennessee, Texas, Virginia and …

June 23, 2026

Affordable Housing California Development Finance News Western

Standard Communities Secures $53.1M for LIHTC Development Near San Francisco

by Lynn Peisner June 19, 2026

ANTIOCH, CALIF. — Walker & Dunlop has arranged a $53.1 million loan for the construction of Joyfield at Lakeview Center, a Low-Income Housing Tax Credit (LIHTC) affordable housing community in Antioch, approximately 45 miles west of San Francisco. Standard Communities is the developer and borrower. Joyfield Lakeview Center consists of 233 units across seven three- and four-story buildings that will be reserved for tenants earning up to 30 or 70 percent of area median income. Amenities include a clubhouse, fitness center, business center, playground, courtyard and dog park. Completion is …

June 19, 2026

Affordable Housing Investment Sales News South Carolina Southeast

South Carolina Acquisition Takes Waverly Place from Market-Rate to Affordable Housing

by Lynn Peisner June 17, 2026

NORTH CHARLESTON, S.C. — A joint venture comprised of McLean, Virginia-based KETTLER and The Stillman Group of Scarsdale, New York, has sold Waverly Place, a 276-unit community in North Charleston. The buyer was the Charleston Workforce Housing Fund, an impact fund led by Charlotte, North Carlonia-based Ascent Housing in partnership with Housing Collaborative, a Charleston-based affordable housing nonprofit. The acquisition is part of a citywide initiative to expand affordable and workforce housing across the region. According to The Post and Courier, the asset sold for approximately $41 million. Newmark’s Alex …

June 17, 2026

Affordable Housing Finance New York News Northeast

Rockrose Obtains $69.5M Refinancing for West Village Asset

by Lynn Peisner June 17, 2026

NEW YORK CITY — JLL Capital Markets has arranged a $69.5 million Freddie Mac refinancing loan for 100 Jane, a 148-unit property in Manhattan’s West Village neighborhood. The borrower was Rockrose Development Corp. Located at 100 Jane St. and built in 1996, the property includes 117 market-rate units, 30 affordable units and one superintendent unit. Rent restrictions were not disclosed. Amenities include a landscaped rooftop terrace, fitness center and laundry facilities. The JLL team representing the borrower was led by Geoff Goldstein, Steven Klein and Michael Shmuely.

June 17, 2026

Affordable Housing Development Massachusetts News Northeast

Pennrose Breaks Ground on $51.9M Mixed-Income Boston TOD

by Lynn Peisner June 16, 2026

BOSTON — Pennrose has begun construction of 95 Everett Street, an 88-unit, transit-oriented, mixed-income development in the Allston-Brighton neighborhood of Boston. The approximate project cost, according to the City of Boston, is $51.9 million. The property is across the street from the Boston Landing MBTA commuter rail station. Units offered as studios or with one, two or three bedrooms will come with rent restrictions ranging from 30 up to 120 percent of area median income. Residents will have access to a clubhouse, rooftop terrace and a fitness center. Pennrose Management …

June 16, 2026

Affordable Housing Development Finance Florida Industry Voices Southeast

Opportunity Zones 2.0 Could Be a Better Fit for Housing — If We Use It Well

by Lynn Peisner June 15, 2026

By Alfonso Costa Jr. As the federal Opportunity Zone (OZ) program evolves into a permanent “OZ 2.0” framework, with new OZ census tracts taking effect Jan. 1, 2027, states like Florida are moving quickly to shape where capital flows by launching online portals. For developers, investors, business owners and local officials, understanding how these rules are changing and how to engage in state-level nomination processes will be critical to harnessing tax-advantaged equity while deploying it into projects that deliver long-term community benefit. Opportunity Zones 2.0 Brings More Flexibility and a …

June 15, 2026

Affordable Housing Development Midwest News Ohio

Pennrose Breaks Ground on $64M Adaptive Reuse Project in Cleveland

by Lynn Peisner June 12, 2026

CLEVELAND — Pennrose and nonprofit partner MidTown Cleveland have broken ground on the $64 million redevelopment of the former Warner & Swasey factory in Cleveland. In October 2025, Pennrose acquired the building at 5701 Carnegie Ave. from the City of Cleveland. The development team, working on this project since 2017, drew on 24 capital sources to bring the plans to fruition, including contributions from the City of Cleveland, Cuyahoga County and the Cleveland Foundation, among other public and private partners. Constructed in the early 1900s, the 194,000 square-foot, five story …

June 12, 2026

Affordable Housing Investment Sales Maryland News Northeast

Donaldson Impact Investors Buys Yorkshire Apartments in Maryland for $79.4M, Converts Property to Affordable Housing

by Lynn Peisner June 12, 2026

SILVER SPRING, MD. — Donaldson Impact Investors, in partnership with New York Life Investment Management and nonprofit developer Housing Initiative Partnership, has acquired Yorkshire Apartments in Silver Spring for $79.4 million. The buyers used a tax-abatement program to transition the community to affordable from market-rate. Half the apartments at the 326-unit community are reserved for tenants earning up to 60 percent of area median income with the remainder of units remaining priced at market rates. The transaction was made possible through Montgomery County’s Payment in Lieu of Taxes (PILOT) program, …

June 12, 2026

Affordable Housing Development Finance Midwest Ohio

Lument Secures $28M HUD Loan for Ohio Affordable Housing Redevelopment

by Lynn Peisner June 10, 2026

LORAIN, OHIO — Lument has secured a $28 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan to assist TFG Housing Resources and Raise Up with the rehabilitation of Western Horizon. Upon completion of the redevelopment, all 353 units of the affordable housing community in Lorain will be offered at rents capped at 60 percent of area median income. Lument’s Joey Hague led the transaction. TFG Housing Resources is a Columbus, Ohio-based real estate developer focused on the new construction and rehabilitation of affordable housing properties. …

June 10, 2026

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