Affordable Housing

Bains Pointe in Portsmouth, Virginia
Affordable HousingDevelopmentNewsSoutheastVirginia

Woda Cooper Cos. Breaks Ground on Affordable Housing Project in Portsmouth, Virginia

by Channing Hamilton

PORTSMOUTH, VA. — Woda Cooper Cos. Inc. has broken ground on Bains Pointe, a 50-unit affordable housing community located at 1100 High St. in Portsmouth, directly across the Elizabeth River from Norfolk, Virginia. Bains Pointe, in partnership with Bay Aging, will offer units to households earning up to 80 percent of the area median income. The unit mix includes 39 two-bedroom and 11 three-bedroom apartments. Several units will include features residents with mobility challenges or sight/hearing disabilities. Monthly rates are expected to range from $400 to $1,315. Tenants will have …

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The Eastwalk in Braintree, Massachusetts
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

WinnDevelopment Breaks Ground on $47 Million Mixed-Income Project in Braintree, Massachusetts

by Channing Hamilton

BRAINTREE, MASS. — WinnDevelopment and development partner Arch Communities have broken ground on The Eastwalk, a $47-million mixed-income project in Braintree, roughly 12 miles south of Boston. The five-story community will be built on the former location of the Braintree Electric Light Department. The project also includes the creation of a pedestrian riverwalk along the Monatiquot River, which will provide public access to the river. The Eastwalk will feature a mix of one-, two- and three-bedroom apartments. Of the total 56 units, 30 will be set aside for households earning …

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Affordable HousingDevelopmentNewsTexas

Dominium Acquires Land for LIHTC Development Near Austin

by Lynn Peisner

MAXWELL, TEXAS — Dominium has acquired a site in Maxwell, 30 miles south of Austin, for construction of Anson Crossing, a 312-unit affordable housing development. Anson Crossing’s homes will be available to renters earning no more than 60 percent of the area median income. Dominium’s partners on the low-income housing tax credit project include Caldwell County, Winthrop & Weinstine, BKV Group, Kimley-Horn and Associates Inc., Braun Intertec Corp., Commercial Partners Title, On Track Ministries and UMB Bank. A construction timeline and financing specifics were not disclosed.

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The Entrada at San Marcos in San Marcos, Texas
Affordable HousingDevelopmentNewsTexas

Helu Development Breaks Ground on Affordable Housing Asset in San Marcos, Texas

by Channing Hamilton

SAN MARCOS, TEXAS — Utah-based Helu Development has broken ground on The Entrada at San Marcos, a 336-unit affordable housing project located roughly midway between San Antonio and Austin. Helu is developing the community in partnership with American South Capital Partners. Regions Bank originated a HUD 221(d)(4) loan of an undisclosed amount to finance the project’s construction.  The Entrada at San Marcos will consist of six three-story buildings on a 14-acre site. Units will come in studio, one- and two-bedroom floor plans. Amenities will include a clubhouse with a fitness …

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Los Arcos
Affordable HousingDevelopmentNewsTexas

NRP Group Opens Affordable Housing at VIDA in San Antonio

by Lynn Peisner

SAN ANTONIO — The NRP Group and the City of San Antonio opened Los Arcos at Vida on Jan. 29. The 324-unit property is reserved for residents earning between 30 and 70 percent of the area median income. The new development is part of the 600-acre VIDA San Antonio master-planned development led by SouthStar Communities that will be complete in 2026. VIDA will include healthcare, retail and event spaces as well as a mix of housing options, including single-family homes, townhomes and multifamily residences.

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Three Bridges affordable housing development
Affordable HousingBerkadiaDevelopmentNew JerseyNewsNortheast

Berkadia Arranges $11.9 Million in LIHTC Equity for New Jersey Development

by Lynn Peisner

READINGTON, N.J. — Berkadia has arranged $11.9 million in low-income housing tax credit equity for Apartments at Three Bridges, an affordable housing development in Readington. Conifer Realty is the developer. Senior Vice President and Head of Acquisitions Chris McGraw of Berkadia Tax Credit Solutions led the financing effort. Apartments at Three Bridges will consist of 80 townhome units across seven buildings. The homes are reserved for tenants earning between 20 and 60 percent of the area median income. Additional financing for the project will include a construction loan through Fulton …

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4753 Duncanville Road in Dallas
Affordable HousingFinanceInvestment SalesNewsTexas

BOLOUR Provides Acquisition Loan for Affordable Housing Asset in Dallas

by Channing Hamilton

DALLAS — BAI Fund Manager (BOLOUR), an affiliate of Beverly Hills, California-based investment, development and finance company Bolour Associates Inc., has provided financing for the acquisition of a 112-unit affordable housing community in Dallas. John Choi of Concord Summit Capital represented the borrower. Built in 1989, the property is located at 4753 Duncanville Road, roughly 15 miles southwest of downtown Dallas. Units come in one-, two- and three-bedroom floor plans and range from 663 to 1,059 square feet. Income restrictions for the community were not disclosed.

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Silver King Leadville in Leadville, Colorado
Affordable HousingColoradoFinanceNewsWestern

Cloudland Capital, Blue Hour Housing Secure Financing for Workforce Housing Asset in Leadville, Colorado

by Channing Hamilton

LEADVILLE, COLO. — Cloudland Capital and Blue Hour Housing have received $5 million in financing for Silver King Leadville, a 56-unit workforce housing community in Leadville, about 100 miles west of Denver. William Haass of JLL Capital Markets arranged the five-year, fixed-rate loan through a Colorado-based credit union. Located at 2020 North Poplar St., Silver King Leadville offers 47 studios, eight one-bedroom units and one two-bedroom apartment. The average unit size is 375 square feet. Income restrictions for the community were not disclosed. Originally a 66-key hotel, the property was converted …

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Boulder Creek in Greenville, South Carolina
Affordable HousingFinanceInvestment SalesNewsNorth CarolinaSouth CarolinaSoutheast

Infinity Acquires Portfolio of 1,068 Affordable Housing Units in the Carolinas

by Channing Hamilton

CAROLINAS — Infinity Real Estate Partners has received $18.8 million in financing from American South Capital Partners, a joint venture between SDS Capital Group and Vintage Realty Co., for the acquisition and renovation of a portfolio of 1,068 affordable housing units located in North Carolina and South Carolina. The portfolio consists of seven communities, which were built between 1968 and 1973 and range from 81 to 200 units. Ninety-five percent of the units are governed by HUD’s Housing Assistance Program. The properties included in the portfolio are: Infinity will use …

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Ancelmo Perez, Nadel Architecture + Planning
Affordable HousingArchitecture & DesignDevelopmentIndustry Voices

ROI in Affordable Housing Starts with Design and Planning

by Lynn Peisner

Increasing the supply of affordable housing is critical to addressing the severe housing crisis the United States faces. However, many investors think the returns on affordable housing are not sufficient to merit the time and expense of development. New multifamily residential projects of all types are more expensive than ever, thanks to recent inflation and high interest rates, and in the affordable segment, balancing cost with quality livable design has never been more complex. With rent and income restrictions, affordable projects require a mindset beyond counting pennies to make the …

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