Affordable Housing

Gov-Ferguson-Bill-Signing
Affordable HousingNewsWashingtonWestern

Washington State’s Newly Enacted Rent Control Law is Shortsighted, Say Developers

by Lynn Peisner

SEATTLE — Washington Gov. Bob Ferguson has signed House Bill 1217, which limits yearly rent increases for existing tenants in Washington state to 7 percent plus inflation or 10 percent, whichever is lower. Landlords can still adjust rent by higher amounts for new tenants. The bill also limits rent increases for manufactured homes to 5 percent per year. HB 1217, as well as several other bills, were signed on May 7 at the Blake House affordable housing high rise in downtown Seattle. The bill automatically became law upon signing. Other …

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Columbus-Renaissance-Housing
Affordable HousingDevelopmentMidwestOhio

Woda Cooper Cos. Opens Affordable Housing in Columbus, Ohio

by Lynn Peisner

COLUMBUS, OHIO — Woda Cooper Cos. and co-developer Community Development for All People have opened Columbus Renaissance Housing, a 46-unit affordable housing property in Columbus. Units are reserved for tenants earning up to 60 percent of area median income, which amounts to an annual salary of $61,980 for a family of four. The development of Columbus Renaissance Housing was funded by a combination of public and private investment from entities including the City of Columbus, Franklin County, the Ohio Housing Finance Agency, the Affordable Housing Trust for Columbus & Franklin …

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The investment sales panel at Interface Affordable Housing Southeast
Affordable HousingConference CoverageFeaturesGeorgiaInvestment SalesSoutheast

InterFace Panel: Affordable Housing Investment Sales Face Uncertain Future

by Channing Hamilton

ATLANTA — Affordable housing is facing a tumultuous second half of the year. Tariffs on building materials such as lumber, steel and aluminum are slowing development activity as they elevate construction costs. Investment sales are also likely to be impacted by unstable economic conditions in the affordable housing sector, where many transactions are conducted within a limited budget due to the nature of income restrictions for renters. Amid high costs and trade uncertainty, many investors are making the decision to stay on the sidelines or invest in markets with more …

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Chosewood Park
Affordable HousingDevelopmentFrom the MagazinesGeorgiaMarket ReportsSoutheast

Atlanta Beltline Project Is Transforming Intown Neighborhoods

by Channing Hamilton

The need for affordable housing is palpable across the nation, and Atlanta is no exception to the rule. A 2023 report from the Georgia Department of Community Affairs found that there is an extremely inadequate supply of housing that is affordable and available for all income levels, but especially for the lowest income renter households. In 2021, Atlanta Mayor Andre Dickens established a goal to build or preserve 20,000 units of affordable housing across the city by the end of 2030. And a major contributor to these efforts is the …

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Lexington Gardens
Affordable HousingCaliforniaDevelopmentNewsWestern

EAH Housing Breaks Ground on Affordable Housing Project in West Hollywood, California

by Channing Hamilton

WEST HOLLYWOOD, CALIF. — EAH Housing has begun construction on Lexington Gardens, an affordable housing property in West Hollywood, about eight miles west of Los Angeles. Lexington Gardens offers 47 studio apartments. Studios range from 383 square feet to 447 square feet. The property also includes one two-bedroom, 869-square-foot manager’s unit. The five-story community will be available to families and individuals earning 30 percent and 60 percent of local area median income. Designed by DE Architects and built by Walton Construction, Lexington Gardens will offer amenities such as onsite vehicle and …

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Witmer Manor
Affordable HousingCaliforniaInvestment SalesNewsWestern

CPP Acquires Witmer Manor Affordable Housing Complex in Los Angeles for $48.4 Million

by Channing Hamilton

LOS ANGELES — Community Preservation Partners (CPP) has purchased Witmer Manor, an affordable housing property in Los Angeles. Located at 1501 Miramar St. in Los Angeles’ Westlake neighborhood, Witmer Manor comprises eight three- and four-story, elevator-served buildings containing 142 studio and 96 one-bedroom units. Common area amenities include a laundry room and an onsite property management office. CPP is partnering with LifeSTEPS to provide onsite adult education, health-and-wellness and skill-building classes and services to residents. Originally built in 1930, the property was most recently renovated in 2005. CPP’s total development investment …

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RoseMary's Place
Affordable HousingDevelopmentNewsTexas

NHP Foundation Opens $45 Million Supportive Housing Complex in Midtown Houston

by Channing Hamilton

HOUSTON — The NHP Foundation has opened RoseMary’s Place, a $45 million supportive housing complex in Midtown Houston. The four-story, 149-unit building is dedicated to supporting individuals or families who are currently or were recently experiencing homelessness. The NHP Foundation has partnered with nonprofit social services provider Magnificat Houses Inc. to operate RoseMary’s Place, which also offers three multipurpose rooms, two gathering areas, a warming kitchen and a 24-hour staffed entry desk. The City of Houston Housing & Community Development Department provided $18.7 million in financing for the project, while …

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Southpointe Vista
Affordable HousingDevelopmentFeaturesFrom the Magazines

Affordable Housing Developers Await New Playbook

by Channing Hamilton

Developers of affordable housing in the United States are flummoxed by the Trump administration’s bull-in-a-china-shop approach to breaking bloated bureaucracies.  Like their brethren in the market-rate multifamily sector, affordable housing developers are anticipating potentially higher material costs because of tariffs and generally elevated interest rates. But more specific to the affordable sector, developers remain in the dark as to how the administration’s view on housing policies and programs will impact their ability to build low-income units in the coming months and years.  Within two months after assuming office, the Trump …

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Affordable HousingDevelopmentMassachusettsNewsNortheast

TCB Breaks Ground on 43-Unit Affordable Housing Project in Truro, Massachusetts

by Channing Hamilton

TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located roughly 100 miles southeast of Boston near the northern tip of Cape Cod. Thirty-nine units will be restricted to households earning between 30 and 100 percent of the area median income. The other four apartments will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the …

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Affordable HousingDevelopmentNewsTexas

Partnership Delivers 100-Unit Supportive Housing Project in Austin

by Channing Hamilton

AUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Affordable Housing Corp. has completed Cady Lofts, a 100-unit supportive housing project in Austin’s Hancock neighborhood. Cady Lofts offers studio apartments for renters that are earning between 40 to 60 percent of the area median income, or who are overcoming homelessness, dealing with physical and developmental disabilities or recovering from addiction. Each studio will be fully-furnished and feature appliances and eco-friendly utility systems. Residents have access to a communal computer lab, health and wellness center, case management offices and …

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