Affordable Housing

Woda Cooper Cos. Secures $67 Million for Five Affordable Housing Communities Across U.S.

by Channing Hamilton August 21, 2023

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …

August 21, 2023

Affordable Housing Company News Development Florida News Southeast

Atlantic Pacific Companies, CTIS Partners to Develop 616-Unit Atlantic Station in Miami

by Channing Hamilton August 15, 2023

MIAMI — Atlantic Pacific Companies and GTIS Partners have formed a joint venture to invest in the ongoing development of Atlantic Station, a high-rise project in Miami. Atlantic station will rise 36 stories on a 2.1-acre site. The building will offer 616 apartments, 25,000 square feet of retail space and a 624-space parking garage. Of the total unit count, 360 will be affordable, although exact income restrictions were not disclosed. Amenities will include a recreation deck with two pools, a gym, picnic areas, a dog park and co-working spaces. Vertical …

August 15, 2023

Affordable Housing Development New Jersey News Northeast

Walters Breaks Ground on Cornerstone at Chatham in Chatham, New Jersey

by Channing Hamilton August 11, 2023

CHATHAM, N.J. — Walters has broken ground on Cornerstone at Chatham, a 63-unit affordable community in Chatham. The project is being developed through a partnership between Walters and Chatham Township. Walters was awarded a 9 percent Low Income Housing Tax Credit. Cornerstone at Chatham will comprise three buildings and offer one-, two- and three-bedroom units. Units will be available to tenants earning at or below 60 percent of the area median income. Rental rates will be based on the renter’s gross annual income, according to the rent/income requirements chart. The …

August 11, 2023

Affordable Housing Development Leasing & Marketing New York News Northeast

Terwilliger & Bartone Properties Begins Leasing The Cornerstone Westbury in Westbury, New York

by Channing Hamilton August 10, 2023

WESTBURY, N.Y. — Terwilliger & Bartone Properties has begun leasing The Cornerstone Westbury, a community located 1,000 feet from the Westbury Train Station in Westbury. The first phase of the development delivers 72 units, and the second phase will add 58 more. The second phase is slated to complete in early 2024. Amenities include a rooftop patio, fire pits, a clubhouse, fitness center, on-site parking and events for residents. Of the total 130 units, 18 will be set aside as workforce housing. The Cornerstone Westbury received over 1,200 applications for these …

August 10, 2023

Affordable Housing Development News Oregon Western

Mill Creek Residential Begins Developing Modera Woodstock in Portland, Oregon

by Channing Hamilton August 9, 2023

PORTLAND, ORE. — Mill Creek Residential has begun the construction of Modera Woodstock, a mixed-use property in Portland. Located at 4804 SE Woodstock Blvd., the community will feature 194 apartments and 6,500 square feet of ground-floor retail space. Units will come in studio, one-, two- and four-bedroom floor plans. Five units will be affordable, but income restrictions for these units were not disclosed. Amenities include a clubhouse, courtyard, rooftop deck with grilling area and fire pit, game room, theater, coffee bar, pet spa and a fitness studio. Tenants will also have …

August 9, 2023

Affordable Housing Investment Sales News Southeast Virginia

Greysteel Arranges Sale of Affordable Housing Property in Richmond, Virginia

by Channing Hamilton August 9, 2023

RICHMOND, VA. — Greysteel has brokered the sale of Fieldcrest, a 29-unit affordable community in Richmond. Fletcher Hultman and Henry Mathies of Greysteel’s National Affordable Housing team represented the seller, a joint venture between a local development group and April Housing, an affiliate of Blackstone. The buyer is Wincor Holdings, a recently formed private equity company. Fieldcrest was built in 2006 on a site adjacent to the Richmond Raceway. The property is subject to a Land Use Restrictive Agreement that restricts income and rent levels to 50 percent of the area …

August 9, 2023

Affordable Housing Development Finance New York News Northeast

Wells Fargo Provides $780.3 Million in Financing for Affordable Housing in Metro New York City

by Channing Hamilton August 9, 2023

NEW YORK CITY AND YONKERS, N.Y. — Wells Fargo (NYSE: WFC) has provided $780.3 million in construction financing for the development of five affordable housing projects in the New York City metro area. Wells Fargo provided the funds through its Community Lending and Investment (CLI) group. The CLI funding team that closed the five loans included Duane Mutti, Korbin Heiss, Katelyn Meehan, Greg Richards, Jason Fernbach, Nancy Dipasquale, Marc Levine, Jessica Liang, Mark Mendenhall, Madalena Tran and Cassandra Clay. The developments, which total more than 1,100 units, are currently under construction, …

August 9, 2023

Affordable Housing Development Investment Sales Montana News Seniors Housing Western

Community Preservation Partners Acquires Two Affordable Communities in Great Falls, Montana, for $10.6 Million

by Channing Hamilton August 8, 2023

GREAT FALLS, MT. — Community Preservation Partners (CPP), an affordable housing rehabilitation company, has acquired two developments in Great Falls: Sunshine Village and Broadview Manor East & West. CPP, in partnership with The Hampstead Cos., acquired the communities for $10.6 million. The development team plans to conduct $12.8 million in renovations for the two projects. The properties will remain affordable to households earning 50 percent and 60 percent of the area median income until 2074. Sunshine Village is a 72-unit senior’s community. The three-story building was built in 1979. Sunshine …

August 8, 2023

Affordable Housing Company News Illinois Midwest News People News

Evergreen Real Estate Group Adds Jewell Walton as Vice President of Public Partnerships

by Channing Hamilton August 7, 2023

CHICAGO — Evergreen Real Estate Group has added Jewell Walton to the newly created position of vice president of public partnerships. In this role, Walton will focus on diversifying the firm’s affordable housing portfolio by partnering with public housing agencies to convert assistance for existing public housing communities to long-term, project-based Section 8 contracts under the Rental Assistance Demonstration (RAD) program. Prior to joining Evergreen Real Estate Group, Walton served as deputy chief of RAD programming with the Chicago Housing Authority and as a project manager for S.B. Friedman & …

August 7, 2023

New Amsterdam Apartments in Amsterdam, New York

Affordable Housing Development Finance Leasing & Marketing New York News Northeast Seniors Housing

State of New York to Provide $406 Million in Financing to Build Five Affordable Housing Developments

by Channing Hamilton August 4, 2023

ALBANY, N.Y. — New York Gov. Kathy Hochul has announced that the State of New York will provide $406 million in financing to deliver approximately 800 new affordable housing units across the state. The financing will be awarded through bonds and subsidies. The New York Division of Homes and Community Renewal (HCR) provided financing for the five developments, which comprised $286 million in tax-exempt housing bonds and $120 million in subsidies. The awarded projects are as follows: Income restrictions for these five developments were not disclosed. Hochul’s announcement came during …

August 4, 2023

Newer Posts

Older Posts