Affordable Housing

Park-on-14th-Plano
Affordable HousingDevelopmentNewsTexas

Park on 14th, a $17.2 Million Affordable Housing Development, Opens in Plano

by Lynn Peisner

PLANO, TEXAS — Texas State Affordable Housing Corp. (TSAHC), DMA Cos. and other stakeholders have opened The Park on 14th, an affordable housing community in Plano with 62 apartments reserved for households earning no more than 80 percent of area median income. TSAHC owns the land and partnered with DMA to develop the community. The development costs were approximately $17.2 million, with the bulk of financing provided by a U.S. Department of Housing and Urban Development (HUD) loan and equity from TSAHC. Amenities at the Park on 14th include community …

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Teachers-Square-Baltimore
Affordable HousingDevelopmentMarylandNewsNortheast

Baltimore Unveils $6 Billion Housing Redevelopment Program to Restore Vacant Buildings

by Lynn Peisner

BALTIMORE — Baltimore has launched a 15-year housing redevelopment program aiming to restore vacant buildings throughout the city. The plan is backed by $1.2 billion in public-fund commitments and an anticipated $5 billion in private financing. City leaders say the plan will revitalize more than 65,000 properties across Baltimore. The redeveloped homes will be a mix of rental and for-sale housing. The City of Baltimore has approved the plan and public funding, while the Greater Baltimore Committee (GBC), a nonprofit, private-sector business advocacy group, is helping to coordinate private sector …

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Joy-Silver
Affordable HousingIndustry Voices

Affordable Housing Remains Key to Homelessness Prevention

by Lynn Peisner

As California faces soaring numbers of unhoused residents, building affordable housing must remain atop the state’s homelessness-prevention plan. More than 187,000 Californians experienced homelessness in 2024 — a stunning 24 percent of the entire nation’s homeless population. The state is at risk of adding even more families to this alarming figure. Among those at risk are working families, often holding one or two jobs, who are just one setback — such as a job loss, major illness, natural disaster, domestic violence incident or childcare crisis — away from housing instability. …

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Carrollton-Flats
Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

R.H. Ledbetter Secures Equity for $49 Million Atlanta Metro Workforce Project

by Lynn Peisner

CARROLLTON, GA. — R.H. Ledbetter Properties, a development, investment and property-management firm based in Rome, Georgia, has secured $15 million in equity to put toward its $49 million project in Carrollton. The equity was provided by American South Capital Partners (ASCP), a joint venture between Los Angeles-based impact fund manager SDS Capital Group and Vintage Realty Co., a Shreveport, Louisiana-based property developer and manager. While the property, Carrollton Flats, is not being developed with traditional tax credits, it is billed as offering “attainable” rents.  ASCP’s fund has, to date, committed …

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Danielle-Katz
Affordable HousingDevelopmentFinanceIndustry Voices

Affordable Housing Developers Are Undeterred by New Funding Challenges Ahead in 2026

by Lynn Peisner

The affordable housing industry is entering its cautious momentum era. On one hand, the One Big Beautiful Bill Act (OBBBA) significantly enhanced the Low-Income Housing Tax Credit (LIHTC), making more credits available and making the credits easier to qualify for. On the other hand, the parallel cuts to federal funding, general uncertainty in the market and a decline in investor interest keep the industry outlook guarded. The tax credit is a powerful tool used by developers to aid in the construction and development of affordable housing projects across the country. …

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The-Perennial
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Underway on $150 Million Redevelopment of Former Queens Hospital

by Lynn Peisner

NEW YORK CITY — Foxy Development and Selfhelp Realty Group have closed on financing and begun construction of The Perennial, a 145-unit, multi-generational affordable housing property that also will be the future home of the Forest Hils Jewish Center. The project is a redevelopment of a former Parkway Hospital building that is located at 70-35 113th St. in the Forest Hills section of Queens. The building has been vacant since the hospital closed down in 2008. The building was constructed in the 1960s. Once complete, by approximately the end of …

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Ekos-at-Arbor-Park-II
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on Second Phase of Ekos at Arbor Park

by Lynn Peisner

NORTH PORT, FLA. — McDowell Housing Partners has begun construction of the second phase of Ekos at Arbor Park, an affordable housing community in North Port, about midway between Sarasota and Fort Myers. Phase I was reserved for seniors, while the second phase, which will include 66 units, will be reserved for families earning at or below 70 percent of the area median income. Completion is slated for the fourth quarter of 2026. Phase I was completed in May of this year. Ekos at Arbor Park Phase II will include …

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25-Garvey-Street-
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

Joint Venture Secures Financing for Affordable Development Near Boston

by Lynn Peisner

EVERETT, MASS. — MassDevelopment has issued a $34.3 million tax-exempt bond to Impact Residential Development and The Neighborhood Developers as part of the funding for an affordable housing project in Everett, six miles north of Boston. The development will include 107 units rented to households earning up to 60 percent of area median income (AMI), 17 units rented to households earning up to 30 percent of AMI and one property-manager unit. Construction is underway and is expected to be completed in May 2027. The tax-exempt bond was purchased by First …

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Fountain-Park-San-Jose
Affordable HousingCaliforniaInvestment SalesNewsWestern

Sack Capital Partners, Belveron Partners Acquire Fountain Park in San Jose

by Lynn Peisner

SAN JOSE, CALIF. — Sack Capital Partners and Belveron Partners have acquired the 164-unit Fountain Park in San Jose for $52 million. The property, developed in 1974, is comprised of studios and one- and two-bedroom units, many of which have been recently renovated. The new owners will convert a portion of the remaining units to affordable housing. Income caps were not disclosed. Amenities at the property include a clubhouse, barbecue area, a resort-style pool with a hot tub, a sauna, covered parking with electric vehicle charging stations and dog park. …

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MacDonald-Manor-Chesapeake
Affordable HousingDevelopmentFinanceInvestment SalesNewsSoutheastVirginia

Fairstead Buys, Plans Redevelopment of Hampton Roads-Area Affordable Housing Community

by Lynn Peisner

CHESAPEAKE, VA. — Fairstead has acquired MacDonald Manor, an affordable housing property in Chesapeake, and will redevelop it using $26 million of rental assistance demonstration (RAD) Section 18 funding. RAD Section 18 is a HUD program designed to preserve and improve affordable housing. The entire acquisition and rehab cost is $55 million. Chesapeake Redevelopment and Housing Authority, Virginia Housing and Hudson Housing Capital are project partners. The redevelopment work will begin this fall and is estimated to be complete in fall 2027. Located at 1331 MacDonald Road, MacDonald Manor is …

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