Affordable Housing

The-Ford-Apartments-Denver
Affordable HousingColoradoDevelopmentNewsWestern

Evergreen Real Estate Group Secures Land, Tax Credits for Denver Affordable Development

by Lynn Peisner

DENVER — Evergreen Real Estate Group has closed on land and secured 9 percent Low-Income Housing Tax Credits through the Colorado Housing and Finance Authority for the development of The Ford Apartments, a six-story, 60-unit community in Denver’s Baker neighborhood. Monthly rents will be income-capped at 30 to 80 percent of area median income. Evergreen expects to break ground on the project in early 2026 and to complete it in fall of 2027. Located at 155 W. 5th Ave., the site is situated adjacent to the Denver Health hospital campus. …

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Mill-and-Miss
Affordable HousingDevelopmentMidwestMinnesotaNews

Oppidan Breaks Ground on Workforce Housing in Grand Rapids

by Lynn Peisner

GRAND RAPIDS, MINN. — Oppidan Investment Co., a national property development firm headquartered in Excelsior, Minnesota, has broken ground on Mill + Miss, a new workforce housing project in Grand Rapids, located 178 miles north of Minneapolis. The 121,000-square-foot, 132-unit development is comprised of one-, two- and three-bedroom floor plans. The developer expects to complete the project in March 2027. Oppidan partnered with the City of Grand Rapids, the Grand Rapids Economic Development Authority, Iron Range Resources & Rehabilitation Board and the Minnesota Housing Finance Agency through the state’s Workforce …

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Walden-Pond-Rendering
Affordable HousingDevelopmentFloridaNewsSoutheast

Alexander Goshen, Avanti Residential to Break Ground on Tampa-Area Workforce Development

by Lynn Peisner

NEW PORT RICHEY, FLA. — Alexander Goshen and Avanti Residential will break ground in the first quarter of 2026 on Walden Pond, a workforce housing development in New Port Richey, about 33 miles north of Tampa, Florida. The $30 million project is situated on about 9 acres on the site of a former mobile home park. Walden Pond will consist of three four-story residential buildings containing 125 units in a mix of studios and one-, two- and three-bedroom floor plans. Amenities include a dog park, pickleball court, children’s playground and …

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247-Hancock
Affordable HousingDevelopmentFinanceNewsNortheast

M&T Provides $44.8 Million in Financing for Boston Mixed-Income Project

by Lynn Peisner

BOSTON — M&T Realty Capital Corp. has provided $44.8 million in funding for a 47-unit mixed-income development in the Dorchester neighborhood of Boston. Arx Urban and Boston Communities are the developers. Thirty-five units are designated affordable, which include 15 units supported by project-based vouchers. Rent restrictions were not disclosed. M&T’s financing package includes a $6.3 million Freddie Mac forward commitment, a $19.2 million construction loan and $19.3 million in tax credit equity. The 247 Hancock development will feature a six-story building with a mix of studios and one-, two- and …

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Fiederlein-William
Affordable HousingDevelopmentFinanceIndustry VoicesVirginia

What Developers Need to Know About State Tax Credits

by Lynn Peisner

By William Fiederlein The need for affordable housing has never been greater. The United States is currently experiencing a shortage of millions of affordable housing units for low-income renters. This shortage disrupts family stability and creates a negative economic ripple effect within already vulnerable communities. According to the National Low Income Housing Coalition’s 2025 report, The Gap: A Shortage of Affordable Homes, there is a national shortage of 7.1 million affordable and available rental homes for extremely low-income renters. It nets out to just 35 affordable and available homes for …

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skyway-gardens
Affordable HousingDevelopmentNewsTexas

WNC & Associates, AHP Developers Break Ground on Affordable Housing Development in Alpine, Texas

by Lynn Peisner

ALPINE, TEXAS — WNC & Associates and AHP Developers have broken ground on Skyway Gardens II, a 44-unit affordable housing development in Alpine, a small city in Southwest Texas with a population of about 6,000 residents. The project is being financed through a combination of 9 percent federal Low-Income Housing Tax Credits provided by WNC, a $3 million loan from Cedar Rapids Bank & Trust and a construction loan from Sterling Bank. Completion is slated for December 2026. Located at 1000 East Lechuguilla Lane, Skyway Gardens II comprises 11 one-story, …

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Max-Grossman
Affordable HousingFinanceIllinoisIndustry VoicesInvestment SalesMidwestMinnesota

How Affordable Housing Investors Can Benefit From Property Tax Programs

by Lynn Peisner

By Max Grossman Many cities across the U.S. are grappling with two persistent challenges: a lack of affordable housing and high property taxes. While these issues may seem separate, some policymakers have implemented programs that can address both at the same time. Chicago’s affordable housing supply is short by approximately 120,000 homes and 240,000 rental units, according to the Illinois Policy Institute. Additionally, nearly one-third of Illinois residents commit more than 30 percent of their income toward housing, the most of any state in the Midwest. The city is also …

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326-Rockaway
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Wraps on Brooklyn Affordable Housing Development

by Lynn Peisner

NEW YORK CITY — Slate, RiseBoro and Goldman Sachs have completed 326 Rockaway Avenue, a 216-unit affordable housing development in the Brownsville neighborhood of Brooklyn. One hundred thirty units are supportive housing for tenants who formerly were homeless, and the remaining units are available for households earning no more than 60 percent of area median income. Amenities at the community include an outdoor recreation area with play structures and landscaped areas, a community room, fitness center and children’s playroom.

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Auburn-Place-&-Beacon-Apartments-Renderings-(FSPA)-1
Affordable HousingDevelopmentMichiganMidwestNews

O’Brien, Lighthouse Break Ground on Affordable Projects in Unity Park Neighborhood of Pontiac Michigan

by Lynn Peisner

PONTIAC, MICH. — O’Brien Construction and Lighthouse, an affordable housing developer, have broken ground on Auburn Place and Beacon Place, two affordable housing developments that will consist of 94 units. The project includes both new construction and rehabilitation. Auburn Place is a new 54-unit, five-story development. Beacon Place is adjacent to Auburn Place and is a redevelopment that include 40 apartments and townhomes. Construction timelines and rent restrictions were not disclosed.

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HueHub
Affordable HousingDevelopmentFloridaNewsSoutheast

Miami-Dade County Approves $880 Million Affordable Housing Development

by Lynn Peisner

MIAMI — Miami-Dade County has approved plans for The HueHub, an $880 million, 12-acre development in the West Little River neighborhood that will include 4,032 units of affordable housing. Developers Pablo Castro and Laura Tauber will break ground later this year with completion slated for the second quarter of 2028. The project was approved under the Live Local Act, which is state legislation passed in 2023 to encourage affordable housing projects by granting developers tax incentives and flexibility with permits related to density, height, parking and other building regulations. In …

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