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 …
State of New York to Provide $406 Million in Financing to Build Five Affordable Housing Developments
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 …
GRAND ISLAND, N.Y. — JLL Capital Markets has brokered the sale of Town Hall Terrace, a 460-unit community in Grand Island, 10 miles northwest of Buffalo, New York. JLL’s Steve Simonelli, Mike Oliver, Jose Cruz, Austin Piece, Elizabeth DeVesty and Andrew Scandalios marketed the property on behalf of a private seller, as well as procured the buyer. Town Hall Terrace was built in stages from 1963 through 2008. The property offers 384 one- and two-bedroom apartments, 46 three-bedroom townhomes and 30 two-bedroom homes for seniors. Community amenities include a clubhouse, …