Affordable Housing - Midwest

  • JV Lands $40M Twin Cities Affordable Community

    Aeon and The Community Development Trust purchased Seasons Park Apartments, a 422-unit community in Richfield, Minn. The transaction marks Aeon’s largest acquisition and the second-largest investment for CDT.

    25 September 2017 16:58
  • Chicago’s Woodlawn: A Success Story in the Making

    In the last few years, the long-struggling neighborhood has seen robust construction activity in the housing and retail sectors. Nonprofit developer POAH together with the city of Chicago have initiated a series of affordable housing projects meant to transform the community and trigger other residential, educational and cultural developments.

    13 September 2017 10:55
  • Construction Begins on Cleveland Affordable Housing

    Detroit Shoreway Community Development Organization is starting work on Aspen Place, a development in the Cleveland EcoVillage. The company plans to achieve a near-50 percent reduction in energy demand compared to minimum requirements.

    30 August 2017 08:26
  • Habitat Lands, Assumes Management of Chicago Asset

    The multifamily developer and property manager purchased and assumed property management of Eastwood Garden, an affordable community in the Englewood neighborhood. The company will manage two other properties in the Chicago area.

    21 August 2017 17:40
  • Affordable Senior Community Opens in Richmond, IL

    The 25-unit community offers one- and two-bedroom apartments for $866 and $1,039, respectively, and is Energy Star Certified.

    18 August 2017 19:11
  • $14M Affordable Housing Opens in Chicago

    A joint venture has opened Harvest Homes, the first new housing of this type to be built in the East Garfield Park neighborhood in more than 30 years.

    08 August 2017 16:16
  • St. Paul Eyes 135-Acre Urban Village

    A rezoning plan calls for as many as 4,000 residential units on a site owned by Ford, which is expected to be put on the market by early 2018.

    01 August 2017 14:32
  • West Side Chicago Welcomes New Affordable Housing

    Harvest Homes will offer 36 two-, three- and four-bedroom units located at one contiguous site in East Garfield, Chicago. The total development cost was $12 million.

    26 July 2017 20:13
  • Greystone Enters Michigan Market with New JV

    The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.

    21 July 2017 18:54
  • Affordable Housing Portfolio Secures $142M in Financing

    Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.

    18 July 2017 14:23
  • Greystone Provides $79M FHA Loan for Michigan Portfolio

    The portfolio includes both market-rate and affordable housing communities that will be renovated using the funds. Most of the properties are owned by the Altman Cos.

    05 July 2017 18:27
  • Senior Affordable Community Comes Online in Huntsville

    Stratus Development LLC developed the 60-unit property, which is restricted to residents who are 55 or older and earning 60 percent of the area median income or less.

    05 July 2017 16:37
  • Midtown Detroit Gets New Mixed-Income Community

    Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.

    26 June 2017 16:59
  • Berkadia Secures $23M Loan for Chicago-Area Assets

    Ridge Garden Apartments and Indian Trails Apartments, two affordable multifamily properties in the greater Chicago area, will undergo capital improvements.

    23 June 2017 16:41
  • South Side Chicago Affordable Housing Completed

    Brinshore Development's Park Place includes 78 units within West Elsdon's Back of the Yards neighborhood. McShane Construction worked as the contractor and provided all site work.

    09 June 2017 08:44