Affordable Housing
JAG, New York Life Investment Management Form $100M Acquisition Venture
Formed by Jefferson Apartment Group and New York Life Insurance Co., the investment venture targets the acquisition of 4,000 apartment units and plans to leverage third-party capital partners as it grows.
JDS Lands $664M Loan to Build Brooklyn’s Tallest Tower
The developer is moving forward with construction of the 575-unit residential skyscraper, which will rise 1,066 feet upon completion, making it the loftiest New York City building outside of Manhattan.
Last Beam Placed on NJ Mixed-Income Project
The state’s housing and mortgage finance agency assisted with the development that will provide 45 market-rate apartments and another 55 affordable units in the township of West Orange.
In Case You Missed It: MHN’s Top 5 Posts in April
Miss any of our articles? Catch up with five of our most popular posts for the month.
ULI Sees “Attainable Housing” Crunch for Middle Class
In a finding with far-reaching implications for the multifamily sector, ULI reports that modestly priced, new for-sale homes have nearly disappeared in most areas of the country, leaving middle-income Americans in the lurch.
NYC Mixed-Use Project Breaks Ground
A trio of developers are behind a 19-story building that will offer more than 400 mixed-income apartments in the East Harlem neighborhood.
Affirmed Housing Breaks Ground on Orange County Affordable Project
Della Rosa in Orange County, Calif., will serve as permanent supportive housing for the chronically homeless and families earning up to 50 percent of the area median income.
NYC Looks to Co-Living for Shared Housing Template
ShareNYC is a pilot program designed to bring a new and much-needed apartment type to the city’s affordable stock.
Exact Capital Rehabs 29 Central Harlem Properties
The firm teamed with Harlem Congregations for Community Improvement Inc. and received private and city funding to help pay for the $26 million in renovations.
Affordable Community Breaks Ground in Albuquerque
Nuevo Atrisco’s multifamily component of 88 units is scheduled for completion in the first half of 2020. The development also features 30,000 square feet of commercial space and a community center.