Affordable Housing
Affordable Buffalo Community Scores Construction Financing
Elim Townhomes received $12.1 million in construction financing from KeyBank. The community will reserve five units for individuals with physical, hearing and vision impairments.
Historic Chicago Building Receives $53M Loan
The NHP Foundation has commenced renovation on the Mark Twain Hotel. By the end of 2019, the property will encompass 148 affordable units.
Bridge Housing Tops Out $84M Affordable Project in OR
A housing development named for Vera Katz, an inspiring local leader, is nearing completion in Portland. It will offer much-needed rental housing to low-income families and homeless military veterans.
California Expands Affordable Housing Finance Incentives
The new program aims to incentivize affordable housing development for residents with a mix of incomes.
CAPREIT Sells Affordable Active-Adult Asset in Metro DC
The buyer selected ROSS Cos. to oversee property management operations and a capital improvement project at the active adult community.
MassHousing Provides $14M Renovation Loan for Boston Community
Boston Housing Authority selected Beacon Communities to oversee the rehabilitation and preservation of Camden Apartments, a 72-unit affordable property.
InvestRes Buys 148-Unit Sarasota Community
The new owner revealed plans for a capital improvement program, which will include new signage, refurbished amenities and enhanced apartment interiors.
Fannie Mae Boosts Small Loan Limit for Multifamily Market
By upping small loan limits nationwide, the GSE aims to expand market liquidity and the nation’s affordable housing supply.
NorCal Apartments Change Hands
Burbank Housing Development purchased the 56-unit Class C community for $15 million. Two lenders facilitated the transaction with acquisition and development financing.
Fully Affordable Community Changes Hands in Brooklyn
The 107-unit asset is located at 1701 W. 3rd Street, in the borough’s Gravesend submarket. Morris Weintraub Associates sold the property to Parkoff Organization for $28 million.