Affordable Housing
Microsoft Commits $500M to Affordable Housing in Seattle
The software giant proposes a combination of loans and grants to help expand the Puget Sound region’s inventory of affordable housing.
Work Begins on $136M Manhattan Affordable Housing Project
Related Cos. and The Hudson Cos. are bringing the first newly constructed, permanently affordable housing project to Roosevelt Island, N.Y. The 21-story community is set to encompass 340 units.
Related Cos. Receives $50M Refi for Affordable MA Asset
MassHousing provided the funds for the renovation of Chestnut Park Apartments, a 489-unit community in downtown Springfield. Wells Fargo will act as the project’s commercial construction and permanent lender.
$100M Deal to Preserve Affordability in South Bronx
A joint venture led by NCV Capital partners secured debt and equity to fund and rehab a 13-building, 515-unit affordable housing portfolio.
Middleburg Launches $75M Workforce Housing Fund
The company’s strategy is to purchase and rehabilitate distressed communities in the Southeast and Mid-Atlantic regions, starting with the previously acquired Vesta Derby Oaks located in Louisville, Ky.
How the Government Shutdown Impacts Multifamily
With HUD and other agencies currently disabled, residents and private sponsors of government-assisted housing are feeling the fallout from the stalemate over border security.
Phoenix-Area Affordable Property Changes Hands
Atlantic Development & Investment sold the 184-unit asset in a 1031 exchange for nearly $23 million. The Canadian Imperial Bank of Commerce provided acquisition financing.
Dallas Housing Authority Aims to Grow Texas Affordable Housing
The agency has formed public-private partnerships with 12 different firms in order to redevelop seven of its properties.
Affordable Community Trades in KC
CBRE Capital Markets provided more than $11 million in Fannie Mae financing to the buyer, Peak Capital Partners, for the 260-unit multifamily asset.
LA’s Largest Co-Living Project Reaches Completion
California Landmark Group has completed construction of C1, a rental building featuring 51 market-rate apartments and 17 co-living units.