Affordable Housing
Fannie Mae Expands Green Lending, Housing Innovation Platforms
Jeffery Hayward, executive vice president & head of Fannie Mae’s multifamily mortgage business, sat down with MHN at MBA’s CREF/Multifamily Housing Convention & Expo in San Diego to provide an industry-wide outlook and discuss the GSE’s new initiatives for 2018.
Fairfield Obtains $66M for WA Luxury Development
The downtown Redmond community will comprise 360 high-end units, 36 of which will be income-restricted. Amenities include a fitness area, a Wi-Fi lounge with co-working space and a bicycle storage area.
Hunt Mortgage Arranges $5M for Philadelphia Asset
The firm arranged for a seven-year fixed rate loan on behalf of MM Equity Partners Philly for the acquisition of the 30-unit Reach Lofts.
Elmington Lands $24M Construction Loan
The two-year HUD loan will finance the development of Twelfth & Wedgewood, a 153-unit affordable housing project in Nashville.
WNC Earmarks $94M for CA Affordable Portfolio
A recently closed LIHTC fund is providing capital to acquire and renovate 972 units in Los Angeles, Sacramento and other California cities.
Impact Seven, Rule Enterprises Start Milwaukee Affordable Community
The new $12.2 million development will consist of 60 units open to military veterans and working families. On-site support services will also be provided.
2 Upstate NY Affordable Housing Properties Secure $21M
Riverside Charitable Corp. will acquire and rehabilitate Raymond Watkins Apartments in Sarasota Springs and John Guy Prindle Apartments in Ilion.
Dougherty Delivers Dallas Loan
Short-term bridge financing aided the purchase of Rosemont at Timber Creek, a 2002-built, 100-unit community that will be rebranded Beckley Townhomes.
Nashville Asset Lands $31M HUD Loan
LSA Capital will begin extensive renovations to Haynes Garden Apartments, a 208-unit affordable housing property with 17 buildings.
Affordable Housing Coming to Portland
The 88,000-square-foot project will include 203 units and nearly 30,000 square feet of ground-floor retail space. The Oregon community is slated to open in 2019.