Affordable Housing
Dougherty Closes $34M Loan for Affordable MN Development
Named 1500 Nicollet, the planned 183-unit community in Minneapolis will include 5,500 square feet of retail space.
On the Market: 5 Interesting Listings for the Week of 11/13
This week’s listings include two historic buildings: a three-unit San Francisco property built in 1900 and a stately Chicago community constructed in 1920.
Mixed-Income Community Breaks Ground in MA
A joint venture is developing Mass+Main, a $190 million project that will feature 248 market-rate and 60 affordable units. The property is slated for a mid-2020 completion.
Affirmed Housing Opens Affordable San Diego-Area Community
Eastgate serves low-income families and veterans. Built by Wermers Construction, the property includes 42 units and is located in San Marcos, Calif.
Partnership Brokers $11M Sale of 2 Chicago Affordable Properties
Habitat Co. purchased the 167-unit portfolio from Renaissance Cos. Kiser Group Director Michael D’Agostino and AHIB Managing Director Kyle Shoemaker closed the deal.
Public Housing Goes Green
The financial challenges of operating permanently affordable housing seem inevitable, but a growing number of public housing authorities are embracing sustainability projects to offset costs, increase operating efficiency and improve residents’ quality of life, according to panelists at the 2017 Greenbuild conference.
Eastside Station Changes Hands in Off-Market Deal
Atlanta-based Pollack Shores bought a new 330-unit community in East Austin. The partially affordable development is conveniently located within walking distance of the medical district as well as Google and Facebook’s new downtown offices.
WNC Funded Reno of San Diego-Area Affordable Asset
The firm provided $13.2 million in financing for the renovation of Woodglen Vista Apartments, a 188-unit affordable community in Santee, Calif., that Jamboree Housing Corp. developed.
Brooklyn Residential Tower Lands $218M Refi
Located in Brooklyn Cultural District Fort Greene, the Gotham Organization’s 586-unit Ashland offers residents a wide range of amenities, including a 17,000-square-foot Gotham Market.
CapitalSource Provides Construction Loan for CA Asset
The Nexus will offer 70 units and 238 beds, including a few affordable apartments. The community is in close proximity to University of California, Berkeley’s main campus.