Affordable Housing
Palo Alto Housing Unveils Revitalized Affordable Asset
Colorado Park Apartments reopened after a $31.9 million renovation. The property is the oldest in the non-profit agency’s portfolio.
Can You Afford to Live in NYC?
Only nine out of the 139 neighborhoods included in a RentHop study have median asking rents that can be afforded with 35 percent of the area median income.
Affordable Senior Community Opens in Richmond, IL
The 25-unit community offers one- and two-bedroom apartments for $866 and $1,039, respectively, and is Energy Star Certified.
Rainbow Tapped for Phoenix Affordable Community
The company will offer the residents of La Palmilla Apartments free on-site programs once the current owner, Reliant Group Management, completes renovations in mid-2018.
Lena New Boston Breaks Ground on 41 Mixed-Income Units
The $200 million redevelopment of the former Boston State Hospital site entered a new phase, which will include 22 affordable units. The project is part of Olmsted Green, a 42-acre development in the heart of the city.
LA Senior Communities Receive $19M Mortgage Financing
The funding, obtained through the company’s bond purchase program, will be used for the acquisition, rehabilitation and permanent financing of three affordable developments.
Cush & Wake Closes Sonoma County Residential Development Sale
Blackpoint Management nabbed a fully entitled site approved for 90 units in Rohnert Park, Calif. Cushman & Wakefield advised Aldridge Development on the $3.6 million sale.
948 Affordable Units Preserved in the Bronx
LIHC Investment Group, Belveron Partners and Camber Property Group will rehabilitate Stevenson Commons in the New York City borough. The initiative is moving forward through an agreement with the New York City Housing Development Corp.
JLL Secures Acquisition Loan 332-Unit Affordable Community
Sunridge 332 Partners LP landed a Freddie Mac loan through the Targeted Affordable Housing program. The west Dallas community is located minutes from President George Bush Turnpike and Interstate 20.
WinnDevelopment Tapped for $1.6B Boston Project
The Mary Ellen McCormack site will be transformed into a 3,000-unit mixed-income community set to be constructed over four phases.