Affordable Housing
Affordable Housing Portfolio Secures $142M in Financing
Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.
Affordable Portland Asset Changes Hands
BRIDGE Housing acquired The Ramona, a 138-unit apartment building in the Pearl District of Portland, Ore. The fully affordable asset is LEED certified to the Gold level.
Phase 2 of Brooklyn Affordable Project on Track
A joint venture of The Hudson Cos. and BEC New Communities has closed on the financing and acquisition of BEC Continuum Resyndication, which includes 550 units across 43 properties.
BRIDGE Housing Promotes Susan Johnson to COO
In this newly created role, Johnson will work to connect strategy, operations and procedures across the organization. Johnson has been with the company since 1983.
Arbor Funds $15M in Charlotte Fannie Mae Deal
The company provided financing for the acquisition of Pressley Ridge Apartment Homes, a fully affordable, 504-unit property. Blackfin Real Estate Investors currently owns the asset.
Greystone Provides $79M FHA Loan for Michigan Portfolio
The portfolio includes both market-rate and affordable housing communities that will be renovated using the funds. Most of the properties are owned by the Altman Cos.
Related, Stanford Debut Affordable Community in Bay Area
Related California broke ground on the 70-unit property in Palo Alto, Calif., in 2015. The community resulted from a 2005 agreement between the city of Palo Alto and Stanford University to create housing for Stanford faculty and the surrounding community.
Senior Affordable Community Comes Online in Huntsville
Stratus Development LLC developed the 60-unit property, which is restricted to residents who are 55 or older and earning 60 percent of the area median income or less.
Steele Acquires AL Affordable Apartments for $23M
The company plans to renovate the 200-unit Summit Ridge Apartments in Birmingham, giving the community new roofs, exterior doors, siding repairs and attic insulation for increased energy efficiency.
$43M DC Affordable Community to Open Next Spring
Portner Flats will bring 96 affordable units to the popular U Street Corridor in Northwest, D.C. The project is a public-private partnership between the District, Somerset Development, Jonathan Rose Cos., New Community Partners and other entities.