Affordable Housing
Unveiled: Brook Avenue Apartments in the Bronx
Yuco Real Estate Co.’s $25 million, 66-unit development was financed under Mayor De Blasio’s Housing New York plan.
Midtown Detroit Gets New Mixed-Income Community
Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.
Berkadia Secures $23M Loan for Chicago-Area Assets
Ridge Garden Apartments and Indian Trails Apartments, two affordable multifamily properties in the greater Chicago area, will undergo capital improvements.
Affordable FL Community Lands $7M Financing
Walker & Dunlop arranged a 35-year loan for William Booth Towers, a 168-unit, age-restricted property west of Orlando’s central business district.
NYC Public Housing Slated for $560M Makeover
The 24-building public housing community in the New York City borough of Queens will use the funding for upgrades and renovations.
Domus Development Taps New President
Maurice Ramirez brings more than 25 years of industry experience to his new role, having contributed to the development of thousands of affordable housing units in California.
Avanath Doubles Sacramento Footprint
In a $56.5 million deal, the company has acquired an affordable housing portfolio totaling 468 units in one of the nation’s hottest markets. The properties cater to seniors, families and mixed-income renters.
HUD, HCR, MDG Partner for $160M Bronx Preservation
Michelangelo Apartments, a 494-unit affordable building, is a 43-year-old Mitchell-Lama community that will be renovated and preserved as affordable for another 40 years as a result of the deal.
Tackling Affordability with Fannie Mae’s Multifamily Chief
Renters who struggle to meet rising monthly payments with modest incomes are also fighting to live close to work, school or family members. To combat this problem, Fannie Mae’s Executive Vice President and Head of Multifamily Jeff Hayward calls on all stakeholders to rethink the way they create housing for low- and moderate-income residents.
Laurel Street Celebrates Opening of NC Community
The multifamily developer finished work on 757 North, a four-story residential project downtown Winston-Salem. The first residents are expected to move in by July 1.