Affordable Housing
MHN Interview: Michael Preston, Regional Director, National Church Residences
With more than 20 years of experience in social work, Michael Preston is a good judge of what kind of social support program actually makes a difference for disabled homeless and veterans. In his role as regional director of permanent supportive housing for Columbus, Ohio-based National Church Residences—the nation’s largest non-profit specializing in affordable senior housing—he’s involved in a fast-growing collaborative effort to help house those in need.
Second Phase Complete at L+M’s Candlestick Heights Community in SF
L+M Development Partners celebrated the completion of the second phase of construction this month at the company’s first California community, Candlestick Heights, in San Francisco.
Finance Trends: Multifamily Finance Trends and HUD
While much chatter across the industry speculates as to a current or future bubble, economic indicators show that the sector continues to show strength and that a bubble is not imminent. Investors and developers are active, and demand for units remains steady.
Executive Insight: Youthful Insight
Low Income Housing Tax Credit specialists WNC & Associates may have more than 40 years of experience in the affordable housing industry, but the firm isn’t afraid to put youth in the driver’s seat of its rapidly expanding subsidiary, Community Preservation Partners LLC (CPP).
Massive Harlem Mulitfamily Renovation Under Way
Work has started on the first phase of the redevelopment of Randolph Houses, which are in central Harlem in Manhattan.
EAH Housing to Develop Affordable Bay Area Project
The City of Emeryville has tapped nonprofit developer EAH Housing, an affordable housing specialist, to develop a new mixed-use affordable apartment property at 3706 San Pablo Ave. in the city.
Affordable Seniors Apartments Unveiled in Citronelle, Ala.
AHEPA 310 of Citronelle, a new affordable senior housing complex in Citronelle, Ala., has been given its official opening ceremony.
Mercy Loan Fund Provides Cesar Chavez Foundation $9.9 Million Loan
Cesar Chavez Foundation has acquired The Park at Cliff Creek in Dallas, thanks to a $9.9 million loan from Mercy Loan Fund, in partnership with the Low Income Investment Fund.
North Dakota Multifamily Project Wins Award from the State
Wolf Run Village in Watford City has received the Champions of Affordable Housing Award from the North Dakota Housing Finance Agency.
TODAY’S DEALS: Centerline Provides Acquisition, Renovation Financing for Florida Asset
Centerline provides a Related affiliate with acquisition and renovation financing; Greystone closes $40.4 million for a Tennessee community; and Meridian Capital negotiates $39.3 million in financing for mixed-use properties in New York and New Jersey.