Affordable Housing
Former Worcester School to Become Mixed-Income Housing
The vacant Worcester Vocational and Technical School in Worcester, Mass., will be transformed into the 84-unit Voke Lofts, a mixed-income housing development.
TODAY’S DEALS: Centerline Provides a $17.9M Affordable Loan
Centerline provides acquisition financing for an affordable asset; Kennedy Wilson buys a 366-unit property in Utah; and Grandbridge Real Estate Capital closes an $11.3 million first mortgage for a student housing community in Georgia.
Next Phases of Northwest Gardens Break Ground in Ft. Lauderdale
Ground has been broken on Phases II and IV at Northwest Gardens in Ft. Lauderdale, Fla.
NAI Capital Closes $10.5 Million Apartment Community Transaction
Preservation Partners and Clifford Beers Housing have purchased Banning Villa Apartments, a 90-unit affordable housing community for seniors in Wilmington, Calif., for $10.5 million from VPP Banning Villas Apartments VP.
TODAY’S DEALS: Pollack Shores Acquires 252-Unit Asset in Florida
ARA brokers a 252-unit sale in Florida; Centerline provides a $3.6 million refinance for an age- and income-restricted property in Minnesota; and Ideal Realty Group brokers the sale of two apartment towers by Virginia’s transportation department.
NJBA Honors Ed Walters with Affordable Housing Award
Ed Walters, Jr., partner and founder of Walters Group, has been selected to receive an Affordable Housing Award from New Jersey Builders Association (NJBA).
Ground Broken for Long Beach Affordable Housing
Affordable housing specialist Palm Communities and the nonprofit Western Community Housing have broken ground on Ramona Park Senior Apartments in Long Beach.
Urban Land Conservancy Acquires Affordable TOD
The Urban Land Conservancy recently made its largest land purchase and acquisition using Denver’s $15 million Transit-Oriented Development Fund.
TODAY’S DEALS: Venterra Realty Lands Financing for Houston-Area Buy
HFF arranges financing for an acquisition in Texas; Urban Land Conservancy buys land for an affordable TOD in Denver; and NorthMarq Capital arranges a $10.5 million cash-out refinance.
Citi Provides $250M Financing for New York Affordable Housing
The Community Preservation Corp. has secured $250 million in financing from Citi for the construction, rehab and preservation of affordable housing in New York (state and city).