Affordable Housing
The Community Preservation Corporation Announces New Board Members
he Community Preservation Corporation (CPC), a non-profit lender for affordable housing throughout New York State, announced today the election of three new affordable housing career leaders to the CPC Board.
Bay Area’s Candlestick Heights to Offer Crucial Affordable Housing
Financing is in place for acquisition and development of Candlestick Heights, a 196-unit affordable rental community just to the west of Candlestick Park in San Francisco.
TODAY’S DEALS: PREI Buys Luxury Chicago Tower
Prudential Real Estate Investors completes a luxury buy in Chicago; Kennedy Wilson lands supplemental financing for one California asset, sells another; and FHL Bank San Francisco awards $18.5 million in affordable housing grants.
MHN Interview: Multifamily and the Legislative Agenda
MHN interviews Will Cooper Sr., founder and chairman of WNC and Associates, about the multifamily issues that are on the current legislative agenda and the low-income housing tax credit program.
TODAY’S DEALS: AFL-CIO Invests $33.5M in Boston Public Housing Redevelopment
HIT provides $33.5 million for a public housing rehab; Mesa West Capital funds a $32.3 million loan in two weeks; and Walker & Dunlop places $19.8M for a pair of LIHTC assets in Virginia.
Boston Capital Invests in Wisconsin Affordable Apartment Rehabs
A pair of Wisconsin affordable apartment communities, Gilbert Court Apartments in Elkhorn and Havenwood Apartments in Lake Geneva, will be rehabilitated, thanks to an investment by Boston Capital.
NorSouth’s $15.3M Seniors Community 100 Percent Occupied
HearthSide Towne Lake, a $15.3 million, 100-unit affordable seniors community in Woodstock, Ga., is 100 percent occupied less than a year after opening. The community was developed by Atlanta-based NorSouth Development and built by NorSouth Constructs.
Michaels Development and the Housing Authority Develop Affordable Housing Community in South Camden
Michaels Development has teamed with the U.S. Department of Housing and Urban Development to open Morgan Village, a new 40-unit rental townhouse community serving low- and moderate-income families in the Morgan Village neighborhood of South Camden.
SPECIAL REPORT: NYHC/NHC Conference Speakers Warn of ‘Mounting Fears’ for Affordable Housing
Speakers at the New York Housing Conference and National Housing Conference’s 39th Annual Awards program warned that the outcome of Capitol Hill fiscal negotiations may not be favorable to the industry’s production, preservation and investment programs.
Tryko Partners Begins Extensive Renovation on Distressed Affordable Community in Maryland
Tryko Partners recently acquired Perrywood Gardens, a 184-unit affordable housing community in Aberdeen, Md. The company is currently implementing a $500,000 renovation program for the property.