Affordable Housing
Knoxville Multifamily Development Wins HUD Accolade
Knoxville–The under-construction Residences at Eastport in Knoxville has been chosen by HUD as a Region IV Signature Project under the federal Sustainable Communities Initiative.
Affordable Seniors Housing Meets Green Certification in the Bronx
Bronx, N.Y.–Serviam Gardens II, a 158-unit affordable seniors housing community, is the first in the Bronx to reach completion with Enterprise Green Communities Certification.
Atlanta Affordable Housing Property Finishes Redevelopment
Atlanta–Hercules Real Estate has completed the renovation of the former Amal Heights community just south of downtown Atlanta–rechristened the Villas at Lakewood.
Federated Cos. Acquires Another New England Multifamily Project
Wakefield, Mass.–Federated Cos. has bought Legacy Park Wakefield, a multifamily project that will consist of two four-story garden buildings and a single three-story townhouse.
First Phase Underway for Denver’s Dahlia Square Affordable Seniors Apartments
Denver–McDermott Properties already has a waiting list for its Dahlia Square Senior Apartments, and they’re only in Phase One of construction.
TODAY’S DEALS: Cohen Financial Obtains Lower Interest for $8.7M Loan
Cohen Financial arranges an $8.7M loan for the acquisition of Marcus Pointe apartments, and CT Realty and WLCM’s joint venture acquires a cluster of value-added opportunities for $10M.
Ground Broken for Yonkers Workforce Housing
Yonkers, N.Y.–The Yonkers Industrial Development Agency, L+M Development Partners Inc. and the Greyston Foundation have broken ground on 49 North Broadway, an affordable multifamily housing development.
Affordable Housing Project in Suburban Seattle Obtains Financing
Kirkland, Wash.–Saint Andrew’s Housing Group has won financing for construction of Francis Village Apartments through $10 million in Low Income Housing Tax Credits.
HUD Experiences Cuts in FY11 Budget, Faces Uncertain FY12
Washington, D.C.–Now that the long-delayed fiscal 2011 federal budget has been settled by Congress, the impact on HUD can be quantified.
Historic Landmark Begins Transformation into Artist Lofts in New Orleans
New Orleans–It has been nearly six years since New Orleans was hit by a devastating hurricane, but the post-Katrina revitalization of the City continues and a former condiment factory is going to play its part.