Affordable Housing
TODAY’S DEALS: Security Properties Acquires 276-Unit Property in Colorado
Security Properties acquires a 276-unit Denver-area multifamily complex; NAI represents buyer and seller in $16M sale; and Marcus & Millichap brokers the sale of a 126-unit assisted-living property.
David Reznick Provides Advice for Affordable Housing Developers
David Reznick, co-founder and chairman of the board of the accounting and tax advisory firm of Reznick Group, describes lessons affordable housing developers can learn as a result of this downturn.
Mixed-Income Apartment Property Pops Up at Long-Vacant Site in New Orleans
New Orleans–A parcel that had sat vacant in New Orleans for the last four decades is now home to the 49-unit Aloysius Apartments, a new $16.8 million mixed-income multifamily community developed by HRI Properties.
Renaissance Square Wins Sustainable Building Award from Maryland USGBC
Renaissance Square, a for-sale affordable housing community under development in Essex, Md., has earned a valuable distinction in Maryland’s sustainable housing development arena.
TODAY’S DEALS: SWA Group to Redesign 1700-Home Sunnydale Public Housing Community
SWA Group begins designs for transformation of 1700-unit Sunnydale public affordable housing; NorthMarq’s $19M refinance allows return of capital; and Akridge gets approval for Virginia mixed-use redevelopment.
Chicago Affordable Apartments Win Neighborhood Development Awards
Chicago–The 17th annual Chicago Neighborhood Development Awards recognized two North Side Chicago multifamily developments, one for affordable housing, the other for for-profit development.
Enterprise Named Freddie Mac Targeted Affordable Housing Lender
Columbia, Md.–Freddie Mac has given Enterprise approval to originate affordable multifamily loans nationally on its behalf.
AMCAL Completes Workforce Housing Development in Fresno
Fresno, Calif.–AMCAL Multi-Housing Inc., in partnership with the Foundation for Affordable Housing, has developed the 50-unit family workforce project Summer Hill Place in an area deeply in need of affordable housing.
TODAY’S DEALS: Phoenix Realty Group and MG Properties Acquire $53M Apartment Complex
Phoenix Realty Group and MG Properties have aquired a 402-unit community in Garden Grove, Calif., and JP Morgan Chase sells a 195-unit Sacramento apartment complex for $12.4 million.
Yonkers IDA Green-Lights Incentives for Modern Affordable Housing
Yonkers, NY–The Yonkers Industrial Development Agency has finalized a set of economic development incentives that will facilitate the construction of a seven-story, 77-unit affordable-housing apartment building in the city.