News
City of Cincinnati Approves Plans for Multimillion-Dollar Developments
Cincinnati City Council approved last Wednesday plans for a 30-story apartment tower at the northwest corner of 4th Street and Race Street in the city’s downtown. The project is expected to cost about $80 million.
JV Opens Brand New Elegant and Affordable Housing for Low-Income Seniors
An affordable housing community for low-income seniors at the brand new Canby Woods, 7238 Canby Avenue, Reseda, has broken ground.
MHN Interview: Modernizing HUD Communities
The Aspen Company, based in Teaneck-N.J., invests in HUD properties across the country. MHN talks to John VanMetre, the new director of operations at The Aspen Company, about his new role, and how he plans to modernize the affordable communities his company acquires.
L.A. Hospital Redeveloped into Affordable Seniors Housing
The first phase of Linda Vista Senior Apartments, which is part of the redevelopment of a former hospital in Los Angeles, has opened.
TODAY’S DEALS: Beech Street Refinances NYC Portfolio
Beech Street Capital closes a $49.5 million loan for a NYC portfolio; Cohen Financial secures $34 million for a Colorado development; and Centerline Capital provides an $11.4 million refinance loan for a Maryland property.
U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects
An important financing deal securing the future of two urban senior housing developments in Los Angeles was completed last week when U.S. Bank confirmed that it is providing $55.1 million for the projects. The two affordable housing complexes have groundbreaking ceremonies scheduled this month. U.S. Bank is working with the Retirement Housing Foundation to get the two developments done. The banking giant will present the organization with a $30,000 check, in support of its current senior housing endeavors.
Economy Watch: Retail Sales Spike in May
The Census Bureau reported that retail and food service sales were up 0.6 percent compared with April and 4.3 percent year-over-year.
Ribbon is Cut at Mississippi Affordable Housing Community
McIntosh Homes, an affordable housing community for seniors in the Greene County, Miss., town of Leakesville, was given its grand opening ceremony this week.
Oxford Properties Group Launches LEED Platinum Office High-Rise in Downtown Toronto
Oxford Properties Group has unveiled plans to develop the new 40-story Ernst & Young Tower in the heart of downtown Toronto.
£1.5B Deal Will Transform Old London Docks into Innovation Hub
London Mayor Boris Johnson has announced the newest initiative in the grand redevelopment of the London’s Royal Docks: the £1.5 billion (circa $2 billion) project dubbed Silvertown Quays, which represents the second phase of the redevelopment of the Silvertown area.