TAMPA, FLA. — Related Urban, the affordable housing division of Related Group, has broken ground on Residences at East End, a 174-unit affordable housing community located at 5709 N. 47th St. in Tampa. Public partners City of Tampa and Tampa Housing Authority (THA) joined Related Urban at the groundbreaking ceremony held Wednesday, Oct. 22. Situated on Tampa’s east side, Residences at East End will be funded through Section 8 project-based vouchers and low-income housing tax credits (LIHTC), with funding sources including Fifth Third Bank and Raymond James. The project represents a total capital investment of $68.6 million. The community will offer two-bedroom apartments reserved for households earning 22 percent to 80 percent of the area median income (AMI). Amenities will include a standalone clubhouse, dog park, picnic areas, a pocket park and a fitness center. Construction is expected to be completed by the end of 2026.
WORCESTER, MASS. — A partnership between affordable housing owner-operator Jonathan Rose Cos. and local developer Schochet Cos. has acquired Plumley Village, a 430-unit community in Worcester. Plumley Village was originally developed in 1970 and rehabilitated in 2005. About 80 percent (342) of the residences are rent-subsidized as project-based Section 8 housing, and the remainder are rent-restricted under a Low-Income Housing Tax Credit land use regulatory agreement with MassDevelopment. Amenities include a community room, business center, convenience store, food pantry, laundry facilities, basketball court, playgrounds and a community garden. The Boys & Girls Club occupies the property’s ground-floor retail space. The seller was The Community Builders.
HILO, HAWAII — EAH Housing has opened Hale Nā Koa ‘O Hanakahi, an affordable seniors housing development in Hilo. Residences are reserved for seniors age 62 and older earning at or below 80 percent of the area median income, with preference given to veterans and surviving spouses. This marks the first affordable senior living development for veterans in Hawaii. EAH Housing developed the $58 million project in partnership with Hawaii Island Veterans Memorial Inc. The property totals 91 one-bedroom apartments across three two-story buildings, with an additional unit for an on-site property manager. Each unit comprises roughly 546 square feet. Amenities at the property include a community center with a lounge, coffee bar and fitness room. The center also features a multi-purpose room and a non-commercial kitchen for resident use. “This community is the first phase of a larger master-planned campus,” says Denise Nakanishi, chairperson of the board for Hawaii Island Veterans Memorial Inc. “Future plans include a veterans’ center and an outpatient clinic to expand healthcare access and support services for veterans and their families.” Design Partners Inc. was the architect for development, and Maryl Construction Group served as the general contractor. EAH Housing Real Estate Management will oversee operations and maintenance …
MINNEAPOLIS — Lupe Development and Wall Cos. have broken ground on a new affordable housing community in the Hiawatha neighborhood of Minneapolis. The four-story, 95-unit building will rise on the site of a former City of Minneapolis Public Works maintenance and storage facility. Named Snelling Yards, the development will feature generously sized units for families earning 30 to 80 percent of the area median income, with 13 units reserved for veterans experiencing homelessness. The building will share amenities with The Hillock, the neighboring, 100-unit active adult community managed by Ecumen. Completion of Snelling Yards is slated for fall 2026. The project received funding from the city, Hennepin County and Minneapolis Public Housing Authority. Allianz Investment Management provided tax-exempt bond financing and a construction bridge loan. R4 Capital is the low-income housing tax credit investor.
HYATTSVILLE, MD. — Walker & Dunlop has secured $40.5 million in debt and equity for the construction of The Highlands, an affordable seniors housing development in Hyattsville, about seven miles east of downtown Washington, D.C. The borrower is a partnership between Community Housing Initiative Inc. and First Baptist Church of Highland Park. P.J. McDevitt of Walker & Dunlop originated the debt, which comprised an unfunded forward Freddie Mac TEL that Walker & Dunlop will service. The permanent loan is structured as a 30-month forward commitment with a 15-year term and 40-year amortization schedule. Macy Kisilinsky of Walker & Dunlop arranged the debt placement and equity syndication, a $12.3 million 4 percent LIHTC equity investment with United Bank. Prince George’s County Housing Investment Trust Fund and the Maryland Department of Housing and Community Development will provide additional subordinate financing. Situated on the First Baptist Church of Highland Park campus, The Highlands will feature one- and two-bedroom apartments that will be restricted to tenants age 62 and older. Five units will be reserved for households at 50 percent of the area median income (AMI) while the remaining 132 units will be restricted at 60 percent of AMI. Planned amenities include a dog …
NEW YORK CITY — A partnership between two nonprofit organizations, The Community Builders and Ascendant Neighborhood Development, along with the New York City Housing Authority (NYCHA), will undertake a $272.6 million affordable housing renovation project in East Harlem. The project will rehabilitate 523 apartments that are housed across four buildings within two complexes — Metro North Plaza and Gaylord White Houses — and which are home to about 800 residents. The project will preserve the affordability of the units and will also enhance shared indoor spaces, common outdoor areas and building infrastructural systems. Specifically, façades will be repaired; roofs will be repaired or replaced; new windows will be installed; and elevators will be overhauled. Financing for the project stems from the NYCHA Permanent Affordability Commitment Together (PACT) program. Wavecrest Management will handle day-to-day property management at the developments. Merchants Capital has provided $100 million in financing for the project.
SALT LAKE CITY — Cowboy Partners, with MVE + Partners as architect, has broken ground on Liberty Corner, an affordable housing property in Salt Lake City. The 387,857-square-foot, ground-up community will feature 200 apartments. Salt Lake City-based Cowboy Partners is a multifamily and mixed-use developer.
ATLANTA — Exact Capital has delivered Skyline Apartments, a 250-unit affordable housing community located along the Atlanta Beltline’s Southside Trail in the city’s Peoplestown neighborhood. The property is located at 1090 Hank Aaron Drive SE and represents a $94 million investment. Capital partners on the project included Invest Atlanta (the City of Atlanta’s economic development arm), Goldman Sachs, Stonehenge, LISC and Walker & Dunlop. Exact Capital and joint venture partner Aleem Construction broke ground on Skyline Apartments in 2022 in a ceremony with Atlanta Mayor Andre Dickens. The community features studio, one- and two-bedroom apartments reserved for households earning at or below 60 percent of the area median income (AMI). Amenities include a healthcare center, modern fitness facility, community room, meeting spaces, dog wash station, secure gated entry and covered parking.
GRESHAM, ORE. — USA Properties Fund and Northwest Housing Alternatives have completed Terracina Vista, an affordable housing community in Gresham, approximately 10 miles from downtown Portland. Located at 16503 E. Burnside St., Terracina Vista offers 92 one-, two- and three-bedroom apartments for residents earning less than 60 percent of the area median income. Apartments feature energy-efficient appliances and lighting and low-flow faucets, showers and toilets. Community amenities include a community room, computer workstations, indoor bike storage, elevators and laundry facilities. Funding for Terracina Vista was made possible by a private-public partnership with the City of Gresham, Oregon Housing and Community Services and Oregon Metro as subsidy lenders. WNC & Associates is the tax credit investor on the $43 million development. Capital One was the construction lender, with Citi Community Capital as the permanent lender.
SAN FRANCISCO AND IRVINE, CALIF. — BRIDGE Housing and Avanath Communities have jointly formed an affordable and workforce housing property management company called Brighthaven Communities. Initially, Brighthaven will provide property management services to the two organizations’ combined portfolio of properties, which totals approximately 30,000 affordable homes across 15 states. The new company plans to extend its services beyond the partners’ own properties to include other nonprofit and for-profit owners of affordable and workforce housing communities. Brighthaven will be governed by a six-member board with equal representation from both organizations. Avanath is an Irvine-based private investment firm, and BRIDGE is a nonprofit affordable housing owner and developer headquartered in San Francisco.