Affordable Housing

Capstone Completes Construction of 201-Unit Affordable Housing Development in Atlanta

by Abby Cox August 17, 2026

ATLANTA — Capstone Building Corp. has completed the construction of Herndon Square Phase II, a $57 million affordable housing development located in Atlanta’s Westside neighborhood. The second phase of Herndon Square, which serves as a key component of the larger Legacy at Herndon Square redevelopment, rises six stories and spans 335,348 square feet. The building features 201 apartments in one-, two- and three-bedroom floorplans. Amenities include a resident lounge, fitness center, interior courtyard, playground, wellness clinic, enclosed parking deck, dog wash station and outdoor grilling and picnic areas. Along with Birmingham, Ala.-based general contractor Capstone Building Corp., the project team comprises Atlanta Housing, Hunt and Pennrose (developers), as well as Thriven Design (architect).

August 17, 2026

Affordable Housing Development Multifamily New York Northeast

Partnership Nears Completion of $158M Workforce Housing Project in Mount Vernon, New York

by Taylor Williams August 14, 2026

MOUNT VERNON, N.Y. — A partnership between Simone Development Cos. and Stagg Group is nearing completion of Qwest Towers, a $158 million workforce housing project in Mount Vernon, located north of New York City. Qwest Towers will consist of two buildings that will rise 15 and 12 stories and will house a combined 228 residences. The unit mix will comprise 58 studios, 91 one-bedroom units, 78 two-bedroom apartments and one three-bedroom unit, as well as a separate residence for the building superintendent. Information on income restrictions was not disclosed. The first building is scheduled to be complete before the end of the year, with the second to follow a few months later.

August 14, 2026

Affordable Housing Development Multifamily New Jersey Northeast

TCB Completes 53-Unit Affordable Housing Building in New Brunswick, New Jersey

by Taylor Williams August 14, 2026

NEW BRUNSWICK, N.J. — The Community Builders (TCB) has completed Stirlingside Residences, a 53-unit affordable housing building in New Brunswick, located in Central New Jersey. Specific income restrictions were not announced, but the building includes six units for families and individuals who have previously experienced homelessness. A ribbon-cutting ceremony took place in late May.

August 14, 2026

Affordable Housing Development Loans Multifamily New York Northeast

Affinius Capital Provides $40.7M Construction Loan for Upper Manhattan Multifamily Project

by Taylor Williams August 11, 2026

NEW YORK CITY — Affinius Capital has provided a $40.7 million construction loan for an 84-unit multifamily project in Upper Manhattan. The borrower is Haussmann Development. The site is located within a Qualified Opportunity Zone at 16–20 Convent Ave., adjacent to Columbia University’s campus, and the mixed-income project will be developed pursuant to New York City’s 485-x tax abatement program. Information on floor plans, income restrictions and amenities was not disclosed. NDKazalas Architecture PC is designing the project, which is slated for an early 2028 completion.

August 11, 2026

Affordable Housing California Development Multifamily Western

USA Properties Fund, Irvine Co. Break Ground on 338-Unit Affordable Housing Community in Tustin, California

by Amy Works August 10, 2026

TUSTIN, CALIF. — USA Properties Fund, in partnership with Irvine Co., has broken ground on Terracina at Tustin Legacy, a 338-unit affordable housing community located southeast of Anaheim in Tustin. The community sits within a 1,600-acre master-planned development that is a redevelopment of a former Marine Corps Air Station. Terracina at Tustin Legacy will feature two four-level buildings at 2265 Airship Ave. and 16055 Compass Ave., each featuring one-, two- and three-bedroom apartments, as well as a clubhouse, pool and parking garage. Completion is slated for the second quarter of 2029.

August 10, 2026

Acquisitions Affordable Housing Development Multifamily New York Northeast

Tredway Buys Brooklyn Affordable Housing Property for $41.5M, Plans Renovations

by Taylor Williams August 7, 2026

NEW YORRK CITY — Local owner-operator Tredway has purchased Restore Housing, a 138-unit affordable housing property in Brooklyn’s Bedford-Stuyvesant neighborhood, for $41.5 million with plans to implement renovations. Units at the property are reserved for households earning 60 percent or less of the area median income. Capital improvements, which will serve to preserve the property’s affordability status, will cover units’ kitchens, bathrooms, appliances and flooring, as well as the building’s common spaces. Merchants Capital provided financing for both the purchase and renovations.

August 7, 2026

Acquisitions Affordable Housing Georgia Southeast

JLL Brokers $147M Sale of Seniors Housing Portfolio in Metro Atlanta

by John Nelson August 6, 2026

ATLANTA — JLL’s National Seniors Housing Capital Markets team has brokered the $147 million sale of a five-property seniors housing portfolio in submarkets north of Atlanta. The properties include Brickmont at Woodstock in Woodstock, Brickmont at Acworth in Acworth, Brickmont at Johns Creek in Cumming, Brickmont at West Cobb in Marietta and Brickmont at Roswell in Alpharetta. The portfolio comprises 611 units and 701 beds of assisted living and memory care, as well as amenity packages including theaters, restaurant-style dining, bistros, bars, art studios, game rooms and landscaped courtyards. An institutional investor acquired the portfolio in an all-cash transaction from a joint venture between Centric Development and Sage Equities. Centric Development developed the properties between 2018 and 2022. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer, Erik Von Hamm, Anthony Fertitta, Joel Mendes and Peter Yorck of JLL represented the seller in the transaction. The new ownership has retained Claiborne Senior Living to continue to operate the communities post-acquisition.

August 6, 2026

Affordable Housing Development Georgia Multifamily Southeast

Partnership Breaks Ground on 130-Unit Affordable Housing Community in Atlanta’s Buckhead District

by John Nelson August 5, 2026

ATLANTA — A partnership between Pennrose, Radiant Development Partners and public partners including Atlanta Beltline Inc. has broken ground on Overlook at Garson, a 130-unit affordable housing community in Atlanta’s Buckhead district. The development is situated along the Beltline’s Northeast Trail at the intersection of Garson Drive and Piedmont Road, which is near the Lindbergh MARTA Station. Atlanta Mayor Andre Dickens attended the groundbreaking ceremony on Tuesday, Aug. 4 along with the development partners. Atlanta Beltline Inc. purchased the development site in 2021 from Wells Fargo with plans to add more affordable housing on land in immediate vicinity of the popular urban trail. The development partners expect to deliver Overlook at Garson in 2028. The property will offer efficiency, one- and two-bedroom apartments reserved for households earning 50, 60 and 80 percent of the area median income (AMI). Capital sources for Overlook at Garson include Bank of America, Advantage Capital, Atlanta Housing, Atlanta Beltline Inc., Invest Atlanta, the Community Foundation for Greater Atlanta and Merchants Capital. Public partners include Atlanta Beltline Inc., Invest Atlanta, Atlanta Housing and Georgia’s Department of Community Affairs. The design-build team includes Smith Dalia Architects, McShane Construction and Thompson Ehle Co.

August 5, 2026

Affordable Housing Development Multifamily New Jersey Northeast

LJS Development Breaks Ground on 25-Unit Affordable Housing Project in Randolph, New Jersey

by Taylor Williams August 5, 2026

RANDOLPH, N.J. — LJS Development has broken ground on Sussex Woods, a 25-unit affordable housing project in the Northern New Jersey community of Randolph. Sussex Woods will feature five one-bedroom units, 12 two-bedroom residences and eight three-bedroom apartments. All units will be reserved for households earning between 20 and 60 percent of the area median income. Inglese Architecture is designing Sussex Woods, and LeChase Construction is the general contractor. Completion is slated for next summer.

August 5, 2026

Affordable Housing Loans Multifamily Texas

PNC Bank Provides Financing for Three Affordable Housing Properties Totaling 224 Units in Kerrville, Texas

by Taylor Williams August 4, 2026

KERRVILLE, TEXAS — PNC Bank has provided financing for Heritage Oaks, The Meadows and Paseo de Paz, three affordable housing properties totaling 224 units in Kerrville, about 65 miles northwest of San Antonio. The financing will be disbursed as part of PNC’s $251 million fund to support new construction, rehabilitation and preservation of 16 affordable housing properties totaling approximately 1,700 units across the country. The owner of the Kerrville properties was not disclosed.

August 4, 2026

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