Affordable Housing

Baldwinville-School-Apartments-Templeton-Massachusetts

MPZ, Capstone Near Completion of $36M Multifamily Adaptive Reuse Project in Templeton, Massachusetts

by Taylor Williams July 27, 2026

TEMPLETON, MASS. — A partnership between metro Boston-based MPZ Development and Capstone Communities is nearing completion of a $36 million multifamily adaptive reuse project in Templeton, about 65 miles northwest of Boston. A housing lottery was launched and closed on July 15, and full completion is slated for this fall. Designed by ICON Architecture, the project converted the historic Baldwinville Elementary School, which was originally built in 1923, into a 54-unit apartment complex known as Baldwinville School Apartments. Residences come in studio, one-, two- and three-bedroom floor plans, and the majority (49) of the units are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a children’s playground, fitness center, electric vehicle charging stations, onsite laundry facilities and a community walking trail and green space.

July 27, 2026

Affordable Housing California Loans Multifamily Western

Walker & Dunlop Arranges $28.9M Loan for Refinancing of Affordable Housing Complex in Los Angeles

by Amy Works July 24, 2026

LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan for the refinancing of Billy G. Mills Manor, an affordable housing complex next to the University of Southern California in Los Angeles. Jeff Kearns and Laura Woltanski of Walker & Dunlop secured the refinancing through HUD/FHA’s Section 223(f) loan program on behalf of Watt Capital Developers. Billy G. Mills Manor features 102 affordable housing units supported by a Project-Base Section 8 Housing Assistance Payment (HAP) contract covering 100 percent of the residences. The refinancing will also fund approximately $30,000 per unit for planned renovations, including roof replacement, new windows and sliding doors throughout the property. The transaction closed simultaneously with a 20-year renewal of the property’s Project-Base Section 8 contract, preserving long-term affordability.

July 24, 2026

Acquisitions Affordable Housing Development Multifamily Office Southeast Virginia

Finmarc Sells Office Building, Land in Northern Virginia to Pulte Homes for $26.4M

by John Nelson July 22, 2026

CHANTILLY, VA. — Finmarc Management Inc. has sold an 83,300-square-foot office/flex building and an adjacent 6.4-acre parcel within Park East Corporate Center in Chantilly, about 28 miles west of Washington, D.C. The Bethesda, Md.-based investment company sold the parcels, which total 14 acres, to Pulte Homes for approximately $26.4 million. The Atlanta-based homebuilding giant plans to develop 183 homes on the sites comprising 126 townhomes, 32 condos and 25 affordable and workforce dwelling units. Brendan May and Paul Norman of Cushman & Wakefield represented Finmarc in the transaction. Aaron Rosenfeld of Kelley Drye & Warren LLP provided legal services to Finmarc.

July 22, 2026

Affordable Housing Development Midwest Multifamily Wisconsin

McShane to Build 93-Unit Affordable Housing Community in Madison, Wisconsin

by Kristin Harlow July 21, 2026

MADISON, WIS. — Lincoln Avenue Communities has selected McShane Construction Co. to build Timberline Terrace, a 93-unit affordable housing community in Madison. The podium-style building will feature five wood-framed stories atop a below-grade precast garage. Timberline Terrace will offer one-, two- and three-bedroom units with one to two bathrooms. Amenities will include a 4,000-square-foot plaza with a playground and grill stations, as well as a playroom, community room, lounge, community service space and fitness area. The development is designed to achieve Wisconsin Green Built Homes Gold Zero certification and will incorporate a solar array on the roof, high-efficiency heat pumps and upgraded performance windows. Completion is slated for fall 2027. Knothe & Bruce Architects is the architect, and The Sigma Group is the civil engineer.

July 21, 2026

Affordable Housing California Development Multifamily Seniors Housing Western

Wellpointe to Develop $2B Affordable Seniors Housing Campus in Los Angeles

by Amy Works July 20, 2026

LOS ANGELES — Wellpointe has announced plans for the development of a new affordable seniors housing campus within the Warner Center master-planned district in Los Angeles. Wellpointe estimates a total investment of $2 billion in the project, which will be developed in four phases. A property-holding affiliate of Wellpointe acquired the 4.7-acre development site late last year from Parkview Financial. Upon completion, Viva L.A. Warner Center will comprise four high-rise towers ranging from 34 to 42 stories. The 2.2 million-square-foot development will total 3,192 units and include 61,450 square feet of non-residential space. “Viva represents our conviction that affordable housing, paired with assisted living services as needed, can be delivered at the scale and density that California’s aging population in core urban centers actually needs,” says George Kutnerian, co-founder and CEO of Wellpointe. “Despite the overwhelming need for a new model, senior living continues to be built out rather than up — even in dense urban areas — and quality is treated as incompatible with affordability. Viva rejects that premise and builds upon Wellpointe’s mission of democratizing access to quality housing and care for older adults — now through transit-oriented, high-density, community-serving urban social infrastructure.” Gensler is designing the project. The firm …

July 20, 2026

Affordable Housing Development Multifamily New Jersey Northeast

WinnCos. Begins $33M Renovation of Affordable Housing Property in Atlantic City

by Taylor Williams July 20, 2026

ATLANTIC CITY, N.J. — Regional affordable housing owner-operator WinnCos. has begun the $33 million renovation of Garden Court Apartments, a 177-unit affordable housing property in Atlantic City. WinnCos. acquired the 20-building property, which houses 135 one-bedroom units and 42 two-bedroom apartments, in February in partnership with New Jersey-based nonprofit organization Gateway Community Action Partnership. Capital improvements will include upgraded kitchens, bathrooms and flooring in all apartments; new windows, siding, balconies and roofs for all buildings; the installation of new energy-efficient HVAC systems and electrical panels; and new security features. All common areas and amenity spaces will also be upgraded. Completion is slated for next fall.

July 20, 2026

Affordable Housing Development Massachusetts Multifamily Northeast

Pennrose, HSTF Break Ground on 55-Unit Affordable Housing Redevelopment in Boston

by Taylor Williams July 16, 2026

BOSTON — A partnership between Pennrose and the Hyde Square Task Force (HSTF) has broken ground on a 55-unit affordable housing redevelopment in the Jamaica Plain area of Boston. Designed by DiMella Shaffer, the project will convert the former 71,000-square-foot Blessed Sacrament Church, which was built in 1913 and closed by the Catholic Church in 2004, into a complex with studio, one- and two-bedroom apartments that will be reserved for residents earning 30 to 80 percent of the area median income (AMI). Six residences will also be set aside for formerly homeless residents, and the church’s nave will be repurposed into a multipurpose performance and gathering space for the Afro-Latin community. Completion is slated for late 2027.

July 16, 2026

Affordable Housing Loans Multifamily Texas

Cushman & Wakefield Arranges $95.7M in Financing for Metro Houston, Dallas Affordable Housing Portfolio

by Taylor Williams July 15, 2026

HUMBLE AND ROWLETT, TEXAS — Cushman & Wakefield has arranged $95.7 million in financing for a portfolio of two affordable housing properties totaling 626 units. Grove East is a 324-unit, garden-style property located in the northern Houston suburb of Humble, and Rowlett Station is a 302-unit midrise building located northeast of Dallas. Both properties were built in 2021 and are subject to Housing Finance Corp. (HFC) income restrictions. The financing consists of $76.2 million in senior debt provided by Benefit Street Partners and a $19.5 million mezzanine loan funded by CCL Capital. Chase Johnson and Caleb Riebe led the Cushman & Wakefield team that arranged the debt on behalf of the owner, Salt Lake City-based investment firm Sundance Bay.

July 15, 2026

Affordable Housing Development Illinois Midwest Multifamily

HODC Opens 48-Unit Permanent Supportive Housing Community in Northbrook, Illinois

by Kristin Harlow July 15, 2026

NORTHBROOK, ILL. — Nonprofit developer Housing Opportunity Development Corp. (HODC) has opened Poupard Place, a permanent supportive housing community in Northbrook. The 48-unit, four-story community at 1593 Shermer Road provides affordable housing for individuals and families living with disabilities. The development was made possible through a collaborative partnership among HODC, Illinois Housing Development Authority, Cook County, National Equity Fund, Federal Home Loan Bank of Chicago, Village Bank & Trust and many other public and private partners. The Village of Northbrook unanimously approved the project and donated the land. The project team included architect Cordogan, Clark & Associates and general contractor Skender.

July 15, 2026

Affordable Housing Development Kansas Midwest Multifamily

Merchants Capital Arranges $10.8M in Financing for Affordable Housing Development in Kansas

by Kristin Harlow July 13, 2026

LAWRENCE, KAN. — Merchants Capital has arranged $10.8 million in permanent financing for Floret Hill, a 121-unit affordable housing development in Lawrence. Merchants Capital secured a Freddie Mac Unfunded Forward TEL loan for the project. The capital stack also includes federal and state low-income housing tax credit equity and hard and soft debt financing. The City of Lawrence donated 12 acres of land and committed more than $1 million in Affordable Housing Trust Funds to support the development. Floret Hill is the fourth project that Wheatland Investments Group is building in Lawrence and the first affordable housing community on the west side of the city, according to Merchants. Floret Hill will offer one-, two- and three-bedroom apartments across 11 buildings, with 37 units restricted to residents earning up to 40 percent of the area median income (AMI) and 84 units restricted to 60 percent AMI. Affordability will be maintained for 30 years via The Declaration of Land Use Restrictive Covenants for Low-Income Housing Tax Credits, a federal regulatory program with the Kansas Housing Resources Corp. Amenities will include garage parking, a business center, fitness room, clubhouse and playground.

July 13, 2026

Newer Posts

Older Posts