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Affordable Housing

Affordable HousingDevelopmentMichiganMidwestMixed-UseMultifamily

Oxford Cos., Crawford Hoying Receive State Approval for Arbor South Mixed-Use Project in Michigan

by Kristin Harlow

ANN ARBOR, MICH. — Oxford Cos. and Crawford Hoying have received final state approval from the Michigan Strategic Fund Board for Arbor South, a 20-acre mixed-use development planned for Ann Arbor’s south side. Located at 2845 S. State St. near Eisenhower Parkway, Arbor South will include more than 1,000 apartments and condominiums, including over 200 affordable housing units in partnership with the Ann Arbor Housing Commission. Plans also call for 100,000 square feet of ground-floor commercial space, an upscale hotel, parks, green spaces and gathering areas. Arbor South was approved via the largest brownfield tax recapture plan in city and county history, according to a release. It is moving forward under Ann Arbor’s new TC-1 zoning ordinance, designed to increase transit-corridor density outside downtown. The approval follows two years of planning, refinement and coordination with city officials, state leaders and project partners. Detroit-based Sachse Construction is the general contractor. The project team also includes Detroit-based architecture and design firm Lord Aeck Sargent and Ann Arbor-based civil engineering firm Midwestern Consulting. Pre-construction work is expected to begin this winter.  

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Affordable HousingDevelopmentSoutheastTennessee

Clear Blue Breaks Ground on 228-Unit Affordable Housing Community in Dickson, Tennessee

by John Nelson

DICKSON, TENN. — The Clear Blue Co. has broken ground on Honeywood Dickson, a 228-unit affordable housing community located at 841 Cowan Road in Dickson, about 40 miles west of Nashville. The property will feature one- to four-bedroom homes reserved at 30, 60 and 80 percent of the area median income (AMI). The $88.1 million project is being advanced through collaboration among Clear Blue, HUD, the City of Dickson, Dickson County, the Tennessee Housing Development Agency (THDA), Regions Bank, the Dickson Housing Authority and other public and private partners. Regions Real Estate Capital Markets provided a Freddie Mac loan for the project, and Regions Affordable Housing provided construction and equity bridge loans and made an equity investment in the project’s 4 percent LIHTC allocation by the THDA.  The Health and Educational Facilities Board of the City of Dickson authorized the issuance of up to $48 million in tax-exempt bonds that were underwritten by Raymond James National Housing Group. Additionally, the Dickson Housing Authority will provide development-based vouchers for 60 homes. The design-build team includes architect Studio A Architecture and general contractor BACAR Constructors. Clear Blue plans to deliver first units at Honeywood Dickson next fall and fully deliver the property in …

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

TCB, BHA Complete 223-Unit Multifamily Redevelopment Project in Boston

by Taylor Williams

BOSTON — The Community Builders (TCB) and the Boston Housing Authority (BHA) have completed a 223-unit multifamily redevelopment project in the state capital’s Jackson Square neighborhood. The project represents Phase I of the redevelopment of the Mildred C. Hailey Apartments and replaced 253 existing units with two six-story buildings that house 223 units. Specific income restrictions were not disclosed, but the residences comprise 91 “deeply affordable” units and 132 units of “affordable and moderate income housing.” The first phase of the redevelopment also featured the construction of a new, 6,800-square-foot community center named in honor of Anna Mae Cole, a transformational tenant leader, as well as 1,520 square feet of commercial space.

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Walters Completes 72-Unit Affordable Housing Project in Hainesport, New Jersey

by Taylor Williams

HAINESPORT, N.J. — New Jersey-based developer Walters has completed a 72-unit affordable housing project in Hainesport, located outside of Philadelphia in Southern New Jersey. Cornerstone at Hainesport consists of six buildings that house one-, two- and three-bedroom units that are reserved for households earning 60 percent or less of the area median income. Amenities include a basketball court, children’s play area and a clubhouse with computer workstations. Construction began in early 2025.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

TCB Breaks Ground on 65-Unit Mixed-Income Housing Project in Provincetown, Massachusetts

by Taylor Williams

PROVINCETOWN, MASS. — Nonprofit developer The Community Builders (TCB) has broken ground on Province Post, a 65-unit mixed-income housing project that will be located in Provincetown, situated at the tip of Cape Cod. The building’s affordable housing component will be for renters earning from 80 percent to below 30 percent of the area median income. Units will come in studio, one-, two- and three-bedroom floor plans. A tentative completion date was not announced.

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Affordable HousingLoansMultifamilyNew JerseyNortheast

Benmark Capital Provides $38M Loan for Refinancing of Workforce Housing Portfolio in Paterson, New Jersey

by Taylor Williams

PATERSON, N.J. — Benmark Capital, a private equity firm with offices in Miami and New Jersey, has provided a $38 million loan for the refinancing of a portfolio of two workforce housing buildings totaling 203 units in the Northern New Jersey community of Paterson. The buildings house one-, two- and three-bedroom units, and the portfolio, which includes six commercial spaces, was 99 percent occupied at the time of the loan closing. Marc Waldman of KentMoore Capital arranged the loan on behalf of the locally based borrower, Ania Management.

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Affordable HousingLoansMultifamilyTexas

BWE Provides $16.8M Agency Loan for Mixed-Income Property in Grapevine, Texas

by Taylor Williams

GRAPEVINE, TEXAS — Cleveland-based commercial finance firm BWE has provided a $16.8 million Freddie Mac loan for Cobblestone Village, a 200-unit mixed-income property in Grapevine, located in the northern-central part of the metroplex. Built in 1983, Cobblestone Village comprises 96 one-bedroom and 104 two-bedroom apartments, 70 of which are subject to income restrictions. Amenities include a pool, fitness center, playground and outdoor grilling and dining stations. Jake Roberts of BWE originated the seven-year loan on behalf of the owner, San Antonio-based Falkin Platnick Realty Group, which plans to use a portion of the proceeds to fund capital improvements.

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Waterford-at-Goldmark-Apartments-Dallas
Affordable HousingDevelopmentMultifamilyTexas

April Housing Reopens North Dallas Mixed-Income Community Following $20M Rehabilitation

by Taylor Williams

DALLAS — April Housing, Blackstone Real Estate’s affordable housing division, has reopened Waterford at Goldmark Apartments, a 220-unit mixed-income housing community in North Dallas, following a $20 million renovation. Waterford at Goldmark is an age-restricted property that offers one-, two- and three-bedroom, townhome-style units. Income restrictions were not disclosed. Renovations included new fixtures, energy-efficient appliances and lighting throughout units’ bathrooms and kitchens; updates to amenity spaces such as the playground, pool and gym facilities; and the installation of new water heaters and rooftop solar panels. April Housing partnered with the Dallas Housing Finance Corp. and general contractor FTK Construction Services on the project, which preserves the property’s affordability status for another 30 years.

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Tribeca-Park
Affordable HousingMultifamilyNew YorkNortheast

Related Cos. Underway on Affordable Housing Preservation, Expansion Project in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Related Cos. is underway on an affordable housing preservation and expansion project at Tribeca Park, a 27-story, 396-unit mixed-income housing building in Lower Manhattan. Related Cos. developed Tribeca Park in 1999 via a ground lease with The Battery Park City Authority (BPCA), and the contract has been amended to preserve 81 units as affordable to households earning up to 50 percent of the area median income (AMI) and to add 20 new units affordable to households earning up to 130 percent of AMI. These new affordability protections will run through 2069 and increase the proportion of income-restricted units with Tribeca Park from 20 percent to 25 percent.

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Catalina-Austin
Affordable HousingDevelopmentMultifamilyTexas

NRP Group Breaks Ground on 336-Unit Affordable Housing Project in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Catalina, a 336-unit affordable housing project in southeast Austin. Developed in partnership with the Housing Authority of Travis County, Catalina will consist of 12 three-story buildings that will house one-, two-, three- and four-bedroom units. Residences will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, fitness center, business center, a multipurpose community room, children’s activity room, playground and various green spaces and outdoor seating areas throughout. Residents will also have access to services such as afterschool care, financial literacy courses, ESL (English as a second language) classes and first-time homebuyer programs. The first units are expected to be available for occupancy next fall, with full completion slated for spring 2028.

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