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AHDC, Carpenter’s Shelter Open Affordable Housing Project, Homeless Shelter in Alexandria, Virginia

ALEXANDRIA, VA. — Alexandria Housing Development Corp. (AHDC) has partnered with local homeless shelter Carpenter’s Shelter for The Bloom at Braddock and Carpenter’s Shelter, a hybrid affordable housing community and homeless shelter in Alexandria. The project is a redevelopment of the former 17,000-square-foot Carpenter’s Shelter, which provides support and accommodations to people who are experiencing homelessness. The Bloom at Braddock has 97 low-income tax credit housing (LIHTC) …

Affordable Housing, Development, Multifamily, Southeast, Virginia

KeyBank Secures $18.6M for Construction of Affordable Housing Property in Cleveland

CLEVELAND — KeyBank has secured $18.6 million in financing for the construction of Slavic Village Gateway, an 88-unit affordable housing property in Cleveland. The two-building project will feature 21,000 square feet of ground-floor retail space as well as 10 townhomes. The property will feature 23 units for renters that earn at or below 30 percent of area median income (AMI) and 65 units for those who earn at or below 60 percent of AMI.KeyBank Community Development Lending and Investment …

Affordable Housing, Loans, Midwest, Multifamily, Ohio

Standard Communities Leads Partnership to Acquire, Renovate 300-Unit Affordable Housing Community in Charleston

CHARLESTON, S.C. — Standard Communities has led a public-private partnership that acquired Bridgeview Village Apartments, the largest privately owned affordable community in Charleston. Standard Communities partnered with the U.S. Department of Housing and Urban Development (HUD), South Carolina State Housing Finance and Development Authority (SC Housing) and nonprofit firm Housing on Merit for the transaction.The Bridgeview Village acquisition had a total capitalization of over $97 …

Acquisitions, Affordable Housing, Multifamily, South Carolina, Southeast

TD Bank: Why We Need to Address Affordable Housing Needs Now

By Gregg Gerken, Head of Commercial Real Estate for TD BankEven prior to the COVID-19 pandemic, it was a struggle to build or find affordable housing.But since the pandemic broke out, finding affordable housing may be even harder for those who now need it most. A Problem Made Worse by a Global Pandemic The lack of affordable housing was an urban, suburban and rural problem even before COVID-19. Rent-burdened families and seniors living on a budget reside in almost every small and …

Affordable Housing, Features, Finance Insight, Loans, Midwest, Multifamily, Northeast, Southeast, Texas, Western

Overland Property Group, The Dinerstein Cos. Plan 525 Apartment Units at Gateway Landing in Denver

DENVER — Equity Ventures Commercial Development and Wall Development Group have announced plans for 525 affordable and market-rate apartments to the Gateway Landing, the partnership’s 34-acre mixed-use development in Denver’s Green Valley Ranch. The newly announced residential units, located at the northeast quadrant of Green Valley Ranch and Peña boulevards, will be developed through partnerships with Overland Property Group (OPG) and The Dinerstein Cos. (TDC).The Reserves at Green …

Affordable Housing, Colorado, Development, Multifamily, Western

TWG Underway on $10M Affordable Housing Project in Urbandale, Iowa

URBANDALE, IOWA — Developer TWG is underway on construction of Lillis Lofts, a $10 million affordable housing project in Urbandale. TWG is developing the project with Dreamcatcher Inc., a Des Moines-based nonprofit that helps build housing for low-income individuals and those with disabilities. Located at 6313 Douglas Ave. near the Merle Hay Mall, the three-story Lillis Lofts is slated for completion this fall. It is the first affordable housing project in the area in more than two decades, …

Affordable Housing, Development, Iowa, Midwest, Multifamily

Woda Cooper, Parallel Housing Break Ground 60-Unit Affordable Housing Community in Madison, Georgia

MADISON, GA. — Woda Cooper Co. and Parallel Housing Inc. have broken ground on Canaan Crossing, a new 60-unit, $13 million affordable housing community in Madison. The property will be located at the corner of Wheat and March streets in Madison’s Canaan historic neighborhood.Canaan Crossing will include 60 townhomes and apartments with -one, -two and -three-bedroom units for families earning up to 60 percent of area median income (AMI). The development is expected to be certified LEED …

Affordable Housing, Development, Georgia, Multifamily, Southeast

Frankel Enterprises Breaks Ground on 30-Unit Affordable Housing Property in Philadelphia

PHILADELPHIA — Developer Frankel Enterprises has broken ground on The Residences at Diamond Village, a 30-unit affordable housing property that will be located near Temple University in Philadelphia. Frankel Enterprises is developing the project in conjunction with the Philadelphia Housing Authority, the Reinvestment Fund, Tester Construction Group and the City of Philadelphia. The first residences are expected to be complete in

Affordable Housing, Development, Multifamily, Northeast, Pennsylvania

Bellwether Provides $11.6M HUD-Insured Loan for Affordable Housing Community in Dothan, Alabama

DOTHAN, ALA. — Bellwether Enterprise Real Estate Capital LLC has provided an $11.6 million HUD 221(d)(4) loan for the rehabilitation of an affordable housing community in Dothan. The 50-unit public housing property, Capstone at Kinsey Cove, is located at 1121 Kinsey Road.Jon Killough of Bellwether Enterprise’s Alabama office originated the loan on behalf of the borrower, an affiliate of The Banyan Foundation. The financing is part of HUD’s Rental Assistance Demonstration (RAD) …

Affordable Housing, Alabama, Development, Loans, Multifamily, Southeast

Wendover Housing Partners Breaks Ground on $16.3M Affordable Housing Community in Sanford, Florida

SANFORD, FLA. — Wendover Housing Partners, an Altamonte Springs, Fla.-based multifamily developer, has broken ground on Monroe Landings, a $16.3 million affordable housing community in Sanford. Wendover received $11.5 million in tax credit equity, $1.3 million from partner Orlando Housing Authority and a $2.8 million permanent loan from Neighborhood Lending Partners. Roger B. Kennedy Construction is overseeing the construction of the community.Located at 375 Oleander Ave. in Sanford, …

Affordable Housing, Development, Florida, Multifamily, Southeast
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