Overwhelmed
Low-income seniors experience years-long waiting lists, and the problem is primed to get worse before it gets better.
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NorthMarq Arranges $7.6M Refinancing for Seawind Seniors Apartments in Oxnard, California
OXNARD, Calif. — NorthMarq has arranged $7.6 million in financing for Seawind Seniors Apartments, an age-restricted community in Oxnard, approximately 65 miles west of Los Angeles.
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Public-Private Partnership Breaks Ground on $36M Affordable Community in Bay Area
ALAMEDA, Calif. — The City of Alameda, Eden Housing and Alameda Point Partners have broken ground on Alameda Point Senior Apartments, a 60-unit affordable seniors housing community in Alameda, just south of Oakland.
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Highridge Costa Opens $21M Affordable Community in Cibolo, Texas
CIBOLO, Texas — California-based Highridge Costa Development Co. has opened El Sereno Senior Living, a $21 million community in Cibolo, a northeastern suburb of San Antonio.
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Monarch Private Capital Invests in $20M Affordable Complex Near Atlanta
COVINGTON, Ga. — Monarch Private Capital (MPC) has invested $20 million of equity in Harmony at Covington Apartments, a 122-unit affordable seniors housing community in Covington, through the low-income housing tax credit (LIHTC) program.
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Sims Mortgage Funding Finances $5.3M Cash-Out for Affordable Community in Pennsylvania
MIDDLETOWN, Pa. — Sims Mortgage Funding (SMF), a subsidiary of HJ Sims, has provided a $5.3 million HUD-insured loan for Middletown Interfaith Apartments.
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Weitz to Build Two Arizona State Veteran Homes
YUMA and FLAGSTAFF, Ariz. — The Weitz Company and Arizona Department of Veterans’ Services (ADVS) are preparing to break ground on a new Arizona State Veteran Home in Yuma. This will be the second such home built by the partnership,
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Evergreen Real Estate Group Completes $4M Renovation of Affordable Community in Chicago
CHICAGO— Evergreen Real Estate Group has completed a $4 million renovation of Bethel Terrace Apartments, a 123-unit affordable seniors housing community in Chicago’s Englewood neighborhood.
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DCHFA Issues $50M in Bonds for Construction of Affordable Assisted Living Community in Washington, D.C.
WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has issued $50 million in bond financing for the construction of The Residences at Southern Avenue in Washington, D.C.
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Summit Contracting Group Starts Construction of $10M Affordable Community in Pensacola, Florida
PENSACOLA, Fla. — Florida-based general contractor Summit Contracting Group has started construction on Lucas Creek, an affordable seniors housing development in Pensacola, located on the panhandle near the Alabama border.
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Walker & Dunlop Arranges $5.8M Rehabilitation Loan for Affordable Community in Tennessee
COOKEVILLE, Tenn. — Walker & Dunlop Inc. has structured a $5.8 million loan through the United States Department of Housing and Urban Development (HUD) for Walnut Village, an affordable seniors housing community in Cookeville, approximately midway between Knoxville and Nashville.
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Associated Bank Provides $6.2M LIHTC Equity, $4.7M Construction Financing for Community in Wisconsin
MADISON, Wis. — Associated Bank has completed $4.7 million in new construction financing and placement of $6.2 million in low-income housing tax credit (LIHTC) equity for Point Place Senior Apartments in Madison.
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Kaiser Permanente, Bay Area Community Services Plan 515-Unit Pipeline for Housing Homeless Seniors
OAKLAND, Calif. — Bay Area Community Services (BACS) and Kaiser Permanente have announced a partnership that will house 515 aging, homeless individuals in Oakland.
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Walters Completes 91-Unit Affordable Community on Jersey Shore
SEASIDE HEIGHTS, N.J. — Walters, a New Jersey-based affordable housing developer, has completed Cornerstone At Seaside Heights, an age- and income-restricted apartment community in the Jersey Shore town of Seaside Heights.
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Dominium Completes $8M Rehabilitation Project for Affordable Community in Melbourne, Florida
MELBOURNE, Fla. — Dominium, a Minneapolis-based apartment owner, developer and manager, will hold a grand re-opening on June 4 for Crane Creek, a seniors housing community in Melbourne.
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HANAC Completes Construction of $36M Affordable Community in Queens
NEW YORK CITY — HANAC Inc., Enterprise Community Partners and Chase have opened the doors on Corona Senior Residence, an affordable seniors housing community in the Corona neighborhood of Queens.
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Public-Private Partnership Receives $6M Loan for Affordable Community in Manhattan
NEW YORK CITY — The Community Preservation Corp. (CPC), Project FIND, the Joint Ownership Entity New York City (JOE NYC), and the New York City Department of Housing Preservation and Development (HPD) have received a $6 million Fannie Mae Multifamily
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Hunt Capital Partners Obtains $8.4M Financing for Affordable Development in Texas
IRVING, Texas — Hunt Capital Partners, in partnership with co-developers Saigebrook Development and O-SDA Industries, has closed $8.4 million in federal low-income housing tax credit equity financing for the construction of Canova Palms.
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Housing Trust Group, Miami Jewish Health Open $36M Affordable Community in Florida
PEMBROKE PINES, Fla. — Housing Trust Group (HTG) and Miami Jewish Health Systems (MJHS) have opened the doors on Douglas Gardens V, an affordable seniors housing community in the Miami suburb of Pembroke Pines.
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ITEX Group, Austin Housing Authority Reopen Gaston Place Affordable Housing Community
AUSTIN, Texas — The ITEX Group, in partnership with the Housing Authority City of Austin (HACA), has reopened Pathways at Gaston Place.
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Skender Breaks Ground on Affordable Community in Crystal Lake, Illinois
CRYSTAL LAKE, Ill. — Skender, as base building and interior construction manager, has broken ground on Residences of Crystal Lake, an independent living community in Crystal Lake, approximately 45 miles northwest of Chicago.
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Eden Housing Opens 90-Unit Affordable Community in Bay Area
FREMONT, Calif. — Eden Housing has opened Pauline Weaver Senior Apartments, a 90-unit affordable housing community for seniors in Fremont, located at the southeast edge of San Francisco Bay.
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Boston Capital Invests in 47-Unit Affordable Project in Boston
BOSTON — Boston Capital has invested an undisclosed amount in the construction of O’Connor Way Senior Housing, a 47-unit affordable housing development for seniors in South Boston.
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Walters Completes 100-Unit Affordable Community in New Jersey
MANAHAWKIN, N.J. — Walters has completed Cornerstone At Stafford, a 100-unit age- and income-restricted apartment community in Manahawkin, located approximately 55 miles southeast of Philadelphia near Manahawkin Bay.
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Presbyterian Senior Living Begins $19M Affordable Development in Lancaster, Pennsylvania
LANCASTER, Pa. — Presbyterian Senior Living (PSL) has unveiled plans for LongCrest, an affordable seniors housing apartment complex in Lancaster, approximately between Philadelphia and the state capital of Harrisburg.
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Hunt Capital Partners Arranges LIHTC Financing for $34.4M Development in Wisconsin
FITCHBURG, Wis. — Hunt Capital Partners, in collaboration with Plesko Properties LLC, has arranged federal and state low-income housing tax credit (LIHTC) equity financing for the construction of Fitchburg Senior Apartments.
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Vermillion, HED Open 119-Unit Affordable Community in Fort Wayne, Indiana
FORT WAYNE, Ind. — Vermillion Development, a Chicago-based real estate firm, has opened Silver Birch Fort Wayne, an affordable seniors housing community in Fort Wayne. Design and engineering firm HED partnered on the project.
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