Tuesday, April 29, 2025
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Affordable Housing

Affordable HousingDevelopmentMassachusettsNews

Nixon Peabody Advises Hebrew SeniorLife in Construction of Affordable Community in Brookline, Massachusetts

by Jeff Shaw

BROOKLINE, Mass. — Law firm Nixon Peabody LLP has advised Hebrew SeniorLife in the site acquisition and construction of a new affordable seniors housing complex in Brookline, a first-ring suburb of Boston. The project involves the construction of a seven-story complex featuring 54 units for seniors over the age of 62. Combined with the Marilyn and André Danesh Family Residences, the Julian and Carol Feinberg Cohen Residences, and the Diane and Mark Goldman Family Residences, this new complex will expand the Hebrew SeniorLife seniors housing campus in Brookline. Financing partners …

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Affordable HousingDevelopmentFloridaNews

Lincoln Avenue Capital Breaks Ground on Two Affordable Developments in Bradenton, Florida

by Jeff Shaw

BRADENTON Fla. — Lincoln Avenue Capital (LAC) has broken ground on the 301 Flats and The Savoy at 301 in Bradenton, south of Tampa. Upon completion in 2025, the 301 Flats and The Savoy at 301 will provide 324 units of affordable housing for families and individuals along 248 units of seniors housing, respectively.

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Affordable HousingDevelopmentFloridaNews

HTG Breaks Ground on $43.5M Mount Hermon Apartments in Fort Lauderdale

by Jeff Shaw

FORT LAUDERDALE, Fla. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal Church Inc. have broken ground on Mount Hermon Apartments, an affordable seniors housing community in Fort Lauderdale. Development costs are estimated at $43.5 million for the 104-unit community. The seven-story development will offer a mix of one- and two-bedroom units ranging from 650 square feet to 950 square feet. Apartments are reserved for income-qualifying residents age 62 and older who earn 60 percent or less of area median income (AMI), with rents ranging from $425 to …

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Affordable HousingFinanceMarylandNewsTennessee

Bellwether Arranges $24.9M Refinancing for Three Affordable Communities in Tennessee, Maryland

by Jeff Shaw

NASHVILLE, Tenn., and BALTIMORE and PIKESVILLE, Md. — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged three loan deals totaling nearly $25 million to refinance and preserve three affordable senior living communities in Nashville, Baltimore and Pikesville. Jon Killough and John Roberts originated the Nashville deal and Victor Agusta originated the Maryland loans. Bellwether arranged a $21 million bridge loan for Nashville Christian Towers. The loan will allow Envolve Communities to acquire and finance the 175-unit affordable seniors housing development. Envolve plans to redevelop the property utilizing proceeds from …

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Affordable HousingDevelopmentFloridaNews

ANF Group Breaks Ground on Sol Vista Affordable Community in Cutler Bay, Florida

by Jeff Shaw

CUTLER BAY, Fla. — General contractor ANF Group Inc has broken ground on Sol Vista, a 227-unit affordable seniors housing community in Cutler Bay, approximately 20 miles south of downtown Miami. MRK Partners and Cypress Equity Investments are co-developers on the project. The two companies are partnering with the Housing Finance Authority of Miami-Dade County, the Florida Housing Finance Corp., R4 Capital LLC and R4 Capital Funding to finance the development. Sol Vista’s affordability will be preserved for 30 + years, thanks to a new regulatory agreement on the property. …

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Affordable HousingAssisted LivingDevelopmentNew JerseyNews

New Standard Develops Three LIHTC Properties in New Jersey

by Jeff Shaw

MILLVILLE, EGG HARBOR TOWNSHIP and HAMMONTON, N.J. — New Standard Senior Living has completed development of three Medicaid-focused assisted living communities in South Jersey. All three communities feature individual (single-occupant-only) studio apartment-style residences. The Millville community offers 154 units while the second, Egg Harbor Township location offers 166 units. The last of the initial three communities, located in Hammonton, is nearing its completion with 174 units this spring. The communities are the first of their kind in the state of New Jersey, according to New Standard, and are designated to …

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AcquisitionsAffordable HousingNewsVermont

Affordable Housing Investment Brokerage Negotiates Sale of Three Affordable Communities in Vermont

by Jeff Shaw

WILLISTON and ST. ALBANS, Vt. — Affordable Housing Investment Brokerage Inc. (AHIB) has negotiated the sale of a three-property affordable seniors housing portfolio in the greater Burlington area. Consisting of 191 units across all properties, the three communities — Hawk’s Nest in St. Albans, and Falcon Manor and Eagle Crest in Williston — serve independent senior tenants and were all developed under the Section 42 Low Income Housing Tax Credit program. The price was not disclosed. AHIB’s Kyle Shoemaker represented both the seller, a local development company, and the buyer, …

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Affordable HousingDevelopmentHawaiiNews

EAH Housing Breaks Ground on $58M Affordable Community in Hilo, Hawaii

by Jeff Shaw

HILO, Hawaii — EAH Housing has broken ground on Hale Nā Koa ‘O Hanakahi, an affordable seniors housing community for veterans in Hilo, located on the east coast of the “Big Island” of Hawaii. Development costs are estimated at $58 million. In partnership with Hawaii Island Veterans Memorial Inc. (HIVM), EAH Housing will develop the residential component of the master-planned complex that will also include a community-based outpatient clinic. The property will be built on 5.5 acres owned by the County of Hawaii. The 92-unit affordable living community will be …

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Affordable HousingContent PartnersDevelopmentIndustry ContentKeyBankOperationsPeopleVideosWebinars

Webinar: Meeting the Critical Need for Affordable Seniors Housing

by Sarah Daniels

    The Feb. 15 webinar “Meeting the Critical Need for Affordable Seniors Housing” focused on challenges and strategies for addressing resident needs while keeping costs down in the affordable seniors housing segment. This endeavor is no easy task in an environment where labor and staffing prices, construction costs and interest rates make calculations unwieldy. Three expert panelists discussed helpful programs, essential tax credits and successful case studies to light the way to affordable seniors housing. “We know that there’s a wave of 73 million baby boomers reaching an age …

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Affordable HousingDevelopmentMassachusettsNews

TAT, Beacon Communities Open 55-Unit Affordable Community in South Boston

by Jeff Shaw

BOSTON — The Architectural Team (TAT) and Beacon Communities LLC have opened Phase III of The Anne M. Lynch Homes at Old Colony, an affordable seniors housing community in South Boston. The new building feature 55 units and was built using Passive House sustainability standards. the project recently won a design excellence award in the low-rise multifamily category from the Passive House Institute U.S. chapter. “The Passive House approach is a game-changer for affordable and workforce housing projects, which can significantly benefit from the standard’s lower ongoing operating costs, healthier …

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