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Affordable Housing

Affordable HousingDevelopmentNew YorkNews

Lendlease Tops Out 149-Units Garden Towers Affordable Community in the Bronx

by Jeff Shaw

NEW YORK CITY — Lendlease has topped out Garden Towers, an affordable seniors housing community in the Bronx. Foxy Management is developing the property in partnership with HANAC Inc. and JLD Advisory LLC. The project includes two residential buildings — rising seven stories and eight stories — that together offer a total of 149 rental units for low-income adults age 62 or older. Lendlease, the construction manager for the project, broke ground on the development in August 2021 with an expected completion in 2023. “Garden Towers represents our third project …

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Affordable HousingDevelopmentIllinoisNews

Evergreen Breaks Ground on $30M Bellwood Senior Apartments Near Chicago

by Jeff Shaw

BELLWOOD, Ill. — Evergreen Real Estate Group has broken ground on Bellwood Senior Apartments, an 80-unit affordable rental community in the western Chicago suburb of Bellwood. The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Professionally operated by Evergreen’s in-house management team, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60 percent of the area median income. Evergreen will begin accepting applications for the apartments in spring 2023, …

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Affordable HousingDevelopmentFloridaNews

Integra Investments, EHDOC Complete $58M Mosaico Affordable Community in Miami

by Jeff Shaw

MIAMI — A joint venture between Miami-based Integra Investments and nonprofit Elderly Housing Development & Operations Corp. (EHDOC) has completed Mosaico, a $58 million affordable housing community in Miami. The 13-story property will span 271 apartments reserved for households with citizens aged 62 years and older. Located in Miami’s Allapattah neighborhood, Mosaico features 179 one-bedroom units and 92 studios and townhomes. CC Hodgson Architectural Group designed the project. Integra Investments and EHDOC worked alongside HUD, the Housing Finance Authority of Miami-Dade County, City of Miami and Miami-Dade Public Housing & …

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Affordable HousingDevelopmentFloridaNews

Wendover Housing Partners Opens $27.6M Hawthorne Park Affordable Community in Orlando

by Jeff Shaw

ORLANDO, Fla. — Wendover Housing Partners and the government of Orange County, Florida, have opened Hawthorne Park, an affordable seniors housing community in the Pine Hills neighborhood of Orlando. Hawthorne Park replaces a portion of an underutilized shopping center. The 120-unit community is designed for residents 55 and older meeting income requirements. According to the National Low Income Housing Coalition (NLIHC) 2022 GAP report, the Orlando metro area only has 18 affordable and available homes per 100 extremely low-income renters. A recent study conducted at the request of the Orange …

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Affordable HousingDevelopmentFrom The Magazine

Developers Reinvent Adaptive Reuse

by Jeff Shaw

Creative projects tackle many of the biggest trends in seniors housing, such as multigenerational living, affordability, downtown locations and walkable neighborhood amenities. By Jeff Shaw Adaptive reuse projects are a tricky proposition for seniors housing developments, with a long list of both pros and cons.  On the positive side, a historic building that is valued in the community may find new life. Historic tax credits become available to help a project pencil out and increasing construction materials costs are mitigated by reusing an existing structure. Additionally, by reusing an existing …

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Affordable HousingDevelopmentNew YorkNews

Breaking Ground Opens Betances Residence Affordable Community in the South Bronx

by Jeff Shaw

NEW YORK CITY — Breaking Ground has opened Betances Residence, an affordable supportive living community in the South Bronx area of New York City. The community features 152 units in a 120,000-square-foot buildingin the Mott Haven neighborhood. Betances is Breaking Ground’s first Passive House-certified project, and among only a handful of supportive residences in the city to embrace the energy use standard. The Betances development is part of a commitment by the New York City Housing Authority (NYCHA) and New York City Department of Housing Preservation and Development (HPD) to …

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Affordable HousingDevelopmentMissouriNews

Joint Venture Completes Phase I of Scott Manor in St. Louis, Breaks Ground on Phase II

by Jeff Shaw

ST. LOUIS — A partnership including Roanoke Construction Inc., The Oakland Group LLC and BTWF Urban Initiative has opened Phase I of Scott Manor Senior Living, a mixed-income seniors housing community in St. Louis. Phase I features 42 two-bedroom units, amenity space and 1,500 square feet of retail space. The first units are fully occupied. Simultaneously with the grand opening, the partnership also broke ground on Phase II, which will add 50 one- and two-bedroom units to the property. Missouri Housing Development Commission financed the development alongside private investors and …

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AcquisitionsAffordable HousingCaliforniaNews

Standard Communities Acquires 559-Unit Affordable Housing Portfolio in California

by Jeff Shaw

ANAHEIM, ESCONDIDO and LIVERMORE, Calif. — Standard Communities, through a public-private partnership, has acquired three mixed-income seniors housing communities totaling 559 rental units in California. The total value of the three-property portfolio is over $195 million, including more than $19 million in renovations. The properties include: Heritage Village Anaheim, totaling 196 units on 5.1 acres in Anaheim Heritage Park Escondido, totaling 196 units on five acres in Escondido Heritage Park Livermore, totaling 167 units on 8.2 in Livermore “We’re preserving and expanding affordable housing in some of the areas that …

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Affordable HousingDevelopmentIndianaNews

Evergreen Breaks Ground on $30M Green Oaks of Valparaiso Affordable Community in Indiana

by Jeff Shaw

VALPARAISO, Ind. — Chicago-based Evergreen Real Estate Group has started construction of Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors in Valparaiso. The $30 million project is scheduled for completion in April 2023. It will offer 48 studio and 72 one-bedroom apartments, all of which will be reserved for seniors age 62 or older with incomes at or below 60 percent of the area median income (AMI). A financial assistance program will be available for those who qualify. Green Oaks of Valparaiso will be licensed …

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Affordable HousingCompany NewsDevelopmentNews

Puget Sound Nonprofits Combine to Create New Affordable Housing Brand

by Jeff Shaw

BELLEVUE, Wash. — Three Puget Sound-based nonprofits have come together to create CIRC, a new brand that provides affordable housing and services to seniors and families. Sustainable Housing for Ageless Generations (SHAG), the Community Life Foundation (CLF) and Downtown Action to Save Housing (DASH) have joined forces to create CIRC. All three organizations are longtime leaders in affordable housing and resident services in Puget Sound. Each component brings different expertise to the new brand, positioning CIRC to provide both housing and services to a wide range of residents. CIRC will …

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